Funds advised by Apax Partners announce the successful completion of the acquisition of a majority shareholding in Travelex
3 August 2005
London, UK, 3 August 2005: Funds advised by Apax Partners today
announced the successful closing of the acquisition of a
controlling majority stake in Travelex, the world's largest foreign
exchange specialist, following regulatory approval.
The transaction values the company at an enterprise value of
more than £1bn. The agreement was previously announced on
February 28, 2005.
Travelex is the world's largest non-bank foreign exchange
specialist and is a global brand. The Travelex Group
has offices in 35 countries and corporate relationships in 110
countries, and serves over 29 million customers each year.
About Apax Partners
Apax Partners is one of the world's leading private equity
investment groups, operating across the United States, Europe and
Israel. Apax Partners has raised or advised approximately $20
billion around the world. With more than 30 years of direct
investing experience, Apax Partners' Funds provide long-term equity
financing to build and strengthen world-class companies. It pursues
a multi-stage equity investment strategy, investing in late
venture, growth capital and buyouts.
Apax Partners' Funds invest in companies across its 6 chosen
global sectors of telecommunications, IT, retail and consumer,
media, healthcare and financial/business services. Apax Partners'
Funds investments include Global Refund, Azimut, MoneyBox,
Independer, Yell, VNU World Directories and Deutsche Kabel.
For additional information, see: www.apax.com
For more information, please contact:
Juliana Wheeler
T: +44 20 7872 6350
E: Juliana.Wheeler@apax.com
Clare Sillars
T: +44 20 7872 6476
E: Clare.Sillars@apax.com
About Travelex
Travelex is the world's largest non-bank provider of commercial
foreign exchange services, providing integrated payment solutions
for business customers globally. The Group is also one of the
world's leading providers of outsourced travel money to banks,
travel agencies and other financial institutions. In addition,
Travelex operates over 700 retail foreign exchange branches around
the world.
For additional information, see: www.travelex.com
For more information, please contact:
Anthony Wagerman
T: +44 20 7400 4000
E: Anthony.Wagerman@travelex.com