Sky News understands that Travelex has drafted in Goldman Sachs and JP Morgan to work on a deal that could value the stake held by the company's founder, Lloyd Dorfman , at £300m or more. While a transaction is not imminent, insiders said that the appointment of the two investment banks was a signal that one was likely this year. Apax Partners , the private equity group, has owned a controlling stake in Travelex since 2005 and is keen to offload its stake, on which it will augment an already handsome profit. City sources said that JP Morgan was focusing on an initial public offering that would see Travelex make its stock market debut, while Goldman Sachs has been asked to field approaches from potential buyers of the company in addition to assisting with a flotation. Rothschild was brought in last autumn to help evaluate options for the business. A stock market listing, which would probably see Travelex join the FTSE -250 index of the public companies ranked between 101 and 350 by size on the London markets, remains the company's preferred route, the sources added. Travelex was set up in 1976 by Mr Dorfman , who remains its chairman and second-largest shareholder. Mr Dorfman is one of Britain's most successful entrepreneurs, and is thought likely to remain on the board if it decides to pursue a listing. Travelex has been reshaped since Peter Jackson , its chief executive, was recruited from Lloyds Banking Group in 2010, with the sale of its card management and global payments operations for an aggregate total of nearly £1bn. Mr Jackson said last year that trading during the crucial summer period had been strong, and the business is understood to have continued to perform well since then. A Travelex spokesman declined to comment. :: Watch Sky News live on television, on Sky channel 501, Virgin Media channel 602, Freeview channel 82 and Freesat channel 202.
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