Memorably named expatriate specialist agrees to second Helvetic acquisition. Master Finance Europe, a subsidiary of Luxembourg-based securities firm Tally Ho Ventures, has agreed to pay about a $1 million for Primus Produkt & Vertriebs Management, a Lugano, Switzerland-based firm with about $400 million in assets under management.

Tally-Ho specializes in providing investment products and wealth-management services to high-net-worth expatriates. It has more than a dozen offices worldwide and it's authorized to operate in 23 countries.

ProMaster

Terms of the deal call for an initial cash payment of $400,000 plus $600,000 in shares of Tally-Ho to be delivered by the end of 2007 based on Primus meeting certain profit goals. The acquisition brings Tally-Ho's total assets under management to $2.25 billion.

"The Primus acquisition represents excellent value for us, since we are paying approximately one times Primus's anticipated 12-month net earnings of $1 million and at the same time adding $400 million in assets under management," says Tally-Ho's CEO Nigel Gregg.

Tally-Ho is in the process of changing its name to ProMaster. The new moniker combines the names of two of Tally-Ho's recent acquisitions: Ticino, Switzerland-based ProTrust Private Clients and Aberdeen, U.K.-based Master Finance Europe. -FWR

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