Bedell Trust, the leading award-winning provider of corporate, fund and fiduciary services, is pleased to confirm that the management buyout ("MBO") announced earlier in April 2016 has successfully received all regulatory approvals and completed on Monday 12th September. Backed by leading independent private equity firm Inflexion, the transaction means that with immediate effect, Bedell Trust and Bedell Cristin are now two separate businesses.
Nick Cawley, who will continue to lead the newly independent business as Chief Executive Officer, commented:
"Bedell Trust has witnessed accelerated growth in recent years and we anticipate this growth will continue. From our clients' perspective, there will be no change to the management team or their existing relationship contacts and we remain firmly committed to providing best in class service. Indeed, we believe our MBO will help create an even better platform to further build our offering to clients.
We are delighted to be partnering with Inflexion, who have a compelling background in supporting the strategic aspirations of financial services sector businesses similar to ours and we are confident that we are working with the very best partner.
This next exciting stage of our evolution has only been made possible because of the support provided by the continuing management team of Bedell Trust and the partners at Bedell who both helped build and subsequently grow Bedell Trust into the successful and dynamic business that it is today."
Florencia Kassai, Partner at Inflexion said:
"This is an exciting time for both Bedell Trust and Inflexion. Bedell Trust is renowned for great client service and underpinned by a highly credible reputation and we are committed to supporting Bedell Trust in achieving their strategic aspirations across each of the strongly growing markets in which they operate. This partnership is based on the shared vision of building a business for the long-term, utilising our sector expertise, capital and ambition. We firmly believe Bedell Trust will emerge as the leading player in the corporate services, fund and fiduciary administration sectors".
In addition to completing the MBO, Bedell Trust has also been recently recognised as the 'Trust Company of the Year' at the prestigious 2016/2017 annual STEP awards. This is the second time in recent years Bedell Trust has achieved this award which is seen as one of the preeminent accolades within the global private wealth industry.
Bedell Trust has over 250 employees and operates from Jersey, Guernsey, London, Luxembourg, Dublin, Singapore, Mauritius and Cayman.
Advisers involved in the MBO transaction included:
For Bedell Trust - Macfarlanes and Bedell Cristin (Legal), Wyvern (M&A), Alex Picot (Structuring, Tax), KPMG (Compliance Due Diligence), Cooper Gay (Insurance)
For Inflexion - KWM and Mourant Ozannes (Legal), Deloitte (Financial Due Diligence), Jardine Lloyd Thompson (Insurance)