The management team at Legis has successfully completed a buyout of the business. The share capital of the funds, corporate services and trust business has been acquired by a newly-formed holding company, Legis Group Holdings Limited, with funding from HSBC and backed by a significant investment from Bailiwick Investments Limited.
Chief Executive Stuart Platt-Ransom says: “We have assembled an experienced and dynamic management team and, under their ownership, Legis is now positioned to become a best of breed independent.”
Legis has almost doubled its staff numbers over the last three years with some staff working for the company for up to ten and, in two cases, 20 years. More than 60 employees will continue to work for the company from its recently developed offices in New Street.
Platt-Ransom said that Bailiwick Investments’ involvement represents a genuine long term investment to deliver capital appreciation and an income stream.
Peter Harwood and Rupert Evans, both former partners of Ozannes and former shareholders in the business, will continue to hold directorships. Advocate Harwood will be chairman.
John Henwood, a director of Bailiwick Investments Limited says: “The board of the company is pleased to announce an investment in Legis Group after more than a year of negotiation. We look forward to working closely with the highly experienced new management team and to build on the Legis brand, market share and revenue.”
Bill Baker, senior corporate banking manager of HSBC Bank plc says: “We are delighted to have been able to assist the management team with the acquisition of the Legis Group and are looking forward to working with them in the future.”