Select a region
Consumer and technology investor Mayfair Equity Partners has announced that it will be taking a majority stake in one of the largest independent private wealth firms in Jersey.
With over £2 billion in assets already under management, Mayfair has announced it is partnering with Managing Director Iain Mason and his management team at VG with an aim of delivering growth and improving operational efficiencies at the company.
As part of the deal, Mayfair will acquire a majority stake in VG, investing alongside the current management team. Other details of the deal have not been disclosed and completion remains subject to conditions and regulatory approval.
VG has seen its revenue grow by 28% per annum between the 2022 financial year and the present day. The global trust and corporate service market is projected to reach $17.4bn by 2031.
VG's Managing Director, Iain Mason, described Mayfair as "the perfect partner".
“Its active partnership approach and the operational expertise of its Specialist team will enable us to implement our strategy quickly and with confidence," he said.
"This includes broadening VG’s jurisdictional footprint, the delivery of new products and services, and harnessing technology for the benefit of all our clients. I look forward to working closely with Mayfair to deliver the next stage of our ambitious plan.”
Neil Price, Managing Director at Mayfair Equity Partners, added: "We’ve been impressed by Iain and his team since our first meeting. They’ve built one of the most customer- centric businesses we’ve ever seen, demonstrating an absolute dedication to their clients that has led to exceptional growth over the past few years.
"We’re looking forward to partnering with VG on a plan that will build on their successful formula and include the rollout of new advanced technologies and strategic M&A.”
Pictured top: VG's MD Iain Mason, who described Mayfair Equity is the "perfect partner' for VG.
Comments
Comments on this story express the views of the commentator only, not Bailiwick Publishing. We are unable to guarantee the accuracy of any of those comments.