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This acquisition is part of Intermex’s ongoing strategy to grow its market leadership through targeted partnerships and acquisitions. In November 2022, the company extended its global footprint by acquiring Envios de Valores La Nacional Corp., a Denver-based remittance provider, expanding the Company’s operations to more than 60 countries and, in April 2023, entered the European remittance market through its acquisition of LAN Holdings, Corp.
By incorporating Amigo Paisano, Intermex continues to drive innovation and expand its offerings, ensuring its customers have access to seamless, culturally relevant money transfer solutions that strengthen family connections across borders.
Financial terms of the transaction were not disclosed; however, the Company anticipates between $3.5MM and $5MM of incremental adjusted EBITDA in 2025.
About International Money Express, Inc. (Intermex):
Founded in 1994, Intermex applies proprietary technology enabling consumers to send money from the United States, Canada, Spain, Italy, the United Kingdom and Germany to more than 60 countries. The Company provides the digital movement of money through the Company’s website and mobile app, as well as through its network of agent retailers in the United States, Canada, Spain, Italy, the United Kingdom and Germany, and its Company-operated stores. Transactions are fulfilled and paid through thousands of retail locations and banks around the world. Intermex is headquartered in Miami, Florida, with international offices in Puebla, Mexico, Guatemala City, Guatemala, London, England, and Madrid, Spain. For more information about Intermex, please visit www.intermexonline.com.
About Amigo Paisano:
Amigo Paisano is a Guatemala-based fintech company that provides an easy and fast way to send remittances to Latin America utilizing Intermex’s infrastructure and operations, as its white-labelled processing partner, since 2019. Known for its strong connection with Latino communities, Amigo Paisano aims to simplify the money transfer process from the US to Latin America with its novel remittances transfer app serving the US-based Latino community.
Forward-Looking Statements:
This press release contains forward-looking statements, including statements regarding the expected benefits of the acquisition, such as expectations regarding enhanced digital coverage and expanded presence in Central America, strengthened ability to deliver innovative and reliable remittance solutions while maintaining meaningful connections with Latino communities, and anticipated incremental adjusted EBITDA in 2025 of between $3.5MM and $5MM, as well as statements regarding the Company’s ongoing strategy to grow its market leadership through targeted partnerships and acquisitions. Forward looking statements may include and be identified by words or phrases, without limitation, such as “would,” “will,” “should,” “expects,” “believes,” “anticipates,” “continues,” “grow,” “may,” “might,” “plans,” “possible,” “potential,” “strategy,” “expand,” “enhance,” “aims”, “ability” and similar expressions (including the negative and plural forms of such words and phrases). These statements are subject to risks, uncertainties and other factors, many of which are outside of our control, that could cause actual results to differ materially. Such factors include, among others, our ability to successfully integrate the Amigo Paisano business and other factors, risks and uncertainties, including those described in the “Risk Factors” and other sections of periodic reports that we file with the Securities and Exchange Commission. Accordingly, we caution investors and all others not to place undue reliance on any forward-looking statements. Intermex undertakes no obligation to update any forward-looking statements.
Investor Relations:
Alex Sadowski
Investor Relations Coordinator
[email protected]
tel. 305-671-8000
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Publish date : 2024-12-04 00:11:00
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