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Prosek Partners and ICR Inc. handle Flywire as the Boston-based global payments company raises $250M in its IPO.
Flywire CEO Mike Massaro plans to use the IPO proceeds for technology and solutions development and for possible acquisitions to complement his company’s offerings.
The company supports more than 2,250 clients with payments in more than 130 currencies in 240 countries.
The IPO comes just ahead of the summer travel season, in which seven in ten frequent travelers expect to spend more this year than they have in the past five years, according to a Flywire survey report released May 12.
Colin Smyth, travel GM at Flywire, said people planning to explore the post-pandemic world are looking for travel companies that offer “seamless, transparent and secure payment options.”
Prosek handles media for Flywire, while ICR deals with investors.
As capital concentrates among established firms, emerging managers must find new ways to earn investor confidence.
Teneo handles True Food Kitchen as the Scottsdale, AZ-based wellness food restaurant chain that counts Oprah Winfrey as a minority investor files for Chapter 11.
FGS Global and Teneo represent Canada’s billionaire Weston family as its Wittington Investments holding company acquires Boots Group, the 177-year-old UK health & beauty retailer, from Sycamore Partners for $8.9B.
Joele Frank handles C.H. Robinson Worldwide as the freight transportation company acquires RXO Inc. in a stock and cash transaction pegged at $5.8B to create a company with an enterprise value of more than $25B.
Brunswick Group handles France’s Schneider Electric as it acquires Boston’s PTC, maker of engineering software, for $22.6B cash.
