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Quayle Munro advises Equistone on its upcoming acquisition of Small World

26 March 2018 in News & Insights

Quayle Munro is pleased to announce that it has advised Equistone Partners Europe (“Equistone”), one of Europe’s leading mid-market private equity investors, on its upcoming acquisition of a majority stake in Small World Financial Services (“Small World” or “the Company”), a leading international, UK-headquartered, multi-channel, cross-border payment service provider. Small World’s investors, including FPE Capital and MMC Ventures, will sell their shareholdings in the Company as part of the transaction, with management reinvesting for a minority stake. The financial terms of the deal are undisclosed and, as Small World is regulated in multiple countries, completion of the transaction remains subject to regulatory approvals.

Small World’s technology-driven platform allows customers to make cross-border payments via its physical network of over 6,000 third-party send-side agents and 80 branches. Small World’s high-growth digital channels, through both app and web, provide choice and convenience to its three million active customers. Since being founded by CEO Nick Day in 2005, Small World has assembled an extensive proprietary international payments infrastructure, providing customers with access to cash collection through a worldwide banking network, fast direct-to-account payments, and loading of mobile wallets. The Company places strong emphasis upon regulatory compliance, relationships with partner banks, and innovative technology to provide a fast, reliable, and good value service to its customers. With millions of customers worldwide, Small World currently employs c.680 people across 16 countries and generates revenues in excess of £110m.

Andrew Backen, Partner at Equistone Partners Europe, said: “We would like to thank the Quayle Munro team for their support throughout the transaction. Quayle Munro’s sector expertise, diligence and independent advice was invaluable in reaching a successful outcome.”

Christian Kent, Managing Director at Quayle Munro, said: “We are delighted to have helped Equistone with their acquisition of Small World and wish them and the business every success in the future. This transaction is further evidence of our expertise in Payments and Financial Services mandates.”

This transaction continues Quayle Munro’s work with private equity with recent transactions involving Aquiline Capital Partners, BC Partners, Bencis Capital Partners, EQT, Five Arrows Principal Investments, Francisco Partners, IK Investment Partners, Inflexion Private Equity, Investcorp, LDC, Naxicap Partners, Oaktree Capital Management, Pollen Street Capital, Silverfleet Capital and TA Associates.

For transaction enquiries please contact:
Christian Kent
Tel: +44 (0)20 7907 4200
Email: christian.kent@quaylemunro.com

Lawrence Guthrie
Tel: +44 (0)20 7907 4200
Email: lawrence.guthrie@quaylemunro.com

About Quayle Munro
Quayle Munro is an independent advisory firm that has an extensive, global track record of working with a wide variety of companies underpinned by data & analytics, content, software and financial services. We advise on a full spectrum of corporate finance matters including mergers and acquisitions, debt and equity fundraisings, IPOs, public transactions, restructurings and strategic and valuation advice. Quayle Munro is particularly adept at working with private-equity-owned and entrepreneurial-led businesses experiencing high growth. For more information please visit our website.

Quayle Munro is being acquired by Houlihan Lokey (NYSE:HLI), a global, independent investment bank with expertise in mergers and acquisitions, capital markets, financial restructuring, valuation, and strategic consulting, with offices in Europe, the United States, the Middle East and the Asia-Pacific region. The agreement was signed on 16 January 2018 and is expected to close following regulatory approvals. For more information on Houlihan Lokey, please visit hl.com.

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