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Macfarlanes advises RBS Equity Finance on its second deal to complete within two weeks
Macfarlanes has advised RBS Equity Finance on its acquisition of a majority shareholding in, and the provision of equity growth capital to, Voice Commerce Group (VCG). Last week Macfarlanes announced that it had advised RBS Equity Finance on a follow on investment in TTT Moneycorp.
VCG is a rapidly growing payments business and a principal member of the Visa and Mastercard networks. It supplies a number of products and services via its "Cashflows" brand. The capital invested by RBS Equity Finance will be used to bring innovative new products to the market and support the growth of existing services. As the payments industry is developing rapidly, VCG will be well positioned to take advantage of high growth markets including mobile payments, contactless technology and new verification technologies.
TTT Moneycorp is a leading non-bank provider of foreign exchange services and operates in an attractive sector. It is well positioned with opportunities to exploit growth potential in both new and existing markets, driven by rapidly evolving technologies and customer behaviours. There is also potential for Moneycorp to consolidate a fragmented industry with a number of bolt-on acquisitions in both high-growth and high-tech markets. RBS Equity Finance, as the sole institutional investor in Moneycorp, will be better able to execute the growth strategy that they have developed over recent months.
Stephen Drewitt, the corporate partner at Macfarlanes who led the team on VCG and TTT said: "We are delighted to have completed two deals for RBS Equity Finance in the last two weeks. In a market in which it is difficult to complete transactions, it is very rewarding to have clients of the quality of RBS Equity Finance who are continuing to invest with success."
For further information, please contact Stephen Drewitt.
09 November 2011
