Merger will strengthen capability across 18 locations, including North America and Asia.
We are delighted to announce that Ocorian, with the continued support of Inflexion Private Equity, has entered into an agreement to merge with Estera - a leading independent provider of corporate, fiduciary, fund administration and trust services.
Subject to regulatory approval, the combined business will be one of the largest administrators globally and operate from 18 jurisdictions, including Bermuda, Cayman, Guernsey, Ireland, Jersey, Luxembourg and Mauritius. The businesses will have over 1,250 professionals, serving over 8,000 clients across the corporate service, fund administration and private client sector.
Together, Ocorian and Estera, will provide a complete range of services to clients with multi-jurisdictional needs. In particular, Ocorian clients will benefit from Estera's established North American presence (Bermuda, BVI and Cayman), while Estera clients will be able to leverage Ocorian's strong links to the Middle East and Africa.
Stuart Layzell, Ocorian Chief Executive, commented: "This is a landmark transaction for Ocorian. Together both businesses will be able to offer an enhanced service to their clients wherever they are located. The whole team look forward to working together with the team at Estera to take the enlarged business forward."
Jefferies (M&A), White & Case (Legal), PwC (Financial and Tax) and Deloitte (Debt advisory) acted as advisors to Ocorian in this transaction. Financial terms of the transaction have not been disclosed.
Read the full announcement.