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Inflexion supports Ocorian’s acquisition of Capco

Inflexion Private Equity’s portfolio company Ocorian, a financial services firm, has acquired Capco Trust, a Jersey-based private client and corporate services business.

The deal will expand Ocorian’s service capabilities and client base, as well as the scope of its service offering to include expertise in international shipping finance. In turn, Capco’s clients will now benefit from an enhanced range of specialist financial services across a much wider range of international jurisdictions.
The deal is the third for Ocorian in the last 6 months, having announced the acquisitions of MAS in July 2017 and Intruad/Intruma in October 2017. Each acquisition has enhanced Ocorian’s service provision to clients, whilst also extending its geographical presence. Intruad gave the business a footprint in the Netherlands, while MAS enhanced Ocorian’s presence in Luxembourg, Europe’s largest fund jurisdiction.
Ocorian was founded in 1971 as Bedell Trust. Today the firm serves more than 900 clients across its eight regional offices employing over 350 people. Capco was founded in 1977 and its 29-strong team will become part of the enlarged Ocorian business.
The transaction is subject to regulatory consent.
Nick Cawley, Chief Executive Officer, Ocorian, says: “This transaction reflects the sustained expansion and diversification of Ocorian’s newly defined business and our commitment to growth in leading jurisdictions. It will further strengthen our position as a leading global financial services provider and complement our existing private client and corporate services business with additional expertise and capability in international maritime structuring.”
Simon Turner, Managing Partner, Inflexion, says: “We are truly excited to see the transformational effect partnering with complementary businesses can have. In less than two years since teaming up with Ocorian’s management team, we have worked together to identify a number of organic growth drivers for the business as well as select add-on opportunities. It is encouraging to see them come to fruition and support this dynamic business to grow globally. With over 60 acquisitions completed in 2017, Inflexion is fully convinced of the synergies global add-ons can bring.”  
David Capps, Group Chairman of Capco Trust, adds: “Our ambition for this transaction was to find a good home for our staff in the form of a partner that would sustain and strengthen the development of our private client and niche corporate services businesses, to the benefit of our clients – who will now be able to access a greater array of specialist financial services across a wider range of international jurisdictions.”

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