The deal, worth €350m, was originally signed on 10 September. It sees Doughty Hanson take a majority share in Equity Trust, with continued investment from Equity Trust’s senior management team.
Doughty Hanson said it now plans to merge Equity Trust with administration services provider IMF Group of which it also owns a majority stake. The merged business will operate in over 70 countries, with more than 4,000 staff and combined revenues in excess of €400m.
“We are delighted to have reached the stage where Doughty Hanson’s investment in Equity Trust has completed,” states Frederik van Tuyll, CEO of Equity Trust. “This signals the start of a new era in our company’s history, which will enable us to realise our ambitions for growth. Plans for our merger with TMF Group can now proceed to the next stage.”
