JTC, a provider of fund, corporate and private wealth services to institutional and private clients, has secured GBP15 million in senior debt facilities from Santander Corporate & Commercial to support strategic acquisitions and the expansion of its geographic spread, client base and service offering.
Founded in 1987, JTC has around USD100 billion in assets under administration and 650 skilled staff working across 18 jurisdictions. Its client base includes alternative asset managers, family offices, and high net worth individuals. The firm was listed on the London Stock Exchange in March 2018 following a five-year minority ownership by Close Brothers Private Equity. For the half-year period to 30 June this year, the firm announced revenue growth of 25 per cent due to organic growth (7 per cent) and acquisitions (18 per cent), with EBITDA margins in excess of 29 per cent.
JTC has successfully completed two recent acquisitions, both supported in part by the funding from Santander. This included the acquisition of Amsterdam-based Van Doorn, a specialist provider of corporate and related fiduciary services and Minerva, a Jersey based provider of private client, corporate, fund and treasury services.
Martin Fotheringham (pictured), Chief Financial Officer, JTC PLC, says: “Santander are a welcome addition to our banking group and we have been impressed by the professional and efficient approach of the team. As JTC continues to pursue carefully selected acquisitions as part of a wider growth strategy, this increase in our revolving credit facility will allow us to take advantage of new opportunities as they arise.”
Saul Proctor, Director, Structured Finance, Santander Corporate & Commercial, says: “We are delighted to support JTC as the firm looks to continue what has been a highly successful track record of organic and acquisition led growth. The increased facilities arranged have supported two recent transactions and provide headroom for future opportunities. This transaction demonstrates Santander’s commitment to supporting businesses in the Crown Dependencies, via a collaborative approach between Structured Finance and our colleagues in Jersey.”