Hawksford has acquired Key Trust Company. This is its fourth acquisition since it was backed by UK mid-market private equity house Dunedin in October 2008. This follows Hawksford’s recent expansion in Jersey, the Middle East and Switzerland and forms part of its wider growth strategy.
Hawksford, the leading independent trust company has today acquired Key Trust Company Ltd. This is the fourth acquisition since it was backed by UK mid-market private equity house Dunedin in October 2008.
This follows Hawksford’s recent expansion in Jersey, the Middle East and Switzerland and forms part of its wider growth strategy. In the last two years the business has completed the acquisitions of Trustcorp Jersey Limited,L-S&S GmbH, a Swiss boutique private wealth law firm, and the funds business of Standard Bank Dubai. Hawksford has also appointed a new chairman, Philip Taylor, to help drive the company’s development into new markets.
Hawksford is already the largest independent trust company in the Channel Islands and boasts revenues in excess of £20 million. Hawksford was established in 2008 following the management buyout of Rathbone Trust Company Jersey Limited, backed by Dunedin. Since this date the company has been focused on growth both organically and through acquisitions.
David Williams from Dunedin who sits on Hawksford’s board, commented: “Dunedin is focused on driving international growth for its portfolio companies. We have been working with the management team at Hawksford to identify attractive acquisition opportunities as part of a proactive buy and build strategy. The acquisition of Key Trust will boost the company’s capacity with its headcount increasing from 153 to 166, therefore further enhancing its market leading-position.”
Peter Murley, chief executive of Hawksford said: “This acquisition will enable the clients of Hawksford and Key Trust to gain access to an even wider resource pool of experts, an opportunity we view as a positive move for the business. We are very pleased to welcome the Key Trust staff to the Hawksford team.”
In the last two months Dunedin has also announced its exit from market leading conference and training venues business, etc.venues, which saw Dunedin realise a money multiple of more than 3x on its investment; as well as the management buyout of Premier Hytemp which Dunedin backed in a £34.5 million transaction and the announcement that Dunedin backed CitySprint acquired Eagle Express Worldwide Couriers.
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Dunedin is a UK mid-market private equity investor targeting buyouts of market leading companies in the UK with a deal size of £20m to £75m. Dunedin typically invests £20m or more in its portfolio companies.
Dunedin focuses on a number of sectors, using its depth of knowledge to understand the market drivers and to build relationships with management teams, key industry participants and influencers. The firm has enjoyed particular success in the industrial, business services and financial services sectors, completing fourteen portfolio acquisitions since 2011 in order to drive the growth and internationalisation of its investee businesses.
Located in Edinburgh and London, Dunedin has a new investment team comprising 16 investment professionals with approximately 200 years of private equity experience between them.
Dunedin LLP is a limited liability partnership authorised and regulated by the Financial Services Authority
About Hawksford – (www.hawksford.com)
Hawksford is an independent wealth structuring company specialising in preserving and enhancing wealth. Clients range from small and large corporates to ultra high net worth individuals. Hawksford offers trusts, companies, foundations, partnerships, family offices, investment fund administration, succession planning and employee solutions.
The management bought the business from Rathbone Brothers Plc in 2008 and since then has grown in numbers, capability and position in the market. The buyout was backed by Dunedin and the directors remain majority stakeholders. In September 2011 Hawksford launched its new brand.
Hawksford has just been crowned Owner- managed Trust Company of the Year 2012/2013 at the STEP Private Client Awards. In 2010 Hawksford was crowned Independent Trust Company Team of the Year 2010/2011 at the STEP Private Client Awards and has been named as a finalist for 2012/2013. In 2011 Hawksford was recognised as Trust Company of the Year at the Citywealth Magic Circle Awards and was shortlisted for the same accolade again in 2012. In 2010 and 2011 Steve Carr, associate director at Hawksford, was recognised by Private Client Practitioner in the Top 35 Under 35 rankings. Hawksford was also recognised in 2010, 2011 and 2012 by Private Client Practitioner, as a Top 25 Trust Company in its annual listing.
Hawksford has an established network of partners in other locations and is actively seeking expansion into countries that will add further value to clients. Hawksford now has operating capabilities in Jersey, British Virgin Islands, New Zealand, Singapore, Switzerland and the United Arab Emirates.
Hawksford is a leading independent wealth structuring company specialising in preserving and enhancing wealth. The company provides a dedicated range of services for a diverse list of multi-generational families through its family office business, and administers investment fund work through its funds business. Hawksford offers wealth structuring solutions through its businesses: Hawksford Fiduciary, Hawksford Family Office, Corporate Solutions, Hawksford Employee Solutions, Hawksford Funds, Hawksford Wills & Probate, Hawksford Advisory, Hawksford Succession Planning and Hawksford Media & Sport.
About key Trust
Key Trust was part of the Key Group, which has been delivering personalised wealth management and administration for high net worth clients and their professional advisers since 2000. The company’s excellent reputation as an award winning trust company has been built on the strength of its service and its skilled, experienced staff.