Ocorian to Acquire Jersey-Based Private Client and Corporate Services Provider, Capco Trust24 Jan 2018
Ocorian, a leading global financial services provider, announced today that it has entered into a definitive agreement to purchase Capco Trust (“Capco”), an independent Jersey-based private client and corporate services business.
The acquisition expands Ocorian's service capabilities, increasing its client base and the scope of service offering to include expertise in all aspects of international maritime structuring. In turn, Capco’s clients will now benefit from an enhanced range of specialist financial services across a much wider range of international jurisdictions.
Expected to close before the end of January 2018, the transaction will realise the next stage of a progressive trajectory for Ocorian, following the management buyout and successful rebrand of Bedell Trust in 2016.
All 29 staff from Capco will join Ocorian’s 350+ strong international team to support and grow the strong client relationships that are at the core of this acquisition.
Commenting on the acquisition Nick Cawley, CEO of Ocorian, said:
“This transaction reflects the sustained expansion and diversification of Ocorian's newly defined business and our commitment to growth in leading jurisdictions. It will further strengthen our position as a leading global financial services provider and complement our existing private client and corporate services business with additional expertise and capability in international maritime structuring.”
David Capps, Group Chairman of Capco Trust added:
"Our ambition for this transaction was to find a good home for our staff in the form of a partner that would sustain and strengthen the development of our private client and niche corporate services businesses, to the benefit of our clients – who will now be able to access a greater array of specialist financial services across a wider range of international jurisdictions.”
Deloitte and Bedell Cristin acted as advisors to Ocorian in this transaction. Capco were advised by Wyvern and Carey Olsen.
Financial terms of the transaction have not been disclosed.
For further information, please contact:
Ocorian press office: firstname.lastname@example.org
Jacqui Henderson, Marketing Communications Manager, Ocorian +44 (0)20 7367 8314
Kate Martin, Associate Director - Communications, Ocorian +44 (0)20 7367 8322