Rockpool Investments has backed the MBO of Boston Multi Family Office, one of the Isle of Man’s highest profile trust and fiduciary services businesses. Boston MFO is Rockpool’s third investment in 2019.
The MBO will see Katherine Ellis, former Group Director of Business Development, step into the Chief Executive Officer role on completion with Alex McNee remaining as Managing Director.
One of the Isle of Man’s most prestigious trust and fiduciary businesses, Boston Multi Family Office was founded in 2002 as a single family office and has been held in private ownership ever since.
Boston Multi Family Office will continue to be headquartered in the Isle of Man with the new ownership focused on organic growth and strategic acquisitions for broader jurisdictional reach.
Boston has grown into a commercial multi-family office providing boutique administration services from offices in the Isle of Man, Malta, and the Dubai International Financial Centre (DIFC). Boston has experienced strong organic growth and has completed three acquisitions in its history.
The deal was led by Rockpool’s Guy Ellis and Simon Collins.
Katherine Ellis said, “It is a privilege for Alex and me to take the reins of such a reputable business at a very exciting time in its history. The creation and preservation of family wealth remains our overriding mission and I am looking forward to working with the team to implement our strategy for future growth.”
Alex McNee added, “Boston Multi Family Office has responded to demand from intermediaries and other wealthy families to broaden its services over the past two decades and establish a multi-jurisdictional presence. The ability to offer services across both non-EU-offshore and EU-onshore jurisdictions provides an enormous amount of opportunity and gives us maximum flexibility for structuring assets globally. We are keen to explore further opportunities to increase our reach and continue to provide an excellent service for our clients, wherever they may be based.”
Guy Ellis, Investment Manager at Rockpool said, “Boston MFO represents an exciting opportunity for Rockpool investors to back a highly reputable trust and fiduciary services business with exciting growth prospects both organically and via bolt-on opportunities. We look forward to working with Katherine and Alex to expand the business and bring their market-leading client services to further jurisdictions around the world.”
Rockpool was advised by Taylor Wessing LLP, led by Jonny Bethell. Local counsel was provided by Keystone Law. Rockpool was also advised by Dow Schofield Watts for financial due diligence and Catalysis Advisory for management due diligence. Paul Joyce and Fred Dearden of Mazars Corporate Finance provided corporate finance advice to the management team. Legal advice to the management team was provided by Charles Russell Speechlys LLP.
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