Lumon has agreed to acquire Abacus FX, an international payments specialist based in London with a strong presence across Europe. Founded in 2018, Abacus FX has built a significant client base by offering corporate international payments and hedging services for small enterprises and SMEs. The company has reported a transaction volume nearing 700 million over the last year. Tom Parry, CEO of Lumon, expressed enthusiasm for the acquisition, noting that Abacus FX’s expertise aligns well with Lumon’s values. Michael England, Partner at Pollen Street Capital, highlighted this acquisition as Lumon’s sixth since Pollen Street’s investment in 2018. The transaction is expected to accelerate Lumon’s corporate division’s growth both in the UK and internationally. Eliot Bassett from Abacus FX also expressed confidence in the synergy between the companies.
Financial Services, Private Equity, Corporate Finance,United Kingdom, Europe
https://www.pollenstreetgroup.com/latest-news/lumon-acquires-abacus-fx/