Pursuing its strategy of focusing on its core businesses of travel money services and international payments, Travelex this year sold its portfolio of 1,000 cash machines to Cardpoint for nearly £13m. The company’s chief executive, Ian Meakins, who was appointed in January, has also made his mark with the $440m acquisition of the American business-to-business payment services company Ruesch International. Founder Lloyd Dorfman retains a 28% stake in the company since the buyout in 2005, in which the private-equity house Apax took 57% of the company in a deal worth more than £1 billion. Sales were £528m in 2006.
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