Corpay announced that it has reached an agreement for a cash acquisition of Alpha Group, valuing Alpha at approximately $2.2 billion. Alpha provides B2B cross-border FX solutions and holds around $3 billion in deposits across 7,000 accounts.
Under the deal terms, shareholders will receive £42.50 per share, a 55% premium, valuing Alpha at approximately $2.4 billion.
The acquisition is expected to close in Q4 2025, pending approvals, and will be financed through a combination of cash, debt, bank capital, and divestitures.
Advisors: Oppenheimer Europe Limited served as the financial advisor to Corpay, and Jones Day provided legal counsel to Corpay.
KEY QUOTES:
“We couldn’t be happier to acquire Alpha. This transaction meaningfully expands our relationships with investment managers and results in four Cross Border customer segments: corporates, financial institutions, investment funds and digital currency providers.”
“We’re acquiring Alpha for three reasons. First, it’s a large, highly complementary, fast-growing corporate payments asset with good prospects. Second, Alpha is a leading provider of alternative bank accounts to European-based investment managers. There is significant runway to expand those investment manager relationships into the US and Asia with our help. The banking account product and Alpha’s technology extend our Cross Border solution set and further diversify our revenue streams. And third, we expect the acquisition to be meaningfully EPS accretive in 2026.”
Ron Clarke, Chairman and CEO of Corpay
“We’re delighted to consummate this transaction with Corpay. Corpay’s position as the leading non-bank provider of B2B cross border solutions is the perfect home for our people and will broaden their career prospects over time. Additionally, Corpay’s global footprint, licenses, bank relationships, technology, and balance sheet will accelerate our growth momentum, particularly in our institutional investor business.”
Clive Kahn, CEO of Alpha Group
