LDC backs Management Buy-Out of Equiom Limited

Posted: 16/09/2013

LDC has invested to support the management buyout of Equiom Limited, a leading provider of fiduciary and administration services.

Headquartered in the Isle of Man, Equiom is a global trust and corporate service specialist. The business provides a range of fiduciary, administration and management services across a variety of asset classes to a diverse customer base that incorporates large corporates as well as high net worth individuals.

In addition to its core trustee and company services, which account for 70 per cent of its business, Equiom operates niche business lines including Yachting, Aviation & e-Gaming.

Equiom was originally incorporated over 30 years becoming the fiduciary business of Ernst & Young in 1990, before being acquired by Anglo Irish Bank in 2002. In 2006, the company was subject to a management buy-out, led by existing Group Managing Director Sheila Dean, in a transaction backed by Isis Equity Partners. Equiom has experienced significant growth in recent years as a result of its high quality service offering to customers, alongside considerable investment in its operational and sales drive.

As part of its growth strategy, the business has also completed a number of successful acquisitions including Intertrust's Isle of Man Yachting and Aviation business in January 2011, Jersey-based Andium Trust in October 2012 and City Trust, an Isle of Man independent corporate and trust service provider, in April 2013.

Equiom currently employs over 100 people across three offices in the Isle of Man, Jersey and Malta.

The transaction will provide the capital required to support the continuing growth of Equiom and facilitate the potential acquisition of complementary businesses operating in what is a highly fragmented offshore market for trust and fiduciary services.

LDC has backed Equiom's existing management team led by Group Managing Director Sheila Dean. She commented:

“Equiom offers a market leading proposition and has been successful in enjoying a period of steady growth. Our strategy for organic and acquisitive growth will continue as we enter new markets, offering our loyal intermediaries and clients even more diverse jurisdictional solutions.

“LDC's investment brings additional strategic input and financial backing to our business and reflects the confidence that both parties have in Equiom's growth potential. We anticipate that LDC's support will allow us to further strengthen our position within the market, invest for growth organically and through acquisitions as well as continuing to provide high quality services to existing and new customers.”

The deal with Equiom forms part of LDC's continuing strategy to invest in leading mid-market businesses, backing high calibre management teams. It represents LDC's 14th new investment of 2013, having invested over £200million of new funding, together with a further £28million of capital to support portfolio business acquisitions. Last year, LDC invested over £300million across 18 investments.

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