NEW YORK – Stella Point Capital (Stella Point), a New York-based private equity firm focused on industrial, consumer, and business services investments, today announced an agreement to acquire Intermex Wire Transfer, LLC (Intermex), one of the leading processors of money transfer services in the U.S.-to-Latin America corridor, from private equity firm Lindsay Goldberg. The terms of the transaction were not disclosed.
Intermex offers money remittance services making convenient wire transfers available to its network of more than 30,000 payer locations, in 45 states and 16 Latin American countries. Founded in 1994, the company is based in Miami, Florida and employs more than 420 experienced professionals in a variety of functions, including Sales, Marketing, Finance, Accounting, Compliance, Operations, Information Technology and Customer Service. The company also has two subsidiary offices in Mexico and Guatemala as well as locations in South America, Central America, and the Caribbean.
“Over the past ten years, Intermex has achieved tremendous growth as it expanded its money remittance services beyond the Southeastern U.S. and into Western and Northern U.S. territories, including states where there is significant demand for Latin American money transfers,” said Adam Godfrey and Justin Wender, Managing Partners of Stella Point. “We believe Intermex is well-positioned for long-term growth as there are many opportunities to further penetrate into its current markets. We look forward to working with its talented team of senior executives to support their continued success through multiple initiatives as they grow organically.”
“We have known the Stella team for many years and are pleased to partner with them to build upon our momentum and further accelerate growth,” said Robert Lisy, Chief Executive Officer and President of Intermex. “We remain focused on our growth strategy and are committed to delivering superior customer service to an even broader range of customers seeking money transfers between the U.S. and Latin America. Stella has a strong track record of investing and is an ideal partner to help us capitalize on the opportunities that lie ahead.”
The transaction closed in February 2017. The current management team, led by Robert Lisy, Chief Executive Officer and President, will remain in place.
About Intermex
Intermex Wire Transfer, LLC provides money transfer/remittance services in the United States and Latin America. The company offers wire transfer, telewire, money order, and check processing/cashing services. It serves customers through a distribution network in Puebla, Mexico; and agents and company stores in the United States. The company was founded in 1994 and is headquartered in Miami, Florida with subsidiary offices in Mexico and Guatemala. It also has locations in Mexico, Guatemala, South America, Central America, and the Caribbean.
About Stella Point
Stella Point Capital is a New York-based private equity firm focused on industrial, consumer, and business services investments. Founded by Managing Partners Justin Wender and Adam Godfrey, the firm actively seeks investment opportunities throughout North America, working closely with management teams to identify strong market positions and achieve transformational growth. Stella Point’s team has an outstanding track record, with over 75 years of combined investing and operating experience at leading global private equity firms, and its partners have invested over $2 billion of equity capital across more than 35 investments. Stella Point provides unparalleled senior level attention and expertise, seeking to cultivate strong relationships with portfolio companies to generate superior investment returns and significant long-term value. Please visit www.stellapoint.com for additional information.
Contacts:
Stella Point Capital
Jennifer Stroud
Sard Verbinnen & Co
(212) 687-8080