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Eversheds Sutherland advises Foreign Currency Direct on its acquisition of Earthport FX

  • Global
  • United Kingdom

    06-07-2020

    Eversheds Sutherland has advised Foreign Currency Direct, the international payments and foreign exchange specialist backed by Pollen Street Capital, on its acquisition of Earthport FX Limited from Visa.

    Earthport FX Limited, the corporate payments and foreign exchange division of Earthport Limited, offers corporate payment services to small and medium sized businesses. It will join Infinity International, the group’s corporate division – an acquisition on which Eversheds Sutherland also advised in May 2019.

    The Eversheds Sutherland team, led by Financial Services M&A Partner, Paul Pugh, and Principal Associate, Matthew Hussey,  provided advice on all aspects of the deal. The wider team comprised Partners Eve England (commercial), and Colin Askew (tax), and Associates Amy Bagni (corporate), and Zoe Haden (commercial).

    The completed acquisition will add considerable scale and market presence for the group which has transacted over £9 billion in the past three years.

    Paul Pugh, said:

    “This is another exciting deal for Pollen Street Capital, one that will further strengthen Earthport FX’s current position in the UK market. We thoroughly enjoyed supporting Michael and the team on the successful completion of this deal and look forward to seeing the continued growth of the FCD group.”

    Michael England, Partner at Pollen Street Capital said:

    “Earthport FX is the latest addition to the group and is an impressive business with a track record of helping businesses manage their transactions efficiently. It operates in a growing market and we believe that Pollen Street’s extensive experience in this space will benefit the business greatly in its next stage of growth.

    “We are grateful to Paul Pugh’s team at Eversheds Sutherland who are helping us achieve the strategic aims of the business.”

    Disclaimer

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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