Isle of Man-headquartered Boston Multi Family Office has completed its acquisition of Aqua Group, a family office and fiduciary business based in Jersey, Malta and the UK.
The deal will enable Boston to expand its operations to the Channel Islands and UK, as well as bolstering its presence in Malta where it has had an office since 2012.
It marks the latest in a series of strategic acquisitions of like-minded businesses by Boston, bringing additional expertise and experience to the team along with a broader client base and access to a wider market.
Aqua Group was established in 2012 with the aim of helping families and their businesses achieve their financial expectations through the application of technical and strategic approaches to their objectives.
Boston CEO Katherine Ellis said the deal was another exciting opportunity both for the business and its clients. “It was clear from the beginning of our negotiations that Aqua Group had a similar outlook to our own. We have both shared a focus on building excellent long-term relationships with our clients, working with families and businesses that often have complex, multi-generational and multi-jurisdictional requirements.
“In addition to broadening our scope of operations, the acquisition will allow us to benefit from the expertise and experience of the well-established Aqua team who will bring additional knowledge and connections to the business. We have already enjoyed getting to know them over the past few months as we have worked through the acquisition process together and we look forward to joining forces to provide our newly combined expanded clientele with the superb level of service they have come to rely on.
“I would like to thank our investors at Horizon Capital for their continued support as well as those who assisted us with the transaction including Mazars for financial due diligence and corporate advisory services, CMS and Walkers for legal services and KPMG for regulatory due diligence.”
Aqua Group Founder Jo Luce added: “It has been a pleasure to work with Katherine and her team at Boston to bring these two businesses together. With our shared values and our shared dedication to excellence in client service delivery, it is obvious there will be many benefits from this deal, not only for our clients and their advisors who will have access to greater commercial expertise and cross-border experience, but also to our staff who will have increased opportunities for professional development and exposure to different markets.
“I have been impressed by the professionalism and friendliness of everyone at Boston and I am confident that this deal further strengthens Boston’s place in the market, facilitating future growth and aligning to the strategic direction set out for the business.”
Boston Multi Family Office was founded in 2002 as a single family office and was held privately until 2019. The company provides boutique administration services from offices in the Isle of Man, Malta, Jersey and the UK.
The main picture shows (left to right), Alex McNee, Sarah Mullins and Jo Luce.
