UK - Advent acquires Lloyds TSB Registrars

Advent International has acquired the share registration business of Lloyds TSB plc, Lloyds TSB Registrars, for £550m. Advent is backing the existing management team led by Managing Director David Winton. The business is headquartered in Worthing and employs approximately 1,700 staff. Established in 1956, it manages and maintains shareholder registers on behalf of its 700 corporate clients. In 2006 the subsidiary recorded after-tax profit of £32m and had gross assets of around £85m.