Since being acquired by Apax in 2005 Travelex has grown geographically and through innovative product expansion.
The company posted an EBITDA of £80.1m on revenues of £695m last year.
Apax co-CEO Andrew Sillitoe said, “Since Apax Funds took an ownership stake in 2005, we have worked closely with Lloyd Dorfman and the management team to transform Travelex into a stronger company, expanding the business through new markets and product offerings, and improving operational performance.
“The team has accomplished a great deal and we have every confidence in the business’s long-term prospects.”
Earlier this month it was reported that Travelex was considering an IPO after seeing its profits soar 266 per cent in the first quarter.
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