Corpay to acquire Alpha Group for $2.2 billion

ATLANTA - Corpay, Inc. (NYSE:CPAY), currently valued at $5.2 billion with annual revenues of $2.35 billion, announced Wednesday it has reached an agreement to acquire Alpha Group International plc (LSE:ALPH) in a cash transaction valuing the company at approximately $2.2 billion. According to InvestingPro analysis, Corpay appears undervalued based on its Fair Value metrics.

Alpha Group is a provider of B2B cross-border foreign exchange solutions to corporations and investment funds in the UK and Europe. The company offers alternative bank accounts for investment managers to fund investments and pay expenses across Europe, currently holding approximately $3 billion in deposits across more than 7,000 client accounts.

Under the terms of the deal, Alpha shareholders would receive £42.50 per share, representing a 55% premium to Alpha’s closing share price on May 1, 2025. The acquisition will be conducted through a court-sanctioned scheme of arrangement under the UK Companies Act 2006.

Alpha’s board intends to unanimously recommend shareholders vote in favor of the scheme. Morgan Tillbrook, Alpha’s founder and former CEO, has signed an irrevocable undertaking supporting the transaction.

"This transaction meaningfully expands our relationships with investment managers and results in four Cross Border customer segments: corporates, financial institutions, investment funds and digital currency providers," said Ron Clarke, Chairman and CEO of Corpay, in a press release statement. The company maintains a strong financial position with a healthy current ratio of 2.04 and a conservative debt-to-equity ratio of 0.29, according to InvestingPro data.

Corpay expects to fund the acquisition through a combination of cash, debt, bank capital optimization and non-core divestitures. The transaction is anticipated to close in the fourth quarter of 2025, subject to shareholder and regulatory approvals. InvestingPro subscribers can access detailed financial health analysis, with over 30 additional metrics and exclusive ProTips about Corpay’s growth potential and acquisition strategy.

The company reiterated its Q2 2025 guidance and stated the acquisition is expected to be accretive to earnings per share in 2026. With an overall Financial Health Score of 2.4 (FAIR) from InvestingPro, the company appears well-positioned to execute this strategic acquisition.

Oppenheimer Europe Limited served as financial advisor to Corpay, with Jones Day acting as legal counsel for the transaction.

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