Fexco acquires English foreign exchange firm

Monday 17 February 2014 08.03
Fexco already owns the No 1 Currency brand, which operates in Britain
Fexco already owns the No 1 Currency brand, which operates in Britain

Financial services company Fexco is to acquire English foreign exchange retailer InterCash.

The deal comes shortly after the Kerry-based firm announced plans to open 20 new foreign exchange outlets in Britain by the end of 2015.

Fexco anticipates strong growth in demand for foreign exchange services in countries like Britain.

It said the InterCash network would become part of its No 1 Currency brand, which it acquired in 2012.

The company’s director of foreign exchange services, Joe Redmond, said the acquisition of InterCash would help the firm become “increasingly well positioned” as the economy there returned to growth.

Fexco provides a number of financial services in addition to foreign exchange, including merchant services and asset finance.