Ocorian, a provider of administration, fiduciary and accounting services, has agreed to buy MAS International, a fund administration and corporate services provider operating in Luxembourg, Mauritius and the US, for an undisclosed sum.
All employees of the administration and corporate services business of MAS will join Ocorian as part of the deal. The transaction however, excludes the two French entities that will retain their independent status.
The deal is slated to be wrapped up in the end of 2017, subject to regulatory nod.
Ocorian CEO Nick Cawley said: “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.”
The latest deal follows the management buyout of Bedell Trust in September 2016 and its rebranding to Ocorian in November 2016.