eurochange Acquired by Western Union
Deal News | Apr 10, 2025 | Taylor Wessing
The Western Union Company has acquired eurochange, a prominent UK-based high street retailer specializing in foreign exchange and travel money services. This transaction facilitated the divestment of Corsair, eurochange's majority shareholder, marking a complete exit from their investment following previous disposals. Taylor Wessing, led by partner Emma Danks, served as legal advisor to eurochange and Corsair, drawing from their extensive experience with the NoteMachine group to oversee the transaction. The acquisition is expected to consolidate Western Union's market leadership in financial services, enhancing its footprint across retail, business, and banking sectors. Eurochange had previously developed successful partnerships with renowned UK retailers under Corsair's ownership, which included brands such as Marks & Spencer and Morrisons. Key personnel from Taylor Wessing, including experts from various practice areas, supported the transaction, highlighting the firm's comprehensive advisory capabilities.
Sectors
- Financial Services
- Legal Advisory
- Private Equity
Geography
- United Kingdom – The UK is central to the article as eurochange is a leading high street retailer in the UK, and the transaction mainly impacts the UK financial and retail landscapes.
- United States – The Western Union Company, based in the US, is the acquiring global entity operating in this cross-border transaction.
Industry
- Financial Services – The industry is relevant because the acquisition involves companies specializing in foreign exchange, travel money, and financial transactions.
- Legal Advisory – Legal advisory is a key industry as Taylor Wessing's legal team played a significant role in facilitating the transaction.
- Private Equity – Corsair's involvement as a majority shareholder and strategic investor typifies the private equity sector's role in facilitating company growth and enabling exits.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| eurochange | Target Company | Company | A leading UK retailer specializing in foreign exchange and travel money services. |
| Corsair | Selling Company | Company | The majority shareholder of eurochange and a private equity firm. |
| The Western Union Company | Bidding Company | Company | A US-based global leader in cross-border, cross-currency money movement. |
| Taylor Wessing | Legal Advisor | Company | A law firm providing comprehensive legal advisory services in corporate transactions, notably M&A. |