Thu, 19/06/2014 - 14:05
The management buy-out by the partners of Ogier Fiduciary Services from the Ogier Group has been completed.
With immediate effect Ogier Fiduciary Services and Ogier are two independent businesses.
The management buy-out of Ogier Fiduciary Services is backed by Electra Partners, which invested GBP82 million of equity on behalf of Electra Private Equity, alongside a significant investment by the Ogier Fiduciary Services' management team.
Debt facilities for the transaction were provided by a group of lenders comprising HSBC, Lloyds Banking Group, RBS, Babson Capital Europe and Alberta Investment Management.
Ogier Fiduciary Services continues to be led by Paul Willing as chief executive officer, supported by the existing executive team. There is also no change to the current client service and relationship teams.
Willing says: “The significant investment made available to us as a result of Electra Partners' backing will help us achieve our growth plans. We will invest in our key systems and infrastructure to underpin our high levels of client service and will take advantage of market opportunities as they arise.”
Nick Kershaw continues to lead Ogier Legal as global managing partner.
Kershaw says: "The Ogier partners felt very strongly that the continuity provided by a management buy-out would be the best possible solution for Ogier Fiduciary Services and I am confident that Paul and his team will continue their excellent track record of growth with Electra Partners' backing and support.”
Ogier Fiduciary Services and Ogier Legal will continue to share premises and facilities and all contact details remain the same.
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