(PRESS RELEASE) LONDON, 19-Jul-2019 — /EuropaWire/ — Bridgepoint announces acquisition of Estera, its global provider of funds, corporate and trust services. Estera will be merged with Inflexion’s existing portfolio company Ocorian, following completion of the investment. Estera and Ocorian will form a global corporate service and fund administration leader of significant scale.
Together, Ocorian and Estera, will provide a complete range of services to clients with multi-jurisdictional needs. Ocorian clients will benefit from Estera’s established North American presence, while Estera clients will be able to leverage Ocorian’s strong links to the Middle East and Africa. The combined business will have over 1,250 professionals globally, serving over 8,000 clients across the corporate service, fund administration and private client sector in 18 key global jurisdictions, including Bermuda, Cayman, Guernsey, Ireland, Jersey, Luxembourg and Mauritius.
“This is a really exciting next step for our business and everyone who works for it. We are delighted that we will be combining with Ocorian, which with Inflexion’s support, will help us develop and grow the business even further. We look forward to implementing an ambitious joint growth plan,” commented Farah Ballands, Estera Chief Executive.
“This is a landmark transaction for Ocorian. Together both businesses will be able to offer an enhanced service to their clients wherever they are located. The whole team looks forward to working with the team at Estera to take the enlarged business forward,” said Stuart Layzell, Ocorian Chief Executive.
“Since carving out Ocorian from Bedell Cristin in September 2016, the business has successfully completed four acquisitions, significantly diversifying its client offering geographically. The combination of Ocorian and Estera is truly transformational, creating a global, market leading business of significant scale and we look forward to partnering with both teams to accelerate the growth of the joint business,” added Simon Turner, Managing Partner, Inflexion.
“Estera has a reputation for high quality, client-centric services, and the expertise to deal with the complex needs of its clients. Alongside a strong management team, we have helped the business build market leadership positions globally across its product portfolio and accelerated investment in its platform as well as in selective acquisitions. We wish the company and its team continued success under its new ownership,” commented William Paul, Partner and Head of Bridgepoint’s financial services team.
This investment was made by affiliated funds advised by Inflexion Private Equity Partners LLP.
The transaction is subject to regulatory approval.
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