LDC backs MBO of Isle of Man fiduciary services company Equiom

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UK mid-market firm LDC has backed the management buyout of Equiom, a leading provider of fiduciary and administration services on the Isle of Man.

Equiom provides fiduciary, administration and management services across asset classes to a customer base that incorporates large corporates and high net worth individuals. The firm also operates niche business lines including yachting, aviation and e-gaming.

Equiom was originally incorporated over 30 years becoming the fiduciary business of Ernst & Young in 1990, before being acquired by Anglo Irish Bank in 2002. In 2006, the company was subject to a management buy-out backed by Isis Equity Partners.

In recent years the business has completed a number of bolt-on acquisitions including Intertrust’s Isle of Man Yachting and Aviation business in January 2011, Jersey-based Andium Trust in October 2012 and City Trust, an Isle of Man independent corporate and trust service provider, in April 2013.

The transaction will provide the capital required to support the continuing growth of Equiom and facilitate the potential acquisition of complementary businesses operating in what is a highly fragmented offshore market for trust and fiduciary services, the firm said.

The deal with Equiom represents LDC’s 14th new investment of 2013, having invested over £200m of new funding alongside a further £28m of capital to support portfolio business acquisitions. Most recently the firm sold its controlling stake in aircraft cabin interior designer and engineer AIM Aviation to TowerBrook Capital.

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