The provider of administration, management and corporate governance services has bought a business in New Jersey, adding to its business in New York. The firm has been building its international footprint.

Crestbridge, which provides administration, management and corporate governance solutions, intends to buy Ovation Fund Services, a business based in New Jersey. Crestbridge already has a US office, in New York.

Ovation will become part of the Crestbridge brand from 31 December and is the business’ seventh office. All Ovation employees will become members of the global Crestbridge team.

The transaction adds to Crestbridge’s multi-jurisdiction proposition, adding to a network of officves in London, Luxembourg, Bahrain, the Cayman Islands and Jersey (Channel Islands). The office is in Morristown, New Jersey.

Financial terms were not disclosed by Crestbridge in its statement yesterday.

“In particular, this [deal] provides North American based clients with access to European investment markets and turnkey solutions, which continues to be an increasingly strong trend, as well as supporting inward investment into North America. We are very much looking forward to supporting our global client base and helping facilitate their continued success,” Paul Perris, chief commercial officer of the Crestbridge Group, said.

The New Jersey office will be headed by Scot Hadley, Ovation’s founder, who has over 23 years’ experience in the sector. He established Ovation nearly four years ago. Prior to establishing Ovation, Hadley spent 18 years of his career at Paladin Realty Partners, an institutional real estate fund manager, where he was one of ten founding members of the firm.

This latest acquisition in North America also follows the announcement of Crestbridge Fiduciary LLC, created to support families with US-based interests. This joint venture with Wyoming-based Willow Street was formed in response to exceptional client demand for family office services and consolidates Crestbridge’s global expertise with Willow Street’s in-depth trust and fiduciary capability and high-caliber client base.

In November Crestbridge named a new chief executive, Dean Hodcroft, taking the reins from Graeme McArthur in July next year.