Equiom is an Isle of Man based provider of offshore trust and company administration services. The business has a diverse customer base that includes large corporates as well as high net worth individuals. In addition to its core trustee and company services, which account for 70 per cent of its business, Equiom also operates niche business lines including yachting, aviation and e-gaming.
Building from a quick deal to long term growth
Livingbridge invested in December 2006 to fund a management buyout of the business from parent company Anglo Irish Bank, in a deal which they had only five weeks to pull together.
- After plans for sale were announced by Anglo Irish Bank, Sheila Dean, Managing Director, said “Livingbridge’s market knowledge and enthusiasm was immediately evident and allowed us to complete the transaction within five weeks – a considerable achievement.”
- Livingbridge supported the transition from the structure under the bank. Sheila said, “Possibly the hardest part was having to go through all the shared services we had with the bank and think about how we would do things without them.” Like any business coming out of a corporate environment, this meant a period of transition both practically and culturally, but we were confident the platform and management team could take the leap forward.
- We agreed an action plan with the team which covered areas such as the separation of functions from the parent company, rebranding of the business, and building their own compliance and IT functions.
- Equiom experienced significant growth during the investment period, as a result of its high quality service offering to customers, alongside considerable investment in its operational and sales capability.
- The business completed a number of successful acquisitions including Intertrust’s Isle of Man yachting and aviation business in January 2011, Jersey-based Andium Trust in October 2012 and City Trust, an Isle of Man independent corporate and trust service provider, in April 2013. Shani Zindel, partner at Livingbridge, said at exit, “Equiom has proven that it can weather an economic crisis, deliver organic growth and make acquisitions successfully. I am proud to have been associated with the business.”
Since exit Eqiuom has gone on to acquire a number of businesses including AFP Group Hong Kong, Lloyd’s Trust Company, and Vivat Trust & Corporate Services Ltd.
“We are extremely grateful for the input, guidance and insight we have received, and Shani’s open and honest approach, which has contributed hugely to our success and has assisted in transforming Equiom into the multi-jurisdictional business it is today.”
Sheila Dean, Group Managing Director
Livingbridge invest for a significant minority stake– making one of the Isle of Man’s biggest ever management buyouts
Acquisition of Intertrust’s Isle of Man Yachting and Aviation business
Acquisition of Jersey-based Andium Trust
Acquisition of City Trust, an Isle of Man independent corporate and trust service provider
Livingbridge sells Equiom to LDC