Boston Multi Family Office has acquired the international fiduciary services business IQE.
The move is part of Boston’s long-term growth strategy in the market and is the first acquisition made since the management buyout in October 2019.
The deal will see IQE staff transfer to Boston’s offices in Douglas, with IQE directors David Karran, Moira McHarrie and Anne Couper Woods joining Katherine Ellis, Alex McNee and Sarah Ingrassia on the Boston board.
IQE offers trust and estate planning, and family office services in the Isle of Man, BVI, Channel Islands, UK, Ireland and Malta.
The financial terms of the deal were not disclosed.
Katherine Ellis, Boston MFO chief executive, said: “It was clear that Boston and IQE shared very similar values and that the businesses were a very good strategic fit that would help drive our plans for the future.
“As well as strengthening our expertise and broadening our client base, the acquisition will also enable us to offer additional services such as sponsoring securities for The International Stock Exchange.
“These will benefit our existing clients and provide a pathway to new markets and opportunities.”
The acquisition is supported by a group of high net worth investors via Rockpool Investments, the investor company behind the management buyout last year.
Guy Ellis, investment director of Rockpool, said: “We believe this will be the first of a number of select acquisitions that will see the Boston team continue to build their client focused approach in the market.”