The partners of Ogier Fiduciary Services are completing a management buyout of the Ogier Fiduciary Services business from the Ogier Group.

The partners of Ogier Fiduciary Services are completing a management buyout of the business from the Ogier Group, following a strategic review, the Ogier Group said in a statement yesterday.

The deal is backed by private equity firm Electra Partners, which has agreed to invest £83 million in the £180 million transaction. 

“The deal will also result in significant additional funding to ensure Ogier Fiduciary Services can realise its ambitious growth plans and take advantage of market opportunities as they arise,” the firm said.

“Ogier Fiduciary Services is now at the stage where an MBO makes perfect sense given the additional investment needed to achieve its significant growth plans,” added Nick Kershaw, chief executive of the Ogier Group.

The two businesses - Ogier Fiduciary Services and Ogier Legal - will continue sharing offices and facilities initially and the fiduciary arm will continue to use the Ogier brand short term. Although separate entities, both businesses will continue to offer private client, wealth and trust services as before.

Ogier Fiduciary Services will continue to be led by CEO Paul Willing, in addition to the current executive team. There will also be no change to clients' existing relationship management teams, the statement explained, adding that throughout the transition process, management's focus is to ensure the MBO is completed with no disruption to clients and day-to-day business. 

Completion of the deal is subject to regulatory approval.  

Ogier Fiduciary Services offers capital, corporate fund and private wealth services and currently employs 450 people across 10 jurisdictions.