Travelex
| Travelex Group
|
|
|---|---|
 |
|
| legal form | Corporate company |
| founding | 1976 |
| Seat | London, UK |
| management | Apax Partners , BR Shetty and Lloyd Dorfman |
| Number of employees | +6500 (2012) |
| sales | £ 721.5 million (2014) |
| Branch | Financial services |
| Website | www.travelex.de |
The Travelex Group is one of Lloyd Dorfman founded foreign exchange company based in London. Its main business areas include international payments, exchange offices and the issuing of prepaid credit cards for travelers, as well as global transfers. It is the largest foreign exchange office in the world and is a major funder and sponsor of the Royal National Theater in London.
In 2007 the company proposed a "space currency" called "Quasi Universal Intergalactic Denomination" as part of a viral marketing campaign. The abbreviation for the name of the space currency, QUID, is colloquially the name for money in British English.
In Germany Travelex is represented at various airports such as Frankfurt (Main) airport , Berlin-Tegel Airport and Hanover Airport and Hamburg Airport . The company's German headquarters are in Frankfurt am Main.
Travelex operates in 28 countries and in more than 1,500 branches.
history
Travelex was founded in 1976 and opened its first office in central London.
On November 8, 2000, she bought the global foreign exchange business of Thomas Cook Group for £ 440 million, which significantly expanded the international business.
In February 2005, the takeover firm Apax Partners acquired a controlling stake in the company, but Dorfman retained 30% and continued the business. Ian Meakins was CEO from 2006 to 2009 before becoming CEO of Wolseley plc .
In early 2010, Travelex posted significant losses on interest payments on its high debt. The company had pulled out of an IPO last year and said it is now "considering a number of potential funding structures." Later that year, she sold her card program management division to MasterCard for £ 290 million to help reduce debt.
On July 5, 2011, Travelex sold its Global Business Payments division to Western Union for £ 606 million.
In 2014, Apax Partners sold its 51% controlling stake in UAE- based Indian businessman Bavaguthu Shetty and valued the company at around £ 1 billion. Shetty also owns UAE Exchange , a UAE-based money transfer company that operates in 32 countries. Shetty, who also owns London-listed NMC Health , was assisted in the acquisition by Abu Dhabi-based investment vehicle Centurion. This sale was completed in January 2015.
Web links
Individual evidence
- ↑ Secure the exchange rate & currency before the trip | Travelex. Retrieved January 3, 2019 .
- ↑ https://www.theguardian.com/stage/2010/oct/28/national-theatre-dorfman-donation
- ↑ https://www.travelex.co.uk/press-releases/2007/october/travelex-launches-quids-in-space#.W_f-5zhKhaQ
- ↑ Learn more about us | Travelex | the currency experts. Retrieved January 3, 2019 .
- ↑ https://web.archive.org/web/20100819140742/http://www.travelex.co.uk/group/default.asp
- ↑ https://www.thefreelibrary.com/Travelex+plc+Acquires+Thomas+Cook+Financial+Services+Division;+$630...-a066704076
- ↑ https://www.bloomberg.com/news/world?pid=newsarchive&sid=aAFSbygVhFJ8
- ↑ https://www.thisismoney.co.uk/money/markets/article-1702905/Travelex-in-race-to-sort-out-huge-debt.html
- ↑ https://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8192623/MasterCard-buys-Travelex-division-for-290m.html
- ↑ https://www.businesswire.com/news/home/20110705005742/en/Western-Union-Acquire-Travelex-Global-Business-Payments
- ↑ https://www.telegraph.co.uk/finance/newsbysector/banksandfinance/10849784/Travelex-shelves-IPO-during-sale-talks-with-UAE-buyer.html
- ↑ http://www.travelex-corporate.com/EN/About_Us/