Endiang, an investment holding vehicle, has wrapped up the takeover of ARC Group (ARC), the Channel Islands-based investment research and consulting business.
In accordance with the terms of the transaction that was agreed in principle in January, Endiang will offer ARC development capital to support its expansion plans, as reported by businesslife.co.
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Apart from this, the entire senior management has agreed to multi-year "lock-in" arrangements.
While boosting ARC’s ability to assist wealthy individuals, charities and family offices to meet their financial goals through impartial, tailored investment structuring advice, the deal will also offer ARC with the necessary resources to take the existing range of services to the next level.
ARC is also planning to expand its manager research and portfolio performance reporting services to the fiduciary sector and independent financial advisers (IFAs), using its web-based SUGGESTUS research portal, according to the publication.
Additionally, ARC will launch new offices in London, Switzerland, the Cayman Islands and Canada, over the next 12-18 months.
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By GlobalDataARC group managing director and founder Graham Harrison was quoted by businesslife.co as saying, "The transaction will enable us to take our ambitious expansion plans forward with the goal of becoming a leading global private client investment consulting practice, with sustainable operations in Europe, North America and Asia, by 2020."
"By aligning our interests with those of Endiang, this objective becomes an achievable proposition and one that we are very excited about," Harrison told the publication.
Endiang was advised by Miller Thomson in Toronto and Mourant Ozannes in Guernsey and ARC was advised by AO Hall.
