Fexco continues UK expansion with CEC acquisition

Irish financial services group Fexco has announced the acquisition of UK rival CEC in its largest corporate transaction in the UK ever.

The multinational firm headquartered in Killorglin, Co Kerry, has finalised a deal for the London-based foreign exchange company for an undisclosed fee.

CEC’s 36 London branches will become part of Fexco’s retail foreign exchange operation — which trades as No.1 Currency in the UK and Ireland — and continue the company’s UK expansion.