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Opera Agrees To Acquire Accuro, Continues Its Five-Year Plan
Opera Group has a five-year plan to acquire certain businesses, with the latest being a business that came out of an MBO in 2017.
Accuro, the trust and
private office company, has been acquired by Opera, a privately
owned business whose majority owner is Pula, the family office of
Stephen Lansdown, co-founder of UK-based Hargreaves Lansdown.
Sealyham, the family office of Tom Scott, is also an owner of
Opera.
“This is a natural next step in the organic growth story of
Accuro since our management buy-out in 2017,” Xavier Isaac (main
picture), Accuro’s CEO, said in an emailed statement.
“We share a unique and aligned vision with Opera, to build one of
the world’s leading private client and funds-focused fiduciary
businesses. We believe this strategic evolution will benefit our
clients and staff, thanks to Opera’s core of being ‘by families,
for families’,” Isaac said.
Accuro is owned by management and staff; its owner-managers will
“significantly reinvest back into Opera,” Isaac continued.
The Accuro management team will remain in place, while staff will
be both incentivised through our employee benefit trust and
eligible within Opera’s group-wide share scheme.
“Opera’s five-year strategic plan (which is already well
underway, with important fiduciary and funds acquisitions in key
jurisdictions) is engineered to offer a strong
multi-jurisdictional platform with innovative operating systems
and digitisation for efficiency, optimisation, and increased
service lines,” he said.
“We are aware that only a respected source of patient capital
from families who are just like our clients would suit our
capital growth needs and values. This is why we embraced this
unique opportunity to become a part of Opera, after an extensive
and thorough search,” he added.
Once the transaction is complete, Accuro’s advisors and clients
can tap into a global platform stretching from the Bahamas to
Mauritius and the Channel Islands to Switzerland, the Isle of Man
and England.
Opera has made similar moves as part of a five-year plan. In
March, Oak group, the fiduciary, corporate, and fund
administration business,
officially transitioned to private ownership under Opera.