Elian acquired by Intertrust in £435 million deal

Monday 06 June 2016

Elian has been bought by Intertrust NV in a £435 million deal announced this morning.

Intertrust, a trust and corporate services provider with offices in 26 jurisdictions around the world, already has a presence in Guernsey.

A statement about the deal said that post acquisition, Elian will comprise around 25% of the combined group and "will benefit from the long term stability that being part of a listed entity provides, as well as increased geographic scale and diversification in line with its long term strategic goals". 

Elian CEO Paul Willing described the deal as “very exciting” for the group’s 600 staff.

He said: “Our combined service offering and network of offices globally will broaden and strengthen our capabilities to support our clients in all key international business locations.

“We know Intertrust shares our belief that our people are our most valuable asset.

“The opportunities for career development, as well as the leadership and international mobility programs will make our tie-up with Intertrust especially interesting for our employees.

“We are truly creating the global leader in our industry with this transaction - very exciting.”

Elian has 600 staff across 15 international offices including Amsterdam, Bahrain, the British Virgin Islands, the Cayman Islands, Dublin, Frankfurt, Guernsey, Hong Kong, Jersey, Lisbon, London, Luxembourg, Madrid, Milan and Tokyo. It was created in September 2014 after a management buyout of Ogier Fiduciary Services.

Intertrust has offices across Europe, the Americas, Asia and the Middle-East, and offers corporate services, fund services, capital market services, and private client services to clients.

A statement this morning from David de Buck, Intertrust’s CEO, said: "The acquisition of Elian presents a great opportunity for Intertrust to significantly expand its Capital Markets and Private Equity & Real Estate Fund Administration services. Consolidation in our industry continues, and the ability of global trust and corporate services providers to acquire high quality companies will determine their success going forward.

“Against this backdrop, I am especially pleased to announce the addition of Elian to the Intertrust family. Our similar cultures and the emphasis both our companies place on integrity and high-value service delivery will form a strong basis for successful integration.

“The inclusion of Elian's capabilities and geographic presence will consolidate Intertrust's position in Capital Markets and Private Equity & Real Estate Fund Administration, add scale to our operations in several important jurisdictions, and bring us the leadership position in Jersey.

“With Elian on board, we will be able to offer more to our clients and investors worldwide. I look forward to working with Elian's excellent team.”