Vistra, a provider of trust, fiduciary and fund administration services, has bought Irish capital markets corporate and trust firm Canyon CTS for an undisclosed sum.

Canyon, established in 2014, offers corporate and trust services for structured finance deals, along with corporate restructuring support and aircraft leasing services.

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The firm has offices in Shannon, which serves as its headquarters, Dublin and New York.

The firm’s 32-member team will join Vistra as part of the deal. Canyon’s current managing director Andrew Ryan will retain leadership of the team.

“We are excited to join Vistra; their well established businesses in countries like the Netherlands and Luxembourg will leverage our services and provide our clients with further links to local onsite support,” Ryan noted.

Vistra CEO Martin Crawford said: “The experienced team at Canyon has built a distinguished reputation for themselves in a short space of time, growing the business exponentially. Over this time, Vistra has developed a strong relationship with their business and we have seen the importance of Ireland in the capital markets sector, in particular in aircraft leasing.

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“Strengthening our presence in Ireland through this acquisition will also enable us to extend our client offerings.”

The latest deal further expands Vistra’s Irish footprint. It acquired Dublin-based Squires Gilbride Chartered Accountants & Advisors last month.

In September 2017, Vistra also acquired the corporate services business of Deutsche Bank’s Global Transaction Banking arm that has operations in the UK, Ireland, Luxembourg, Netherlands, Jersey, Mauritius, Cayman Islands and the US.