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Owner of payments firm Moneycorp poised to put business up for sale

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Moneycorp tipped to lift For Sale signal after dealing with transactions value greater than £38bn final 12 months

The proprietor of British funds agency Moneycorp is poised to place the enterprise up on the market, based on sources within the Metropolis. 

Non-public fairness group Bridgepoint purchased the overseas alternate specialist in 2014 for £212million. A sale course of is scheduled for early subsequent 12 months. 

Altering palms: Moneycorp dealt with transactions value greater than £38billion in 2021 – up 18 per cent on the 12 months earlier than – and employs greater than 500 individuals

Moneycorp dealt with transactions value greater than £38billion in 2021 – up 18 per cent on the 12 months earlier than – and employs greater than 500 individuals. 

The corporate is run by former Travelex govt Mark Horgan. 

Moneycorp expects revenue earlier than curiosity, tax and distinctive prices to hit £50million subsequent 12 months after efforts to reposition the enterprise, two sources stated. 

The corporate holds a banking licence and has shifted to turn out to be extra worldwide and online-focused.

Bidders are more likely to embody FLEETCOR, which purchased International Attain Group final month. 

Bridgepoint and Moneycorp declined to remark.

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