March 2013

  • Client : Assets of Change Group NZ
  • Activity : Foreign Exchange
  • Sector : Financial Services
  • Acquired by: Fexco
  • Transaction Type:

What our clients say

  • “This is an exciting deal for our business. Baird Capital’s experience and resources will be invaluable as we seek to further enhance our services and global reach. Baird’s deep understanding of the financial services industry and its global network will be valuable as we look to drive our growth both domestically and abroad. Our improved capabilities will also help us better serve our...

    David Vafai | Founder and CEO of bfinance
  • “After running a formal process to find the right partner to help us grow JBW and take it to its next level, OUTSOURCING Inc. were the natural choice. We had many expressions of interest and offers of investment but none were as compelling as OSI. Cavendish were without doubt the best choice of advisors for JBW and me personally. Together with their Japanese partners, they brought huge value to...

    Jamie Waller | Founder of JBW
  • “The Cavendish team, led by Joe Stelzer, has provided invaluable advice in preparing our business for a sale process and assessing our options. This deal will give us more firepower and enable us to expand far more quickly. It’s fantastic news for our high net worth investors and broker partners...

    Duncan Kreeger | One of the Founders of West One
  • “Cavendish were without doubt the best choice of advisors for JBW and me personally. Together with their Japanese partners, they brought huge value to the...

    Jamie Waller | Founder of JBW
  • “The Cavendish Team have been instrumental in delivering me a buyer which is a perfect fit for my business. I appointed Caroline Belcher to perform an Exit Review which led on to the sale mandate, and they have been with me every step of the way. This is a wonderful milestone in our history and I am...

    Ian Moore | Executive Chairman Moore Group Limited

Cavendish Corporate Finance, together with our network partner firm Baron Partners, are pleased to announce the sale of the licensed Bureau de Change and Western Union outlets of ChangeGroup New Zealand to Fexco Pacific. The transaction completed on 27th of March 2013.

ChangeGroup is one of the world’s leading providers of foreign currency and tourist services to the international traveller. Founded in 1992 ChangeGroup has progressively grown and currently has operations across Europe, North America and Asia Pacific.

Fexco Pacific is part of FEXCO, Ireland’s leading privately owned financial services company, employing over 1,700 people across its operations in Europe, the Americas, the Middle East and Asia Pacific. Over its 30 year history, FEXCO has become an internationally recognized specialist provider of financial transaction processing, foreign exchange and outsourcing services.

Speaking about the acquisition, Chris Wilby, Group General Manager, Fexco Pacific, said “This acquisition significantly enhances our dedicated network in Auckland and Rotorua, giving our customers much greater convenience. This acquisition provides a strong platform for expansion of our network in New Zealand.

Key Contacts

Other deals in Financial Services