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.