Travelex acquires Ruesch
Travelex, the world's largest non-bank provider of international payment services has agreed to acquire Ruesch International from Welsh, Carson, Anderson & Stowe for US$440 million.Ruesch International is a business-to-business payments services...
Travelex, the world's largest non-bank provider of international payment services has agreed to acquire Ruesch International from Welsh, Carson, Anderson & Stowe for US$440 million.
Ruesch International is a business-to-business payments services company, based in Washington DC, with customers in the United States, the United Kingdom, Continental Europe and Australia, including more than 125 Fortune 1000 companies. Ruesch will be merged with Travelex's Commercial Foreign Exchange division to accelerate Travelex's growth in the international payments market.
Together, Travelex and Ruesch will continue to provide cross-border payment services to more than 35,000 small and medium-sized businesses, as well as multi-national financial institutions and global consumer and industrial firms.
Ian Meakins, CEO of Travelex said: "The acquisition of Ruesch strengthens our presence in the international payments market and reinforces our position as the leading non-bank provider of foreign exchange services. The combined business will now be able to offer an enhanced range of products, delivering even better value and superior services to our customers around the world".
Ruesch International is a business-to-business payments services company, based in Washington DC, with customers in the United States, the United Kingdom, Continental Europe and Australia, including more than 125 Fortune 1000 companies. Ruesch will be merged with Travelex's Commercial Foreign Exchange division to accelerate Travelex's growth in the international payments market.
Together, Travelex and Ruesch will continue to provide cross-border payment services to more than 35,000 small and medium-sized businesses, as well as multi-national financial institutions and global consumer and industrial firms.
Ian Meakins, CEO of Travelex said: "The acquisition of Ruesch strengthens our presence in the international payments market and reinforces our position as the leading non-bank provider of foreign exchange services. The combined business will now be able to offer an enhanced range of products, delivering even better value and superior services to our customers around the world".