eurochange

Canaccord Genuity acts as sole financial adviser to Corsair Capital and eurochange on the sale of eurochange to The Western Union Company

Canaccord Genuity is pleased to announce that it has acted as sole financial adviser to Corsair Capital (“Corsair”) and eurochange (“eurochange” or the “Company”) on the sale of eurochange to The Western Union Company (“Western Union”).

Formerly a subsidiary of Corsair portfolio company NoteMachine, eurochange is one of the UK’s leading foreign exchange experts, specialising in travel money, international payments, money transfers and remittance services for retail, business and banking customers. In operation since 1975, the Company has expanded significantly to now include over 230 branches throughout England, Scotland, Wales and Northern Ireland, as well as a significant online presence. This has been supported by new and expanded partnerships with leading UK retailers and financial institutions including Marks & Spencer, Morrison’s, Paypoint and NatWest.

Western Union is a leader in cross-border, cross-currency money movement, payments, and digital financial services, empowering consumers, businesses, financial institutions, and governments with fast, reliable, and convenient ways to send money and make payments around the world. The Western Union brand is globally recognised and represents speed, reliability, trust, and convenience. 

Corsair is a global financial services investor focused on payments, software and business services.

Canaccord Genuity previously advised Corsair on the sale of NoteMachine’s UK ATM and Testlink divisions to the Brink’s Company, and the sale of eurochange represents the full exit of Corsair’s investment in the NoteMachine group.

The transaction further reinforces Canaccord Genuity’s market leading position as a financial adviser in the cross-border payments and specialist financials sectors and follows other transactions including the sale of Equals Group to a consortium comprising TowerBrook, J.C. Flowers and Railsr, the sale of Global Reach to Corpay, the sale of NoteMachine to Brink’s, the sale of ChangeGroup to Prosegur, the sale of Smallworld to Equistone, the acquisition of Redpin (formerly Currencies Direct) by Palamon and Corsair Capital, and the sale of Moneycorp to Bridgepoint.