Jersey’s LGL Group (‘LGL’) has announced that it has entered into an agreement to acquire Associated Consultants Limited (‘ACL’).
Founded in 1993 by Virrsing Ramdeny, ACL is a leading Mauritius based provider of corporate administration services to corporates and alternative asset managers.
Mauritius is one of the leading international financial centres for foreign investment into Africa and India. This acquisition provides LGL with a platform from which to expand the Group’s exposure to these emerging markets and to clients looking for support with their emerging markets structuring requirements.
John Pirouet, Chief Executive Officer of the LGL Group, commented:
“This acquisition will add further quality and scale to our existing business whilst also deepening our jurisdictional service offering to Mauritius. ACL is led by a highly experienced and respected team that has established a platform with a focus on providing its clients with the highest quality services. On behalf of LGL, I’m delighted to welcome the entire ACL team to the Group and look forward to working together in the future.”
Virrsing Ramdeny, Founder of ACL commented:
“As we met with the management team of LGL, it became apparent that our firms share a similar cultural ethos of looking after the staff that work within the business whilst providing exceptional client service. We are excited to be joining forces with a Group that is focused on client service as its priority. This acquisition is strategic as it will allow ACL to provide European solutions to our clients and give us a greater ability to scale with our clients as they grow and expand their businesses.”
Lineage Invest and BLC Robert acted as financial and legal advisers to the seller.