Payments company Corpay has agreed to acquire Alpha Group International for an enterprise value of $2.2bn.  

Alpha Group offers B2B cross-border foreign exchange (FX) solutions, catering to corporations and investment funds in the UK and Europe.  

The company has been offering alternative bank accounts, which enable investment managers to manage funding and expenses across Europe. 

Currently, Alpha oversees around $3bn in deposits across more than 7,000 client accounts. 

Alpha Group CEO Clive Kahn said: “We’re delighted to consummate this transaction with Corpay. Corpay’s position as the leading non-bank provider of B2B cross border solutions is the perfect home for our people and will broaden their career prospects over time.  

Corpay expects Alpha’s Corporate FX business, which has a presence in Europe, Canada, and Australia, to complement its existing cross-border operations. 

The deal is expected to combine Alpha’s regional expertise and banking solutions with Corpay’s international reach and operational infrastructure. 

As part of the acquisition, Alpha shareholders would receive £42.50 per share, a 55% premium over the share price on 1 May 2025.  

The deal is slated to complete in the fourth quarter of 2025, subject to the approval of shareholders and regulators, as well as customary closing conditions. 

Corpay chairman and CEO Ron Clarke said: “We couldn’t be happier to acquire Alpha. 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.”  

In May, Corpay collaborated with TPG to acquire AvidXchange in an all-cash deal valued at $2.2bn, taking the payments firm private.  

AvidXchange, known for its SaaS-based accounts payable automation and payment solutions, caters to the middle market by digitising and automating AP workflows.