Trustmoore, an international fund and corporate services provider, has entered into a strategic partnership with IK Partners, a European private equity firm, under which IK Partners will invest through IK Small Cap IV Fund and acquire a majority stake in the business, while Trustmoore’s active founders will reinvest significantly alongside the existing management team.
Financial terms of the transaction were not disclosed and completion is subject to regulatory approvals, the company said in a statement on Monday 19 January.
Founded in 2005, Trustmoore operates as a boutique platform across four business lines, providing fund services, corporate services, capital markets and private client services. It serves clients across 10 jurisdictions, with operations centred on Luxembourg and the Netherlands, and employs more than 275 professionals across its offices. The group provides services to more than 850 client groups, Trustmoore said.
Private equity backing for the next phase
Trustmoore said the partnership was designed to support a long-term expansion strategy as client requirements evolve and regulatory demands increase across funds and corporate services.
Wouter Plantenga, chief executive, said the deal would allow Trustmoore to scale while maintaining its model. “IK’s investment will enable us to further grow our organisation and significantly expand our capabilities and capacity,” Plantenga said, adding that the group aimed to support clients through “growth, increasing regulatory complexity and cross-border activity” while maintaining “the personalised service and specialist expertise they expect from Trustmoore”.
Trustmoore said it intended to accelerate its development by building on organic momentum and executing targeted add-on acquisitions to enhance capabilities and broaden its service offering. The company also said it would continue investing in its people, processes and technology.
IK Partners said it would back an “accelerated buy-and-build strategy” and pointed to previous partnerships including Vistra Group in the Benelux, Advisense in the Nordics, Qconcepts in the Benelux, Dains in the UK, Valoria Capital in France, iM Global Partner in France and Yellow Hive in the Benelux.
Onne Tjerkstra, partner at IK Partners and adviser to IK Small Cap IV, said the firm was attracted by Trustmoore’s performance in a consolidating market and its ability to expand into new jurisdictions and service lines. He said IK Partners would work with Trustmoore’s management to pursue growth opportunities and operational improvements.
No change for clients
Trustmoore said it would continue operating under its existing brand, strategy and leadership, with day-to-day services and client teams unchanged. The partnership was intended to give the group greater capacity to support clients as they expand and their structures become more complex, it said.
