SMP Group, a global professional and financial services group headquartered in the Isle of Man has today announced a deal to acquire Helm Trust Company Limited, a highly regarded trust and corporate services provider based in Jersey. The transaction is subject to regulatory approval.
Helm has been delivering independent trust and company administration services for over 25 years and has developed into one of the most recognised independent service providers in Jersey.
The transaction comes under a month after Palatine completed a management buyout of SMP Group, which saw David Hudson, the former group business development direct, move into the role of group CEO.
Andy Lees, partner at Palatine Private Equity, 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.”
Lewis Buckley, Director of Helm commented: “This is an extremely exciting deal because it brings us the opportunity to internationalise our ambitions whilst offering continuity to staff and clients alike. SMP is a very well-respected business and from our very first conversations it has been clear they share our ambitions, approaches, and principles, so we are confident it is the right fit for Helm and the people who rely on us.”
The deal has been undertaken with funding from Apera Asset Management, who supported SMP through its management buy-out earlier this year.