Palamon Capital Partner, a pan-European growth investor, and Corsair, a private equity firm targeting services, software, and payments investments in the financial services market, announced that funds managed by Blackstone Tactical Opportunities have agreed to make a £140m strategic investment in Currencies Direct, a global provider of digital foreign exchange and international payment services to private clients and small and medium sized enterprises (SMEs).
Currencies Direct is one of the largest digital FX and international payment platforms globally with £105 million in revenues and £43 million of EBITDA for the last twelve months ending January 2022.
Since being acquired by Palamon and Corsair in 2015, Currencies Direct has delivered more than 20% CAGR profit growth, with EBITDA increasing from £13 million to £43 million, and has successfully executed three highly accretive add-on acquisitions, leveraging its scalable, state-of-the-art technology platform and infrastructure.
Read more: SWFI
