OV Group (the merged business of Offshore Incorporations Group and Vistra) is becoming a force to be reckoned with in the world of trust, fiduciary, corporate and fund services. Despite the global economic gloom, OV has continued with an aggressive expansion plan through a combination of organic growth into new territories and a series of acquisitions designed to add scale and geographical reach to the business.
Although they could have been forgiven for taking some time out from the acquisition trail to focus on post-merger integration, in fact the OV Group appears not to have slowed down its ambitious growth plans as 2011 draws to an end. Vistra has recently announced the launch of Vistra Fund Services Asia Limited, a new Hong Kong based operation which will complement its fund administration operations in Jersey and Luxembourg, and the acquisition of Cynosure, a 20-man specialist corporate services provider focused on the establishment of Wholly Foreign Owned Enterprises (WFOEs) in China. This latest acquisition means Vistra now has a considerable presence in mainland China, with offices in Shanghai, Beijing and Guangzhou.
Although they could have been forgiven for taking some time out from the acquisition trail to focus on post-merger integration, in fact the OV Group appears not to have slowed down its ambitious growth plans as 2011 draws to an end. Vistra has recently announced the launch of Vistra Fund Services Asia Limited, a new Hong Kong based operation which will complement its fund administration operations in Jersey and Luxembourg, and the acquisition of Cynosure, a 20-man specialist corporate services provider focused on the establishment of Wholly Foreign Owned Enterprises (WFOEs) in China. This latest acquisition means Vistra now has a considerable presence in mainland China, with offices in Shanghai, Beijing and Guangzhou.
In focusing on Asia as an area for expansion, Vistra is not alone, as many other companies in the sector are also trying to establish a foothold there. However, Vistra will benefit from the relatively high profile in Asia of the OIL business, and has gained scale from the merger of Acceptor & Credence Trust, and now the acquisition of Cynosure, and as such should be well placed to make an impact in the region.
OV Group has clearly set out to become one of the small number of "super-consolidators" emerging in the sector, such as TMF. And so far it seems to be making big strides to achieving that.
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