Source: Pollen Street Capital
Pollen Street Capital, the private equity firm backing Foreign Currency Direct, has acquired UK based Infinity International.
The acquisition will result in Infinity International, headquartered in Canary Wharf, merging with Foreign Currency Direct, following Pollen Street’s initial investment in Foreign Currency Direct in May 2018. Pollen Street has now created a Group, which also includes Pure FX, that has transacted over £5.6 billion in foreign exchange over the last three years.
Infinity International has been trading since 2007 and predominantly services UK and European businesses. They have transacted over £4 billion since inception.
The acquisition will expand the Group’s offering to add a specialist corporate foreign exchange service, alongside their existing presence in the private client market through the Foreign Currency Direct and Pure FX brands.
Tom Higham, Managing Director of Foreign Currency Direct stated: “We’re delighted to welcome Rob and the team at Infinity to the Group. Their expertise and experience in the corporate payments industry along with their value of delivering truly best in class service to all their clients complements our existing strengths and will enable us to deliver a more complete international payments solution for the UK market. This represents the second addition to the Group since Pollen Street’s investment in 2018 as we continue to find exciting and successful businesses to join our Group.”
Rob Groves, Chief Executive Officer of Infinity International added: “We are excited to be joining the Group and firmly believe that our core strengths naturally align and that together we will deliver an industry leading proposition.”
Michael England, Partner at Pollen Street Capital said: “Infinity is an innovative business providing customers with an alternative to using their banks for international payments. With a focus on bringing best value products and the highest quality service to customers, it operates in a fast-growing market with a strong position and we are excited about the opportunity to invest in the company and be part of the next chapter of its story. Alongside Tom and the Foreign Currency Direct team we look forward to adding Pollen Street’s extensive financial services experience and network to help accelerate the company’s growth, building on the strong platform currently in place.”