Foresight Group (Foresight), a UK-listed infrastructure and specialist regional private equity investment manager, has agreed the conditional sale of Ixaris Group Holdings Limited (Ixaris), a specialist in travel payment technology, to Nium Pte Limited (Nium), a global B2B payments platform based in Singapore.
Nium and Ixaris are complementary businesses and by joining forces they will be able to create a modern solution that combines Ixaris’ leading virtual card capability with Nium’s advanced pay-in, pay-out and embedded foreign exchange capabilities. Nium’s support will enable Ixaris to expand into new sectors and geographies to further strengthens its position within the travel industry. The transaction is subject to customary closing conditions and is expected to complete in the Q3 2021.
This successful sale to Nium further consolidates Foresight’s credentials as an experienced technology investor for fintech companies requiring early stage support and advice as they expand into new markets. This transaction represents the fourth successful realisation by Foresight’s Private Equity team in the last 12 months, including a 6.1x return on ecommerce business Clubhouse Golf, cementing its position as one of the most active SME investors in the UK market.
Read more at Private Equity Wire
