Inflexion to sell investment in Global Reach Group
Inflexion Private Equity is pleased to announce that it has agreed to sell its investment in Global Reach Group (“GRG”), a leading UK foreign exchange specialist providing payments and hedging services to businesses and private individuals, to FLEETCOR Technologies, Inc (NYSE: FLT), a leading global business payments company.
The announcement is the latest in a record period of realisations by Inflexion during 2022 including the successful exits of Marley, Alcumus and Goals with a total valuation in excess of £2.3bn.
Global Reach Group helps clients manage their cross-border payments and foreign exchange exposure through a range of product solutions which are tied to fundamental business needs. The firm offers corporate payment solutions in more than 80 currencies and nearly 200 countries.
Since Inflexion invested in Global Reach in March 2016, the business has been significantly transformed into a high quality platform capable of scaling rapidly. In addition, Inflexion has supported the international expansion of the business, including the acquisitions of the assets of EncoreFX, a Canadian corporate cross-border payments business and FC Exchange, an international money transfer and payment solutions provider, together with the opening of an office in Amsterdam.
Global Reach Group has been transformed during Inflexion’s investment, and is now an international and highly professional platform. The partnership unlocked Global Reach Group’s growth potential, and the business is now very well placed to go forward and thrive under its new owners. We are grateful to the management team who have been instrumental in the evolution of the business.
Inflexion’s experience in M&A and internationalisation was key for Global Reach Group, and has helped to grow it into the high quality and international platform that it is today. We have built a strong foundation and are excited about the next chapter with our new owners.