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Dunedin bolts on fifth deal for wealth structuring company Hawksford

7 Mar 2014

UK mid-market private equity house Dunedin has backed a fifth bolt-on deal for independent trust company Hawksford, with the acquisition of Singapore based corporate services provider Janus Corporate Solutions.

Equity funding was provided by Dunedin and debt by HSBC Bank with a total financing package thought to be in the region of £16m. The company’s revenue pre-acquisition was £20m

Dunedin invested in Hawksford in October 2008 and the deal reflects the underlying growth strategy to expand the business internationally, according to David Williams, partner at Dunedin who sits on Hawksford’s board.

He said, “Strategically the acquisition of Janus will be game changing for Hawksford.  It will significantly increase the size of the business as well as its geographic footprint and the range of services it offers.   The company is committed to offering its clients the highest quality range of services when and where they need it, and this client service philosophy very much underpins the acquisition of Janus.

“There is considerable and growing demand among corporate and private clients for high quality trust and fiduciary services in Singapore and as a result the market is undergoing significant expansion. Growing levels of private wealth in Asia will also offer opportunities to provide services to high net worth individuals. “

Hawksford is already one of the largest independent trust companies in the Channel Islands with assets under administration of £30bn.

The acquisition of Janus will increase the profits of the Hawksford group by 25 per cent and the total number of clients serviced by the combined group will increase from 1,800 to over 3,300.

In 2013 Hawksford completed the acquisition of Key Trust in Jersey. In the last three years, the business has also acquired Trustcorp Jersey; L-S&S, a Swiss boutique private wealth law firm and the funds business of Standard Bank Dubai.

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