November 2013

  • Client : World First (minority stake)
  • Activity : Foreign Exchange
  • Sector : Financial Services
  • Acquired by: FTV Capital
  • 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 is pleased to announce that World First UK Limited, a leading provider of foreign exchange, international payment and hedging solutions to corporate and private clients, has completed the sale of a minority stake to FTV Capital, a US based growth equity investor with a strong track record in payments, transaction processing and financial services.

Founded in 2004, World First provides international currency, payment and hedging solutions to its clients throughout the world. Headquartered in London, the company provides its customers with a superior foreign exchange experience by utilizing a proprietary technology platform that automates and streamlines transactions, enabling customers to enjoy better rates and faster transactions. The flexible, user friendly platform is supported by award winning customer service. As the economy becomes increasingly global, World First is uniquely positioned to address the growing international payment needs of corporate and private clients.

“As one of the fastest growing companies in the foreign exchange market, World First has distinguished itself with a strong management team, innovative culture, leading market position and unique value proposition,” said Brad Bernstein, FTV Capital partner and new World First board member.

“World First has done a remarkable job of enabling international commerce for small to medium sized businesses and private individuals, a market segment which is rapidly increasing with global trade and demand for cost-effective foreign exchange solutions, but has been underserved historically.

The company’s consistent execution has been quite impressive, and we look forward to partnering with management to accelerate World First’s expansion globally.”

Jonathan Quin, co-founder and CEO of World First, said:

“We look forward to working with our new partner, FTV Capital, a firm that has the experience and resources to help support the continued success of World First – we believe this will help us to accelerate our expansion plans significantly.”

Nick Robinson, co-founder and Vice Chairman added:

“FTV Capital has a strong reputation as a long-established and accomplished investor in the payments and financial services space. The FTV team brings a deep understanding of this complex market, as well as a distinctive group of strategic relationships that will help our organization achieve our plans for expansion, especially in the US.”

“Cavendish were a fantastic partner for World First throughout the investment process. We were impressed with their knowledge, level of service and professionalism and we are very excited about working with FTV to realise our growth plans.”

Peter Gray, Partner at Cavendish commented “World First is one of the most impressive businesses we have had the privilege of advising. It is destined to become a leading global brand in the rapidly growing international payments space.

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