Hawkish Hawksford On Growth Path

Hawksford, an independent trust company backed by UK mid-market private equity firm Dunedin, reports that it continues its expansion with the acquisition of Trustcorp Jersey Limited (Trustcorp). The acquisition of the Jersey-based trust and corporate services provider makes Hawksford the largest independent trust company in Jersey.

We are told that this is the 11th acquisition made by a Dunedin-backed business in the last 12 months and that it is a prime example of Dunedin’s buy-and-build strategy of backing businesses with international growth opportunities.

The acquisition forms a significant part of the company’s growth strategy and follows recent expansion into the Middle East and Switzerland. Hawksford opened its Dubai office in June 2011 and acquired L-S&S GmbH, a Zurich boutique private wealth law firm, in August 2011. The acquisition of Trustcorp will boost Hawksford’s capacity and increase headcount by 30, to over 150 staff.

The official bulletin trumpetting the deal says that since its management buyout in October 2008, Hawksford has gone from strength to strength. It was crowned Trust Company of the Year at the 2011 Citywealth Magic Circle Awards and has been recognised as a Top 25 Trust Company by Private Client Practitioner for the second year running. Last year Hawksford was awarded the title of Independent Trust Company Team of the Year for 2010/2011 at the STEP Private Client Awards.

Dunedin’s Shaun Middleton and Oli Bevan worked with the Hawksford team on the acquisitions.