Palatine-backed SMP acquires RBC Corporate Services Hong Kong

Palatine supported the transaction, which has additional debt funding from Apera Asset Management.

SMP previously acquired RBC's Bahamas and Cayman Islands corporate services in 2016 and 2017 respectively. The Caribbean and Hong Kong businesses have continued to work closely together since these acquisitions.

This is the third acquisition made by the company since it was acquired by Palatine in 2019, following the acquisitions of Middleton Katz and Helm Trust.

Palatine acquired SMP in February 2019, drawing equity from Palatine III.

Company
Based in Hong Kong, the division employs 80 people and generates around $13m in revenues, according to Dun & Bradstreet. It offers corporate transaction services such as international payment processing. RBC I&TS was founded in 1987.

People
Palatine Private Equity – Andy Lees (partner).

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• Topics
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• Palatine Private Equity