LDC supports MBO of Equiom

In the first of the post-summer deal announcements in the fiduciary space, LDC has announced that it is to support a second MBO of Equiom Limited, a Manx-headquartered trust company.

In addition to its core trustee and company services, which account for 70 per cent of its business, Equiom operates niche business lines including Yachting, Aviation & e-Gaming.

Equiom traces its roots back over 30 years, having started as the fiduciary business of Ernst & Young, before being acquired by Anglo Irish Bank in 2002. In 2006, the company was subject to an MBO, led by existing Group Managing Director Sheila Dean, in a transaction backed by Isis Equity Partners.

Since then Equiom has completed a number of successful acquisitions including Intertrust’s Isle of Man Yachting and Aviation business in January 2011, Jersey-based Andium Trust in October 2012 and City Trust, an Isle of Man independent corporate and trust service provider, in April 2013.

Equiom currently employs over 100 people across three offices in the Isle of Man, Jersey and Malta, and is planning to use the investment from LDC to fund both organic growth and acquisitions in what remains a fragmented market.