Payments company owner Moneycorp set to put his business up for sale
The owner of British payments company Moneycorp is set to put his business up for sale, sources tell City
The owner of British payments company Moneycorp is set to put the business up for sale, according to City sources.
Private equity group Bridgepoint bought the forex specialist in 2014 for £212million. A sales process is planned for early next year.
Changing hands: Moneycorp processed transactions worth over £38bn in 2021, up 18% on the previous year, and employs over 500 people
Moneycorp processed transactions worth more than £38bn in 2021 – up 18% on the previous year – and employs more than 500 people.
The company is run by former Travelex executive Mark Horgan.
Moneycorp expects profit before interest, tax and exceptional costs to reach £50m next year after efforts to reposition the business, two sources said.
The company holds a banking license and has an international focus and online orientation.
Bidders are likely to include FLEETCOR, which bought Global Reach Group last month.
Bridgepoint and Moneycorp declined to comment.