Moore Group Limited / IFG Trust and Corporate Group
Cavendish Corporate Finance LLP is pleased to announce that it has successfully advised on the sale of Moore Group Limited, a Jersey based fund administration business, to IFG Trust and Corporate Group. The transaction remains subject to regulatory approval from the Jersey Financial Services Commission.
Moore Group was established by Ian Moore in 1996 and enjoys a strong reputation and recognition within its industry. Moore provides fund management, fund administration and corporate services for institutional and corporate clients who need expert, individual attention and administers over US$17 billion of investments, including over US$4.8 billion of private equity funds.
IFG Trust and Corporate Group was itself acquired by its management team, backed by AnaCap Financial Partners, in July 2012, and this represents the first acquisition made under its new ownership. IFG has ambitious targets for growth and Ian Moore will continue to work as Executive Chairman of the fund administration business of the combined entity.
Ian Moore commented, “The Cavendish Team have been instrumental in delivering me a buyer which is a perfect fit for my business. This is a wonderful milestone in our history and I am delighted.”
Michael Jewell, Partner of Cavendish commented, “The deal is a great fit for both parties and illustrates the strong consolidation trend that is sweeping international fund administration. Bigger players continue to hunt for more specialist operators, which have particular skills sets and dedicated client bases, to bolster their revenues and expand their geographic and service offerings as well as benefit from economies of scale in areas such as technology infrastructure and compliance.
I am delighted that we have secured a new loan facility an that our three existing funders continue to support the business during this challenging period, demonstrating their confidence in Morses Club and our growth and digital diversification strategy.
The Cavendish Team have been instrumental in delivering me a buyer which is a perfect fit for my business. This is a wonderful milestone in our history and I am delighted.
Cavendish were without doubt the best choice of advisors for JBW and me personally. Together with their Japanese partners, they brought huge value to the process.
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