Sherrards' Client Joins Forces to Create Leading FX Payments Company
Sherrards have successfully acted for FC Exchange (FCE) during a recent transaction in which the firm was acquired by Global Reach Partners (GRP), with the backing of its private equity investor, Inflexion.
GRP provides payments and hedging services to businesses and private individuals, transacting over £3.5bn of foreign currency per year, with the acquisition set to increase transactions annually to over £5.5bn.
As an established client of the firm, award-winning foreign exchange transfer experts FCE have expanded significantly over recent years, recognising further opportunity in combining forces with GRP to become the market leader in foreign exchange payments. The acquisition provides GRP with the immediate scale, further reach and added capabilities for expansion - while providing an industry-leading customer and partnership service proposition.
The deal also brings together a combined team of 170 employees, further strengthening the firm’s talented workforce, who are widely recognised for offering world-class customer service.
Nick Fullerton, co-founder and CEO of FCE commented: "We have experienced over 50% year-on-year growth and I'm very excited about the future journey with GRP and Inflexion behind us. We will retain our high standards and values which the GRP team share. We will be stronger together."
Leigh Head, Partner, Sherrards Solicitors added: "We are pleased to have represented FCE in their recent acquisition process. As a highly valued client of Sherrards, we strongly believe that this consolidated approach will provide the essential growth needed for the combined parties to become leaders in the foreign exchange payments market."