Isle of Man-headquartered trust and fiduciary services business Boston Multi Family Office has secured a “significant investment” from private equity firm Horizon Capital.
Horizon Capital will take a majority stake in the company, supporting the management team as they continue to grow the business both organically and via acquisitions.
The PE firm will join fellow investment company Rockpool as a private equity financing partner of Boston MFO, which also has an office in Malta.
This comes several years after Rockpool financed the management buyout of Boston MFO by Katherine Ellis, chief executive, and Alex McNee, chief operating officer from its family office ownership in October 2019.
The transaction remains subject to regulatory approval and the financial terms of the deal were not disclosed.
Further acquisitions
Ellis said: “We are thrilled to be partnering with Horizon for this exciting next phase of Boston. The last three years since the management buyout has been a great period of growth for Boston and we couldn’t have achieved such success without the outstanding team effort from all our staff in the Isle of Man and Malta.
“From our initial meetings with the team at Horizon, it was clear we shared very similar views on how to grow Boston both organically and through strategic acquisitions, and with keeping our staff and our clients at the top of the agenda.”
Adam Lewis, partner at Horizon Capital, added: “We are delighted to be investing in Boston MFO as they continue to grow the business. We share a like-minded approach to growing high quality services businesses in fragmented markets, and we are looking forward to working with Katherine, Alex and all of the team to support continued organic growth and further acquisitions.”
In August 2020, Boston Multi Family Office acquired international fiduciary services business IQE.
