Following receipt of all regulatory approvals, the management buy-out (MBO) by the partners of Ogier Fiduciary Services from the Ogier Group was completed on 18 June 2014. This means that with immediate effect Ogier Fiduciary Services and Ogier are two independent businesses.
The MBO of Ogier Fiduciary Services is backed by Electra Partners, which invested £82m of equity on behalf of its major client Electra Private Equity, alongside a significant investment by the Ogier Fiduciary Services management team.
Debt facilities for the transaction were provided by a group of lenders comprising HSBC, Lloyds Banking Group, RBS, Babson Capital Europe and Alberta Investment Management.
Ogier Fiduciary Services will continue to be led by Paul Willing as chief executive officer, supported by the existing executive team. There will also be no change to the current client service and relationship teams.
Ogier Fiduciary Services and Ogier Legal will continue to share premises and facilities and all contact details remain the same.