Financial services group SMP announced a deal to acquire Helm Trust Company Limited, a trust and corporate services provider based in Jersey. The transaction is subject to regulatory approval.
Helm has been offering independent trust and company administration services for more than 25 years.
Lewis Buckley, director of Helm, said the “exciting deal” gives his firm the opportunity to internationalise while at the same time offering continuity to staff and clients.
“SMP is a very well-respected business and from our very first conversations it has been clear they share our ambitions, approaches, and principles, so we are confident it is the right fit for Helm and the people who rely on us,” he said. “We look forward to regulatory approval of the deal in the very near future.”
David Hudson, Group CEO of SMP, said when his group announced its management buyout, the intention was to build growth momentum quickly. “This deal represents the first step in delivering on that promise,” he said. “It is an excellent fit for several reasons; Jersey is a key strategic jurisdiction in which we intend to invest heavily, Helm has developed strong networks in overseas markets we currently have limited access to, and it has very similar cultural and infrastructure expectations to the rest of our business. We’re extremely excited to start working with our new colleagues, every one of whom will be welcomed into our team with open arms,” Hudson added.
The deal was undertaken with the support of Palatine Private Equity LLP, the UK mid-market private equity house that guided SMP through its management buyout earlier this year, with additional debt funding from Apera Asset Management.