Doughty Hanson acquires Equity Trust for €350m

Equity Trust's management also took a stake in the business. Doughty Hanson intends to merge the company with its portfolio business TMF group following closing of the transaction.

The sale values Equity Trust 24% higher than Candover Investments plc's valuation on 30 June 2010. It will generate estimated cash proceeds of €24.2m, including carried interest, to the listed investment trust.

Candover Partners acquired Equity Trust for €198m in 2003 and supported a number of strategic acquisitions, notably that of ABN Amro's Trust business in 2005. Under Candover's ownership, turnover increased from €60m to €140m.

Founded in 1986 by Insinger de Beaufort, Equity Trust focuses on the formation and ongoing administration of onshore and offshore trusts and companies. The firm's services comprise solutions to business investment, wealth creation and wealth preservation issues.

The unquote" team is currently researching this transaction. In-depth deal information for subscribers will follow shortly.

If you have any information regarding this transaction, please contact Grégoire Gille on +44 20 7484 9824 or gregoire.gille@incisivemedia.com

 

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