Currencies Direct, a specialist in digital foreign exchange (FX) and international payment services to high value private clients and SMEs, has completed a GBP165 million dividend recapitalisation
Currencies Direct is a portfolio company of Palamon Capital Partners (Palamon), a pan-European growth investor, and Corsair, a global specialist investment firm focused on financial and business services and infrastructure. The recapitalisation was provided by incumbent lenders CVC Credit and Alcentra, who backed Palamon and Corsair’s acquisition of Currencies Direct in 2015. The refinancing includes a 5.5x senior portability feature.
Currencies Direct is one of the largest platforms globally in an increasingly consolidating international payments market. The Company focuses on high-value transactions and the mass affluent segment of the FX market, as well as SMEs. Currencies Direct combines a full-stack, fully digital offering (c80 per cent of total trades) with a premium, award-winning customer service model that allows it to cater to the universal needs of its target customer segments.
Source: Private Equity Wire
