Western Union Business Solutions Finds a Buyer
(10 August 2021 – Global) Western Union has announced they have found a buyer for Western Union Business Solutions (WUBS) in Goldfinch Partners and The Baupost Group for approximately $910 million.
Western Union established WUBS following the acquisitions of Custom House in 2009 and Travelex Global Business Payments in 2011. The company, which facilitates cross-border, cross-currency payments and foreign exchange solutions for small and medium-sized businesses and other organizations, represented approximately 7 percent of total Western Union revenue during the last 12 months ended June 30, 2021.
The acquisition by Goldfinch Partners, a private equity firm investing in businesses at the forefront of digital transformation, and The Baupost Group, a $31 billion Boston-based investment firm, is expected to close by the end of 2022.
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