AAC Capital Partners, a Northern European midmarket buy-out firm, has agreed to acquire a majority stake in Orangefield Trust from Foreman Capital.
The company’s management team, led by CEO Joep Bruins, will invest alongside AAC Capital Partners.
The transaction, whose amount remained undisclosed, is subject to customary legal and regulatory approvals.
Orangefield is an independent trust services provider offering accounting, reporting, management, domiciliation and fund administration services to corporate clients, private clients and funds.
After the divestment by ING Group to Foreman Capital in 2007, management supported by Foreman re-branded the business and expanded its international network. Today the company operates offices in Singapore, Hong Kong, Mauritius, the Netherlands, London, Curacao, Cyprus, Frankfurt and British Virgin Islands.
With Capital Partners, Orangefield’s management intends to further expand the international network and to accelerate growth through a selective number of acquisitions. According to Mr. Bruins, this new partnership with AAC Capital Partners will help the company achieve their growth ambitions in target geographical areas and professional business segments.