Corpay completes $2.4 billion acquisition of Alpha Group International

Corpay, Inc. (NYSE: CPAY), a leader in corporate payments, has officially finalized its $2.4 billion acquisition of Alpha Group International plc (LSE: ALPH). Alpha Group is a prominent provider of cross-border foreign exchange (FX) solutions and global bank accounts, primarily serving corporations and investment funds in the UK and Europe.

"We’re thrilled to officially welcome Alpha to the Corpay family. Alpha is a leading provider of global bank accounts to European-based investment managers, and we expect to expand those investment manager relationships into the US and Asia", said Ron Clarke, chairman and chief executive officer of Corpay, Inc. He added, "With our integration planning well underway, we remain confident in the synergies and expect to deliver meaningful accretion in 2026."

Strategic Financial Moves Support Acquisition

To support this acquisition, Corpay has taken significant steps to bolster its financing. The company closed an amendment to its revolving credit facility, increasing it by $1 billion to a total of $2.775 billion. Additionally, Corpay secured a new $900 million Term Loan B with a seven-year maturity. The proceeds from these financings were initially allocated to help fund the Alpha acquisition.

"We’re very pleased with the broad participation and oversubscribed demand for our credit facilities, which reflects the broad-based confidence in Corpay’s durable earnings power", said Peter Walker, chief financial officer of Corpay, Inc.

The acquisition is supported by stable credit ratings for Corpay, as both Moody’s and S&P Global maintained their ratings at Ba1 and BB+, respectively, with a stable outlook.

Banking Support and Forward-Looking Vision

The financing arrangements were facilitated by a consortium of major financial institutions. Bank of America, N.A. acted as the Administrative Agent, with entities such as BofA Securities, Inc., Barclays, J.P. Morgan Securities LLC, and others serving as Joint Lead Arrangers and Joint Bookrunners.

Despite the complexities of integration, Corpay remains optimistic about the acquisition's potential to drive growth, particularly by leveraging Alpha Group’s strong European client base and extending its reach into the U.S. and Asia. The company forecasts meaningful synergy-related gains by 2026.

While Corpay moves forward with optimism, its leadership cautioned that forward-looking statements involve uncertainties, particularly around integration, macroeconomic factors, and strategic execution. As stated in its filing, Corpay urged caution with these projections, emphasizing that they are based on preliminary information and assumptions.

This acquisition marks a strategic step in Corpay’s ongoing expansion within the global financial services landscape. By incorporating Alpha Group’s expertise and resources, Corpay is positioning itself to further enhance its suite of cross-border payment and banking solutions for a broader global audience.

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