Bridgepoint Acquires Moneycorp

moneycorpMoneycorp, a London, UK-based specialist foreign exchange provider, has been acquired by private equity group Bridgepoint.

The transaction had an enterprise value of £212m from funds advised by SOF Investments.

Led by Mark Horgan, CEO, Moneycorp is one of the largest specialist players in the market targeting customers through a multi-channel offering, including a fully integrated online payments and telephone platform serving both SME corporate and private customers. In 2013 it recorded gross income of £97.2m (£65.2m in 2012) and handled over £10 billion of currency trades. In 2013 it also acquired Thomas Cook’s corporate foreign exchange business.
It currently serves UK based SMEs and UK high net worth individuals and operates a retail bureau de change business focused on London and the South East with 10 stores and 61 airport locations.
The company is also beginning to open up business internationally.



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