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Advised management of Fintrax on private-equity backed management buyout
Matheson, lawyers of choice for international companies and financial institutions doing business in and through Ireland, advised the management of Fintrax as part of a private-equity backed management buyout (MBO).
The deal, which is valued at €170 million, will see Exponent, a UK-based private equity group, acquire the 70% share of the company owned by founder Gerry Barry and his family, with the remaining management team reinvesting their 30% stake in the new investment vehicle.
Fintrax, which employs over 400 people across 26 countries, specialises in multicurrency payments, VAT refunds and credit card processing. It has been a leading provider of payment services to overseas visitors and international organisations for the past thirty years through its VAT refund business, Premier Tax Free.
The team from Matheson comprised George Brady and Fergus Bolster from the firm’s Corporate Department.