1 July 2024
JTC PLC
(the "Company" and
together with its subsidiaries "JTC" or
the "Group")
Acquisition of Hanway Advisory
Limited ("Hanway")
JTC strengthens its position
as a leading listed funds services provider in the UK with the
acquisition of Hanway Advisory Limited
JTC, the global professional services
business, is pleased to announce the acquisition of Hanway Advisory
Limited ("Hanway").
Background to Hanway
Formed in 2018, Hanway provides
corporate governance, fund administration and accounting services
to UK listed investment companies. An experienced team of six
professionals will remain with the business.
Post-completion of the acquisition,
Hanway will become part of JTC's Institutional Client Services
Division and will be JTC's second completed acquisition in the UK
funds market in 2024, following the acquisition of Blackheath
Capital Management LLP in March 2024.
Strategic Rationale and Financial Benefits
The acquisition of Hanway builds on
JTC's position as one of the leading providers of fund and
corporate services globally, bringing further scale to its UK
business and existing UK listed fund activities. It will further
support strategic growth objectives by leveraging the wider JTC
fund services offering to Hanway's existing client base.
The initial consideration will be
settled at completion in cash. Further deferred consideration is
available upon the achievement of key client
retention.
Nigel Le Quesne, CEO of JTC, said:
"This strategic expansion of our presence in the UK strengthens
and deepens our offering to institutional clients. The team at
Hanway bring with them vast experience and understanding of listed
fund services which enhances our existing team, enabling us to
deliver an even more compelling service to our UK listed
clients."
For
further information please contact:
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JTC
plc
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Tel: +44 (0)1534 700
700
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Nigel Le Quesne, Chief Executive
Officer
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Martin Fotheringham, Chief Financial
Officer
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David Vieira, Chief Communications
Officer
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Tel: +44 (0) 7797 735 444
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Camarco (Financial PR)
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Geoffrey Pelham-Lane
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Tel: +44 (0) 7733 124 226
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Sam Morris
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Tel:
+44 (0) 7796 827
008
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Charles Dingwall
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Tel: +44 (0) 7586 712 964
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About JTC
JTC is a publicly listed, global
professional services business with deep expertise in fund,
corporate and private client services. Every JTC person is an owner
of the business and this fundamental part of our culture aligns us
with the best interests of all of our stakeholders. Our purpose is
to maximise potential and our success is built on service
excellence, long-term relationships and technology capabilities
that drive efficiency and add value.
www.jtcgroup.com