INDOS Financial, the industry leading specialist in the provision of Depositary, ESG and Anti-Money Laundering (AML) oversight services has announced its forthcoming acquisition by JTC plc, the global provider of fund, corporate and private client services. JTC is a FTSE 250 listed company (www.jtcgroup.com).
All INDOS’s 52 directors and staff in its London, Fareham (Hants), and Enniscorthy (Ireland) offices will join the Institutional Client Services Division of JTC, and will become shared owners in the business. The transaction is subject to FCA regulatory approval and is expected to complete by the end of March.
Bill Prew, CEO, INDOS Financial said: “This transaction comes at a perfect time for INDOS and will enable us to continue to invest in and develop our range of services and the markets in which we operate for the benefit of our clients. With JTC, we have found a partner that shares our passion to deliver market leading fund oversight services that enhance fund governance, add value and consider and protect the interests of fund investors.
“Having grown organically since 2012, we understand what it takes to create value through building long-term client relationships based on service quality and expertise,” Bill Prew continued. “We share much of our cultural DNA with JTC and our common focus on clients, innovation and technology mean that we are excited by our future as part of the Group.
“Our success to date would not have been possible without the support and contribution of our outstanding team and I am therefore delighted that all members of the team will become shared owners of JTC.”
Nigel Le Quesne, CEO, JTC, said: “INDOS is a business of real quality which operates in a strategically important part of the fund services market. Having collaborated with Bill and the team several times, it is clear their deep expertise, commitment to service excellence and proven ability to innovate and grow makes INDOS a great addition to the JTC platform.
“The transaction also adds further scale in Ireland, a priority market for the Group, and the UK where our London team has more than doubled in size over the last 18 months due to client demand. We offer a warm welcome to our new colleagues and are excited to bring the benefits of the acquisition to existing JTC clients and to providing INDOS clients with an even richer suite of global services and the full backing of the JTC Group.”
INDOS Financial was advised by Key Capital in relation to corporate finance matters and Tughans in relation to legal matters.
About INDOS Financial
Founded in 2012, INDOS has grown to become recognized as a provider of industry-leading solutions within the fund oversight and depositary service space. As of end-2020, client assets under depositary oversight had grown past $35 billion and a further $11bn which form part of INDOS AML (Anti-Money Laundering) officer services. INDOS also provides a range of Environmental, Social, Governance (ESG) services for asset managers and their funds. (www.indosgroup.com)