(Alliance News) – JTC PLC announced on Monday the acquisition of Hanway Advisory Ltd to strengthen its presence in the United Kingdom.
Established in 2018, Hanway provides corporate governance, fund administration and accounting services to UK listed investment companies.
JTC, the Jersey-based professional services firm, said the initial consideration will be settled at closing in cash. Additional deferred consideration is available contingent on the achievement of key client retention. No further financial details were disclosed.
JTC said the transaction strengthens its position as a leading provider of fund and corporate services globally, adding scale to its UK operations and its existing UK exchange-traded funds business.
“It will further support strategic growth objectives by leveraging JTC’s expanded fund services offering to Hanway’s existing customer base,” JTC added.
Nigel Le Quesne, Managing Director, said: “The Hanway team brings with them a wealth of experience and understanding of listed fund services, which strengthens our existing team and enables us to offer an even more compelling service to our UK listed clients.
JTC shares were up 1.0% at 971.00 pence each in London on Monday morning.
By Jeremy Cutler, Alliance News reporter
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