Announcements

SRZ Advises Western Union on Acquisition of Custom House

SRZ was regulatory counsel to The Western Union Company in connection with its acquisition of Victoria, Canada-based Custom House Ltd. for $370 million in cash on hand. Custom House, owned by private equity firm Great Hill Partners, is a provider of B-to-B international payments solutions. Under the terms of the transaction, which closed on Sept. 1, Custom House will become part of the Western Union Global Payments segment, while continuing to operate under its existing management in Canada, Western Union officials said the acquisition will expand its presence in the small- and medium-size enterprises payment market, diversify its product portfolio and expand its customer base. Donald J. Mosher, Ida Wurczinger Draim, Emily Goodman Binick and Kara Kuchar worked on the deal. Due diligence included a review of Custom House’s regulated U.S. operations, as well as its international operations in Australia, Singapore, Italy and the United Kingdom.