Palatine Private Equity-owned SMP Group, a professional and financial services group headquartered in the Isle of Man has announced a deal to acquire Helm Trust Company Limited, a trust and corporate services provider based in Jersey. The transaction is subject to regulatory approval.
The transaction comes less than a month after Palatine completed a management buyout of SMP Group, which saw David Hudson, the former group business development director, move into the role of group CEO. Hudson said: “When we announced our MBO, we spoke of quickly building momentum in the growth of the group. This deal represents the first step in delivering on that promise.”
Palatine Private Equity partner Andy Lees said: “Helm represents a very significant acquisition for SMP. The Group now has real scale in the Isle of Man, Jersey and the Caribbean and we are aiming to add to this with further acquisitions. With additional international reach, SMP can offer its clients a truly global service.”
The deal has been undertaken with funding from Apera Asset Management, who supported SMP through its management buy-out earlier this year.