An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Corsair-Backed TreviPay Completes Global Receivables Securitization and Sale of Non-Core Business Unit
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
NEW YORK--(BUSINESS WIRE)--
Corsair, a leading private equity firm targeting services, software, and payments investments in the financial services ecosystem, today announced that its portfolio company TreviPay (the “Company”), a leading B2B payments business, has closed its first global receivables securitization, replacing $175 million of on-balance sheet asset-backed loans (ABL) with a growth-oriented and operationally flexible $230 million off-balance sheet (OBL) securitization. Corsair also announced that TreviPay has completed the sale of its Multi Service Fuel Card business unit to Shell Oil Company.
“When we partnered with CEO Brandon Spear and the TreviPay team just over a year ago, we identified a strategic plan to complete this securitization and non-core business unit sale by 2022,” said Corsair Partner Jeremy Schein. “We are pleased to have achieved this goal well ahead of schedule, allowing us to focus on executing our organic and inorganic growth strategies to position the Company for long-term success. We’re excited for TreviPay’s bright future as a leader in the growing B2B payments space.”
Corsair completed a complex carveout and acquired TreviPay, formerly known as MSTS, in September 2020 from World Fuel Services Corporation (NYSE:INT). Corsair has significant experience investing in and supporting growth at payments and financial technology-enabled companies including REPAY, Spring Venture Group, IDnow, Axo AS, and RGI.
About TreviPay
TreviPay is a global financial technology company specializing in complete digitization of B2B payments through secure trade financing to drive enhanced customer loyalty. The Company supports merchants by streamlining the purchasing experience and supporting increased customer interaction in B2B Commerce, facilitating $6 billion USD in transactions per year in 18 currencies for customers in more than 27 countries. To learn more about TreviPay, please visit TreviPay.com.
About Corsair
Corsair is a global specialist investment firm offering opportunities for investors and solutions for companies across financial & business services and infrastructure. The firm has almost three decades of experience partnering with businesses at the crossroads of technology transformation and financial services complexity and established its complementary infrastructure investment practice in 2015. Corsair has invested $12 billion in capital across its global buyouts and infrastructure platforms since inception.
headquartered in miami, florida, world fuel services is a leading global fuel logistics company, principally engaged in the marketing, sale and distribution of aviation, marine and land fuel and related products and services on a worldwide basis. world fuel services sells fuel and delivers services to its clients at more than 8,000 locations in more than 200 countries and territories worldwide. the company's global team of market makers provides deep domain expertise in all aspects of aviation, marine and land fuel management. aviation customers include commercial airlines, cargo carriers, private aircraft and fixed base operators (fbos), as well as the united states and foreign governments. world fuel services' marine customers include international container and tanker fleets, cruise lines and time-charter operators, as well as the united states and foreign governments. land customers include petroleum distributors, retail petroleum operators, and industrial, commercial, and govern
