Since private-equity investor Apax bought a 57% stake in 2005, Travelex has refocused on its three core divisions – retail foreign exchange, global business payments and outsourced foreign exchange – and sold its cash-machine portfolio to Cardpoint. Ian Meakins joined as chief executive in 2007 and made his mark by buying the $440m American business-to-business payments company Reusch International. Founder and chairman Lloyd Dorfman retains a 28% stake. Sales were £519m in 2007.

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Company details
ActivityForeign exchange operator
LocationCentral London
Sales £m*519
Profit £m*107
Year endDec 07
Principal shareholdersApax (57%), Lloyd Dorfman (28%), Standard Chartered (7%), management

If applicable:

* Supplied by company † Annualised figure