Equity Trust was sold by UK private equity firm Candover to European private equity firm Doughty Hanson in January this year. The senior management of Equity Trust also invested alongside
Doughty Hanson in order to complete the deal which was worth €350m. According to TMF Group, the new company will have a combined revenue in excess of €400m.
Based in Jersey, Equity Trust was a major provider of high-end and complex administrative services to organisations worldwide, including secretarial and legal administration services, structured finance products, fund administration and accounting.
Among its best-known operations in the offshore financial services arena are its Custom House Global Funds Services and Panthera International Pension Solutions joint ventures. Equity Trust was also responsible for launching the Panthera Recognised Overseas Self Invested International
Pension in Singapore which was stripped of its QROPS status in 2008 and is now the subject of an ongoing legal battle with HM Revenue & Customs.
Hugo van Vredenburch, co-CEO of TMF Group, said: “The new TMF Group is unique in its focus on helping businesses globalize. Our professionals around the world help clients expand seamlessly across borders.
“This is an historic moment for both businesses. Creating the world leader in this industry has been the ambition of both companies for several years, and today we have realised this goal. Together, we have a huge global reach – and the right people and services.”