|Type||Private limited company|
|Headquarters||Kingsway, London, England|
|Key people||Lloyd Dorfman (Founder and Chairman)|
|Owner(s)||Apax Partners and Lloyd Dorfman|
Travelex Group is a foreign exchange company founded by Lloyd Dorfman and headquartered in London. Its main businesses are international payments, bureaux de change and issuing prepaid credit cards for use by travellers. It is the world's largest foreign exchange bureau and is a major donor and sponsor of the Royal National Theatre.
Travelex was founded by Dorfman, opening its first branch in central London in 1976.
In February 2005, buy-out firm Apax Partners bought a majority stake in the company, however Dorfman retained 30% and continued to run the business. Ian Meakins was CEO from 2006-2009, before becoming CEO of Wolseley plc.
In early 2010 Travelex disclosed significant losses due to the interest payments on its large debts. It had pulled back from a stock market flotation the year before and said that it was now "considering a range of potential financing structures". Later that year it sold its card programme management division to MasterCard for £290 million to help reduce its debts.
By 2012, Travelex had operations in 25 countries, over 1,000 branches and a total workforce in excess of 6,500.
- Travelex Group information on official website, accessed 5 November 2012.
- Brown, Mark "National Theatre's Cottesloe venue to be renamed after £10m donor" The Guardian 28 October 2010. Retrieved 7 December 2010.
- Travelex (2007). "Travelex Press Release". Travelex. Retrieved October 9, 2007.
- London(Business Wire) (November 8, 2000). "Travelex plc Acquires Thomas Cook Financial Services Division". Retrieved January 8, 2011.
- "Apax Partners to Buy Majority of Britain's Travelex". Bloomberg. February 28, 2005. Retrieved February 01, 2011.
- "Travelex in race to sort out huge debt". thisismoney.co.uk. 29 August 2010. Retrieved 4 March 2010.
- Wilson, Harry (9 December 2010). "MasterCard buys Travelex division for £290m". London: The Telegraph.
- Patricia Kuo (December 10, 2010). "Travelex Loans Rise on Plans to Cut Senior Debt After Unit Sale". Bloomberg. Retrieved February 01, 2011.
- "Western Union to Acquire Travelex Global Business Payments". Businesswire. July 05, 2011.
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