FT Partners Advises on $310,000,000+ Sale of Currencies Direct
Overview of Transaction
- On August 11, 2015 Currencies Direct Holdings Ltd ("CDH" or the "Company") announced its sale for $310+mm to a buyer consortium formed by Corsair Capital and Palamon Capital Partners
- Prior to the transaction, CDH was owned by the Azibo Group
- Headquartered in London, CDH is a leading, privately-owned, non-bank provider of non-cash foreign exchange and payments solutions to private and corporate clients
- Comprehensive international payment offering is available to clients both online and offline
- Corsair Capital and Palamon Capital Partners are leading, global private equity firms focused on financial services and European growth services, respectively
- The transaction is expected to close by the end of calendar year 2015 and is subject to applicable regulatory approvals and other conditions
Significance of Transaction
- Enables CDH to continue to accelerate its growth strategy in the international payments market
- Combined resources and expertise of CDH and the buyer consortium group position the Company extraordinarily well to further its leadership in the marketplace
- Recognized as Cross Border M&A Deal of the Year by The M&A Advisor
FT Partners' Role
- FT Partners served as exclusive strategic and financial advisor to Currencies Direct and its Board
- Developed extensive marketing materials and financial analyses to highlight the unique aspects of the business, and led all aspects of transaction execution
- Transaction highlights FT Partners' continued success advising leading companies and generating highly successful outcomes in the international payments space