Ocorian is to acquire MAS International (MAS), an independent fund administration and corporate services provider. The business operates in Luxembourg and Mauritius in addition to representation in the US.
Expected to close towards the end of 2017, the transaction, which is subject to regulatory approvals, will realise the next stage of the progressive trajectory for Ocorian, following the management buyout and successive rebranding of Bedell Trust in 2016. The acquisition expands Ocorian’s international presence and service capabilities, providing further depth for their existing jurisdictions.
All staff from MAS’s administration and corporate services business will join the combined operation to support and grow the client relationships that are at the core of this acquisition. The two French entities are excluded from this transaction and will continue to operate independently. Terms of the agreement are not being disclosed.
Commenting on the acquisition Nick Cawley (pictured), CEO of Ocorian, says: “This transaction reflects the sustained growth and diversification of Ocorian’s newly defined business. It will further strengthen our position as a leading global provider of fund administration and corporate services complementing our real estate and private client services.
“The acquisition is consistent with Ocorian’s ongoing evolution and commitment to continued international growth in leading jurisdictions. By bringing the two businesses together Ocorian’s fund administration and corporate services offering will now be strengthened to help build our high quality and sustainable business.”
Stewart Kam-Cheong, Partner at MAS International, adds: “Our ambition for this transaction was to find a partner that would leverage our existing platform and accelerate the development of our fund administration and corporate services businesses, whilst broadening the scope for both ourselves and our clients. Becoming part of a larger group alongside Ocorian will facilitate growth opportunities and make the most out of the MAS expertise.”
Olivier Dorier, Partner at MAS International, says: “We are excited about this opportunity to join forces with Ocorian. The powerful combination built on highly regarded reputations provides tremendous opportunities for our clients and staff. The MAS team will continue to work closely with Ocorian to ensure a seamless integration. Both the combined MAS and Ocorian teams are committed to providing the same high level of quality services our clients have come to expect.”