Law firm Ogier Group has sold its fiduciary services division, Ogier Fiduciary Services, to private equity firm Electra Partners for £180 million.
According to Ogier, the deal, which is subject to regulatory approvals, will result in significant additional funding to ensure that Ogier Fiduciary Services is able to realise its ambitious growth plans, taking advantage of market opportunities as they arise.
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Electra Partners Electra Private Equity will invest £83 million of equity in the deal alongside a significant investment by Ogier Fiduciary Services’ management team.
Paul Willing will continue to lead Ogier Fiduciary Services as CEO, supported by the current executive team. There will also be no change to clients’ existing relationship management teams.
Ogier Fiduciary Services CEO Paul Willing said that the Ogier Group has enabled us to grow the business to the size, reach and scale that it enjoys today.
"However, we believe that the time is right to accelerate our growth through the additional investment and support that Electra will provide," Willing added.
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