Completion of the transaction is subject to certain conditions, including regulatory and legal approvals, Appleby said in a statement.
 
As a result of the MBO, partner and global group head of fiduciary Farah Ballands will become chief executive of the independent fiduciary business. 

Ballands said: “With Bridgepoint’s support and expertise in growing businesses successfully, we will be able to develop a greater range of products and services for our clients. The Appleby group has provided us with a solid foundation and enabled us to grow to the size, reach and scale that we enjoy today, but now is the right time to accelerate our growth plans.”

Appleby’s group managing partner, Michael O’Connell, will continue to lead the law firm post-completion.

“This is an exciting development for Appleby. The transaction will enable two strong businesses to grow and prosper independently, whilst remaining close where it suits the needs of clients,” he said. 

Advisors involved in this transaction for Appleby were PwC, Macfarlanes and Kinetic. For Bridgepoint, advisors were KPMG / Wyvern Partners; Stikeman Elliott; KPMG; Intuitus; Marsh and Travers Smith. For management, advisors were Liberty Corporate Finance, Dickson Minto and PwC.