trending Market Intelligence /marketintelligence/en/news-insights/trending/H2FCYq6yR-y5-NkKj_7yYg2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In this list

JTC to acquire Luxembourg-based Exequtive Partners

Street Talk Episode 56 - Latest bank MOE shows even the strong need scale to thrive

South State CenterState MOE Shows Even The Strong Need Scale To Thrive

Talking Bank Stocks, Playing The M&A Trade With Longtime Investor

Report: Kashkari Says Fed In Holding Pattern But Rate Cut Still Possible


JTC to acquire Luxembourg-based Exequtive Partners

Jersey-based fund services provider JTC PLC is acquiring Luxembourg-based Exequtive Partners SA from Primitivo SARL, De Gorzen SARL, Tika Holdings SARL, Pimpiri SARL and Stichting Administratiekantoor Employee Benefit Jomaroma.

The sellers primarily represent the principals of Exequtive, who will join JTC with immediate effect. Exequtive's 28 employees will join the JTC institutional client services team in Luxembourg.

The initial consideration for the acquisition is €25 million, to be satisfied with €18.34 million in cash and the issue of 1,925,650 new ordinary shares in JTC. There is also an earn-out provision based on Exequtive's performance in the year to Dec. 31, 2019, with an absolute cap on total consideration of €34 million.

JTC expects the acquisition to immediately enhance earnings, and it said Exequtive made a profit of €61,000 in full year 2018, on adjusted EBITDA of €2.5 million. Exequtive, a provider of corporate and related fiduciary services, had gross assets of €1.9 million at the end of 2018.