A pan-island Carey Olsen team has advised First Names Group on its acquisition of Mercator, an independently-owned Guernsey private client, corporate, fund and trust management services business.
First Names Group is a global, independent provider of trust, corporate and fund administration services. Since its 2012 management buyout, First Names Group has made a range of acquisitions including boutique funds services business Moore Management and international trust and corporate services providers Basel Trust Group and Citadel.
Subject to regulatory approval, the Mercator acquisition will further expand the First Names Group's presence in the Channel Islands with Mercator's trust and corporate services business integrated into the First Names Group and its funds business incorporated within Moore Management. It is anticipated that Mercator will be operating under the new brands by the middle of 2014. Upon completion of the deal, the First Names Group will have over 520 employees across nine strategic locations.
The Carey Olsen pan-island team was led by partners Tom Carey in Guernsey and Mike Jeffrey in Jersey and included of counsel Huw Thomas and senior associate James Willmott in Jersey and senior associate Alison MacKrill and associates John Scanlan and Alex Wilson in Guernsey. The London office of King Wood Mallesons SJ Berwin, led by Martin Bowen, was lead English counsel.
Mr Carey said: "This has been a particularly interesting transaction in which to be involved as we were able to draw on our experience of regulated business M&A transactions across both Jersey and Guernsey to deliver an integrated service to First Names Group."
Morgan Jubb, Chief Executive Officer, First Names Group, commented: "It was very important to me in this transaction that our M&A legal service providers had a deep knowledge of our sector together with a seamless multi-jurisdiction execution capability to ensure a smooth transaction. Carey Olsen delivered this on both fronts."
Carey Olsen had previously advised the owners of Basel Group when it was acquired by First Names Group.