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Dunedin backs bolt-on acquisition for Hawksford

11 Feb 2013

Private equity group Dunedin has backed portfolio company Hawksford’s acquisition of Key Trust Company.

This is Hawksford’s fourth acquisition since it was backed by Dunedin in October 2008.

Hawksford – which has revenues of over £20m – is already the largest independent trust company in the Channel Islands. It was established in 2008 following the buyout the management buyout of Rathbone Trust Company Jersey, which was backed by Dunedin.

Hawksford sees the deal as an opportunity to gain access to a wider pool of experts.

“We have been working with the management team at Hawksford to identify attractive acquisition opportunities as part of a proactive buy and build strategy,” said Dunedin partner David Williams, who sits on Hawksford’s board.

“The acquisition of Key Trust will boost the company’s capacity with its headcount increasing from 153 to 166, therefore further enhancing its market leading-position.”

Dunedin has recently exited its position in conference and training venues business, etc.venues, realising more than three times what it invested in the company.

The firm targets buyouts of between £20m and £75m, usually investing more than £20m.

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