The SMP Group of Companies, headquartered in the Isle of Man, provides corporate and trust structuring, accounting and tax, gaming and fund services to a global client base of both corporate clients and high net worth individuals.
The acquisition, which is subject to regulatory approval, was undertaken with the support of Palatine Private Equity LLP, the mid-market private equity house that Appleby assisted through its management buyout of SMP earlier this year, with additional debt funding from Apera Asset Management.
The team at Appleby was led by Jersey Corporate Partner Andrew Weaver with support from Senior Associate Chris Smedley and Associate Lebogang Maimane. The Corporate team were further assisted by Group Partner Richard Sheldon and Associate Paul Worsnop in respect of the employment elements of the transaction, Senior Associate Amy Benest for dispute resolution assistance and Counsel Jonathan Anderson in relation to the real estate aspects of the matter
Commenting on the deal Andrew Weaver said “Appleby is very pleased to have the opportunity to work with the SMP Group of Companies on this exciting acquisition and to assist them in their plans for growth. Our multi-disciplinary team of experts was perfectly placed to add value to the transaction and get the deal over the line”.
David Hudson, Group CEO of SMP Group also commented: ‘When we announced our management buyout, we spoke of quickly building momentum in the growth of the group. This deal represents the first step in delivering on that promise.
Appleby’s existing knowledge of our business and expertise made them an ideal partner in assisting us with this acquisition”.
Appleby worked closely with Gateley PLC who provided English legal assistance to SMP in relation to the English law elements of the acquisition.