• Home
  •  
    Regions
    • Europe
    • UK & Ireland
    • DACH
    • Nordic
    • France
    • Southern Europe
    • Benelux
    • CEE
    • Asia
  •  
    Deals
    • Buyouts
    • Venture
    • Exits
    • Refinancings
    • Build-up
    • Turnaround
    • Secondaries
    • Advanced deals search
  •  
    Funds
    • Buyout
    • Venture
    • Mezzanine
    • Debt
    • Funds-of-funds
    • Secondaries
    • Fundraising pipelines
    • Advanced funds search
  •  
    GPs & LPs
    • GP profiles
    • LP profiles
    • GP news
    • LP news
    • Sponsors search
    • LPs search
  •  
    Secondaries
    • Deals
    • Funds
    • News
    • Analysis
  •  
    People
    • People moves
    • Analysis
    • In Profile
    • Q&A
    • Videos
    • Comment
  •  
    Analysis
    • In Profile
    • Fundraising
    • Q&A
    • Comment
    • Videos
    • Podcast
    • Reports
    • Data Snapshots
  •  
    Unquote Data
    • Deals search
    • Exits search
    • Funds search
    • Sponsors search
    • Advisers search
    • LPs search
    • League tables
    • Reports
  • Sign in
  • Sign in
    • You are currently accessing unquote.com via your Enterprise account.

      If you already have an account please use the link below to sign in.

      If you have any problems with your access or would like to request an individual access account please contact our customer service team.

      Phone: +44 (0)203 741 1137

      Email: Georgina.Lawson@acuris.com

      • Sign in
     
      • Newsletters
      • Account details
      • Contact support
      • Sign out
     
  • Follow us
    • Twitter
    • LinkedIn
  • Free Trial
  • Subscribe
Unquote
Unquote
  • Home
  • Regions
  • Deals
  • Funds
  • GPs & LPs
  • Secondaries
  • People
  • Analysis
  • Unquote Data
  • You are currently accessing unquote.com via your Enterprise account.

    If you already have an account please use the link below to sign in.

    If you have any problems with your access or would like to request an individual access account please contact our customer service team.

    Phone: +44 (0)203 741 1137

    Email: Georgina.Lawson@acuris.com

    • Sign in
 
    • Newsletters
    • Account details
    • Contact support
    • Sign out
 
Unquote
  • UK / Ireland

Bridgepoint acquires Moneycorp

  • Harriet Bailey
  • Harriet Bailey
  • 01 September 2014
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  

Bridgepoint has acquired foreign exchange provider Moneycorp for £212m from RBS Special Opportunities Fund.

Bridgepoint stated customers in the FX market are choosing alternative lenders over banks, which in its view provide poor value and service. The GP also highlighted the company's international development potential.

The UK international payments market is expected to grow annually by 11% as trust in specialist providers increases.

Moneycorp

  • DEAL:

    Buyout

  • VALUE:

    £212m

  • LOCATION:

    London

  • SECTOR:

    Speciality finance

  • FOUNDED:

    1962

  • TURNOVER:

    £97.2m

  • STAFF:

    945

  • VENDOR:

    RBS Special Opportunities Fund

In July 2010, RBS sold card payment service provider RBS WorldPay to Advent International and Bain Capital for an enterprise value of £2.025bn – marking the largest transaction in the UK across the previous three years. As part of the transaction, which was mandated on the EU level due to the government's involvement in the bank, RBS retained a 19.9% stake in the company. In 2008, RBS became 81% owned by the state.

International payment service providers have seen an increase in private equity investment recently as customers look for alternatives to banks. In June, Index Ventures, IA Ventures and Kima Ventures took part in a $25m round for London-based TransferWise alongside Virgin entrepreneur Richard Branson.

Company
Moneycorp is the trading name of TTT Moneycorp, which was established in 1962 and started dealing in foreign exchange in 1979. It has a multichannel offering, including a fully integrated online payments and telephone platform. It handled 6.4 million transactions last year worth more than £10bn in 100 different currencies.

In 2013, the 945-strong company acquired Thomas Cook's corporate foreign exchange business. It generated £97.2m of revenue in 2013. Headquartered in London, Moneycorp has offices in the UK, Ireland, Spain and the US. It also has retail bureau de change businesses at 61 airports including Heathrow and Gatwick.

People
Mark Horgan is CEO of Moneycorp. Stephen Green is partner at Bridgepoint. Lindsey McMurray represents SOF Investments, which advises RBS Asset Management.

Advisers
Equity – DC Advisory (M&A); Deloitte (Corporate finance); Shearman & Sterling (Legal); Oliver Wyman (Commercial due diligence); Marsh (Insurance due diligence).
Vendor – Canaccord (M&A); KPMG (Financial due diligence); Slaughter and May (Legal); BCG (Commercial due diligence).
Management – Dean Street (Corporate finance); Charles Russell (Legal).

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  
  • Topics
  • UK / Ireland
  • Buyouts
  • Financials
  • United Kingdom
  • Bridgepoint

More on UK / Ireland

Fund closes in US dollars
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme

Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote

  • Funds
  • 05 September 2023
Clinical trials and biotechnology
Permira to take Ergomed private for GBP 703m

Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO

  • Buyouts
  • 04 September 2023
Public sector software
Partners Group to release IMs for Civica sale in mid-September

Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017

  • Exits
  • 04 September 2023
EMEA Public to Private M&A
Change of mind: Sponsors take to de-listing their own assets

EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater

  • Investments
  • 04 September 2023

Latest News

Fund closes in US dollars
  • Funds
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme

Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote

  • 05 September 2023
Clinical trials and biotechnology
  • Buyouts
Permira to take Ergomed private for GBP 703m

Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO

  • 04 September 2023
Public sector software
  • Exits
Partners Group to release IMs for Civica sale in mid-September

Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017

  • 04 September 2023
EMEA Public to Private M&A
  • Investments
Change of mind: Sponsors take to de-listing their own assets

EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater

  • 04 September 2023
Back to Top
  • About Unquote
  • Advertise
  • Contacts
  • About Acuris
  • Terms of Use
  • Privacy Policy
  • Group Disclaimer
  • Twitter
  • LinkedIn

© Merger Market

© Mergermarket Limited, 10 Queen Street Place, London EC4R 1BE - Company registration number 03879547

Digital publisher of the year 2010 & 2013

Digital publisher of the year 2010 & 2013