Electra backs £180m Ogier MBO

The deal saw Electra investing £83m in equity as part of the £180m transaction. Following the MBO, Ogier will use the fresh capital to carry out its growth plans and take advantage of market opportunities.

Ogier will split into two divisions, with the fund administration business going to Electra and its legal offering remaining independent, although the two entities plan to retain a close relationship as they will continue to share premises and facilities.

The deal fits into Electra's investment strategy of targeting companies that deal with increasing regulation and internationalisation in the corporate and investment management markets.

As regulatory demands fuel the need for third-party fund administrators, private equity has targeted the space, with the most recent deal being Silverfleet Capital's acquisition of Ipes from RJD Partners.

Debt
The deal was financed by a group of lenders including HSBC, Lloyds Banking Group, RBS, Babson Capital Europe and Alberta Investment Management.

Company
Ogier Fiduciary Services provides international trust, fund and company administration services to multinational corporations, high-net-worth individuals, family offices and investment funds. It currently counts 3,000 clients. 

The business is structured into four service lines: corporate services, fund services, private wealth and capital services.

The company was established in 1998 and employs 450 people across 10 jurisdictions.

People
Nick Kershaw is CEO of Ogier Group and Paul Willing is CEO of Ogier Fiduciary Services. Alex Fortescue is chief investment partner at Electra.

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• Topics
• Buyouts
• UK / Ireland
• Financials
• Electra Partners LLP
• Silverfleet Capital