Owner of payments firm Moneycorp poised to put business up for sale

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Owner of British payments firm Moneycorp poised to put business up for sale, according to sources in City

The owner of British payments firm Moneycorp is poised to put the business up for sale, according to sources in the City. 

Private equity group Bridgepoint bought the foreign exchange specialist in 2014 for £212million. A sale process is scheduled for early next year. 

Changing hands: Moneycorp handled transactions worth more than £38billion in 2021 – up 18 per cent on the year before – and employs more than 500 people

Moneycorp handled transactions worth more than £38billion in 2021 – up 18 per cent on the year before – and employs more than 500 people. 

The company is run by former Travelex executive Mark Horgan. 

Moneycorp expects profit before interest, tax and exceptional costs to hit £50million next year after efforts to reposition the business, two sources said. 

The company holds a banking licence and has shifted to become more international and online-focused.

Bidders are likely to include FLEETCOR, which bought Global Reach Group last month. 

Bridgepoint and Moneycorp declined to comment.

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