Hawksford, an independent trust company backed by UK mid market private equity firm Dunedin, has acquired Trustcorp, a Jersey-based trust and corporate services provider. This is the eleventh acquisition made by a Dunedin-backed business in the last twelve months.
Hawksford, an independent trust company backed by UK mid market private equity firm Dunedin, continues its expansion with the acquisition of Trustcorp Jersey Limited (Trustcorp), a Jersey based trust and corporate services provider, to become the largest independent trust company in Jersey. This is the eleventh acquisition made by a Dunedin backed business in the last twelve months and is a prime example of Dunedin’s buy and build strategy of backing businesses with international growth opportunities.
The acquisition forms a significant part of the company’s growth strategy and follows recent expansion into the Middle East and Switzerland. Hawksford opened its Dubai office in June 2011 and acquired L-S&S GmbH, a Zurich boutique private wealth law firm, in August 2011. The acquisition of Trustcorp will boost Hawksford’s capacity and increase headcount by 30, to over 150 staff.
Dunedin Managing Director Shaun Middleton, who sits on Hawksford’s board, commented: “Dunedin is focused on driving growth through international expansion. This is being achieved through pursuing an active buy and build strategy and by strengthening Hawksford’s geographic footprint.”
Since its management buyout in October 2008, Hawksford has gone from strength-to-strength. It was crowned Trust Company of the Year at the 2011 Citywealth Magic Circle Awards and has been recognised as a Top 25 Trust Company by Private Client Practitioner for the second year running. Last year Hawksford was awarded the title of Independent Trust Company Team of the Year for 2010/2011 at the STEP Private Client Awards.
Dunedin’s Shaun Middleton and Oli Bevan worked with the Hawksford team on the acquisitions.
For further information, please contact Equity Dynamics:
Jane Kirby +44 (0) 7825 326 441
Corinna Osborne +44 (0) 7825 326 440
Dunedin provides equity finance for management buyouts and management buyins with a transaction size of £20 million – £75 million. It is an independent private equity house, owned by its directors and staff, operating throughout the UK from offices in Edinburgh and London.
In 2006, it raised a £250 million buyout fund that was significantly oversubscribed. It also manages the quoted private equity investment trust, Dunedin Enterprise Investment Trust PLC.
Since raising its latest fund, Dunedin, has made investments in Red Commerce, Fernau, WFEL, Enrich, Formaplex, Hawksford, Weldex, U-Pol and CitySprint and has already successfully realised its investment in Fernau.
About Hawksford International
Hawksford International is a leading independent fiduciary services provider with a range of differentiated product offerings, which include investment fund administration, employee solutions, law services including wills and probate, family office and the management of image and royalty rights.