International trust and fiduciary services business Boston Multi Family Office (Boston MFO) has acquired Douglas-based Fedelta Trust for an undisclosed sum.
The deal comes several weeks after London-based specialist investor Horizon Capital was given approval to join private equity firm Rockpool as a financing partner of Boston MFO.
Fedelta Trust offers a range of financial and wealth services to clients based in the Isle of Man and internationally.
As part of the acquisition, the existing Fedelta team, led by Steven Quirk and David Brew, will move to Boston’s offices. The acquisition is subject to regulatory approval.
Katherine Ellis, chief executive of Boston MFO, said: “Boston is always looking for opportunities that will expand and enhance our services to clients and provide a good strategic fit for further growth.
“Fedelta has an excellent record in delivering quality financial services, built on the same values and culture that we cherish at Boston. We are delighted to welcome the Fedelta team to our premises and look forward to working with them.”
Fedelta Trust director Quirk added: “Fedelta has always endeavoured to offer a customer-focused approach with the highest standards of personal service, integrity and expertise. During our discussions with Katherine and Alex, it became apparent at an early stage that they, and the wider team at Boston, have a like-minded approach. This was important to us and will provide our clients and staff with a strong foundation for the future.
“Additionally, our combined resources will strengthen the expertise that we can offer to our clients and the extensive solutions that Boston can provide will further enhance our services and give greater opportunities for our staff to develop and fulfil their potential.”
The move follows Isle of Man-headquartered Boston’s previous acquisition of international fiduciary services business IQE in 2020 and is the second major acquisition since Ellis and chief operating officer Alex McNee led a management buyout of Boston MFO in October 2019.
