Sign In
NewsRadar

Search Press
Looking for press releases of a particular company? Enter company name (or keyword) here.

   


Apax Partners acquires remaining stake in Travelex


London, 06 November 2006 – 'Funds advised by Apax Partners together with Standard Chartered Bank have entered into a series of agreements with funds advised by 3i to purchase 3i's remaining 6% stake in Travelex. The transaction is due to complete within the next 5 months.'


NOTES TO EDITORS:
3i originally purchased a minority stake in Travelex in 1999. In August 2005 Apax funds together with SCB purchased a majority stake from 3i and Lloyd Dorfman, the founder. 3i had retained a 6% percent equity stake and certain vendor loans in the business.

Since the Apax acquisition in August 2005, Travelex has appointed a new management team led by Clive Kahn, CEO, John Martin, CFO who joined from Hays where he was also CFO, Charles Fry, Director Business Development and Operations, from Benfield where he was Deputy CFO, David Sear, Division Head Outsourcing from Voca where he was Commercial Director, and Peter Burridge, Division Head Commercial Payments, who joined from Siebel where he was an executive committee member responsible for the Asia Pacific region.

Also since the Apax acquisition, Travelex has focused on its 3 core businesses, Commercial Payments, Outsourcing and Retail Foreign Exchange and in so doing has also disposed of its migrant money transfer business to Coinstar and its Australian ATM business to Macquarie.


ABOUT APAX PARTNERS
Apax Partners is one of the world’s leading private equity investment groups. It operates across the United States, Europe, Israel and Asia and has more than 30 years of investing experience. Funds under the advice of Apax Partners total $20 billion around the world. These Funds provide long-term equity financing to build and strengthen world-class companies. Apax Partners Funds invest in companies across its global sectors of Tech & Telecom, Retail & Consumer, Media, Healthcare and Financial & Business Services.

For more information visit: www.apax.com

For further information, please contact:

Ben Harding
Tel: 020 7872 6401
Email: ben.harding@apax.com
xx


Publisher Contact Information:

Apax Partners
+44 (0)20 7872 6401
ben.harding@apax.com

Company profile of Apax Partners
Past press releases of Apax Partners.

Data


27,746
Tech investments
From our Online Data Service
17,891
VC-backed companies
From our Radar


Recent Deals


DATEAMOUNTSECTOR
Dec 21€50.0MKnowledge management
Dec 20€16.0MSemiconductors
Dec 17€18.0MOther Computers & Electronics
Dec 17€5.2MBiotechnology
Dec 17€17.0MBusiness applications
Dec 15€17.0ME-Commerce
Dec 4€3.3MNanotechnology

For information on Europe's most extensive database on technology funding click here!

Events



Press Releases


Sep 30
TetaVi
tetavi raises $6 million to help more companies bring 3d holograms ...

May 28
Identiq
identiq raises $5m seed, launches privacy-first identity validation...

Apr 29
Nethone
nethone raised over $1 million from innovation nest

Mar 31
CompPair
the fit allocates chf 100'000 to comppair technologies

Jan 29
Yumpingo
yumpingo raises $10m to transform guest experiences in restaurants





About usContact usLegal Information
Copyright © 1999-2019
Emerging Technology Research Europe Inc. All rights reserved.