Bridgepoint buys Appleby Fiduciary and Administration Business

Following the deal, which is thought to be worth around £240m, Bridgepoint will support the business in its expansion plan, which includes developing more products and services as well as potential acquisitions.

According to the GP, the fund services market is fragmented and is forecast to grow by 7% each year thanks to increases in private wealth, foreign direct investment and increasing regulation.

Bridgepoint invested via its €4bn Bridgepoint Europe V buyout fund. Debt for the deal was provided by Bank of Ireland, ING, Societe Generale and Unicredit.

Company
Jersey-headquartered Appleby provides trust and corporate services to global clients, including corporate administration, trust administration and fund services.

For its corporate administration offering, clients include large multinational corporations through to individual holding companies and special-purpose vehicles.

Trust administration services include setting up trust structures and providing day-to-day record keeping. Clients include high-net-worth individuals, corporations and financial institutions.

As part of its fund services offering, the company advises clients on the launch and incorporation of funds through fund accounting, valuations, secretarial services, and regulatory and compliance services.

People
Farah Ballands is CEO of Appleby.

Advisers
Equity – Wyvern Partners (Corporate finance); Stikeman Elliott (Commercial due diligence); KPMG (Financial due diligence); Intuitus (IT due diligence); Marsh (Insurance due diligence); Travers Smith, Paul Dolman, Ian Shawyer, Genevieve Marten, Ian Keefe, Leah Carson, Joanna Roberts, Sarah Butler, Richard Brown, Matthey Ayre, Barry Newman, Phil Bartram, Simon Skinner (Legal).
Company – PwC (Commercial & financial due diligence); Macfarlanes (Legal); Kinetic (Compliance due diligence).
Management – Liberty Corporate Finance (Corporate finance); Dickson Minto (Legal); PwC (Tax).

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• Buyouts
• UK / Ireland
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• Bridgepoint