A deal securing the purchase of Temmes Management Services follows the firm’s acquisition of Guernsey’s Mercator Trust in January, and is the first it has made in the corporate services sector.
First Names said the transaction supported its strategy to expand corporate services into France, Luxembourg, The Netherlands, and the US.
It adds to its existing corporate presence in Switzerland and Ireland.
Temmes Management Services is a privately owned boutique firm focused on the implementation and operation of sophisticated, multi-jurisdictional corporate tax structures. Its client base includes a number of Fortune 500 companies.
As reported, First Names acquisition in January of Mercator for an undisclosed sum made it one of the largest operators in the offshore corporate services sector. At the time of the deal, First Names said it would incorporate Mercator’s trust and services operation into its own.
The firm also acquired a series of companies including Basel Group and Citadel last year.
Morgan Jubb, chief executive at First Names, said: “We are focusing on expanding and strengthening our global corporate services offering as part of our overall strategy and Temmes is the ideal acquisition to drive this.
First Names has also appointed a new group managing director, corporate and institutional services as part of its expansion.
Armin Kirchner joins from TMF Group where he is credited with contributing to its global expansion.
He will focus on growing First Names international corporate and institutional service offering.
First Names are an independent trust, fund and corporate services provider. They employ over 500 people and operate in 11 countries across the world.
