Corsair Finalizes Sale of eurochange to Western Union
Deal News | Apr 08, 2025 | Corsair Capital
Corsair, a financial services-oriented private equity firm, has completed the sale of its portfolio company eurochange to The Western Union Company. This marks Corsair's full exit from the investment in NoteMachine, following a prior divestiture of its ATM and Testlink divisions to Brinks. Since its acquisition, eurochange has expanded significantly from 96 to over 230 branches across the UK, supported by partnerships with major retailers like Morrisons and NatWest. The transaction aligns with Corsair's strategic focus on payments and business services, and it follows the enhancement of eurochange's operational capabilities under Corsair's guidance. Western Union views this acquisition as a strategic move to bolster its consumer services segment by adding eurochange's established retail presence to its dynamic distribution model. Canaccord Genuity served as the financial advisor for Corsair and eurochange in the transaction finalized on April 7, 2025.
Sectors
- Financial Services
- Private Equity
- Retail
Geography
- United Kingdom – eurochange is a leading UK-based retailer with over 230 locations throughout the country.
- United States – Both Corsair Capital and The Western Union Company are based in the United States, which plays a significant role in the article's narrative.
Industry
- Financial Services – This industry is relevant due to the involvement of Corsair, Western Union, and eurochange, all operating within financial services, particularly payments and foreign exchange.
- Private Equity – Corsair's role as a private equity firm managing financial investments and ownership in eurochange is central to the article's context.
- Retail – eurochange operates as a high street retailer providing travel money and other financial services, making retail a pertinent industry classification.
Financials
- Not disclosed – The financial details of the transaction between Corsair and Western Union were not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Corsair Capital | Private Equity Firm/Investor | Company | A specialist investment firm focused on control investments in payments, software, and business services. |
| eurochange | Target Company | Company | A UK-based high street retailer specializing in travel money, international payments, and remittance services. |
| Western Union | Buyer | Company | A global leader in cross-border, cross-currency money movement and payment solutions. |
| Canaccord Genuity | Financial Advisor | Company | Served as the exclusive financial advisor to Corsair and eurochange for this transaction. |