DOUGLAS, Isle of Man--(BUSINESS WIRE)--Following a deal announcement in April, SMP Group has today confirmed that it has secured regulatory approval from the HK Companies Registry and completed the acquisition of RBC Corporate Services Hong Kong Limited.
The deal has been undertaken with the support of Palatine Private Equity LLP, the UK mid- market private equity house that partnered with SMP in its 2019 management buy-out, with additional debt funding from Apera Asset Management.
David Hudson, Group CEO of SMP Group, commented:
“While we will be celebrating completion of this strategically important deal together today, regulatory approval is just the first stage in the process of thoughtfully integrating two successful teams of people. There is a lot more work to be done, but we are undertaking it in the knowledge that our ambitions and culture are aligned and together we can build on the existing operation and service offering.”
Sam Lee, formerly of RBC Corporate Services Hong Kong Limited, who will be continuing as Client Services Manager at SMP, commented:
“We’re immensely grateful for the diligent work of our staff, the team at SMP, and the regulators in seeing the deal through to this stage. With our eyes firmly fixed on a very positive future for everyone involved, we’ll now begin to work in earnest alongside our new colleagues around the world to bring an ever more international, ever more attractive offering to our client base.”
About the SMP Group of Companies: www.smppartners.com
The SMP Group of Companies provides corporate and trust structuring, accounting and tax, and fund services to a global client base of both corporate clients and high net worth individuals. It has over 265 staff working in the Bahamas, Cayman Islands, Hong Kong, Isle of Man, Jersey, Malta and Switzerland.