02 October 2017

Carey Olsen leads on strategic business acquisition of Guernsey-based Gentoo

M&A specialists from Carey Olsen’s Guernsey corporate team have acted as lead legal counsel on a significant acquisition of a Guernsey financial services business.

TMF Group, a global financial and business services provider, has purchased Gentoo, an independent provider of administration services to regulated and unregulated funds and family office structures, as well as depositary and corporate and domiciliation services. Gentoo has offices in Guernsey and Luxembourg.

Gentoo will come under the umbrella of TMF Group’s private equity and real estate business offering and it is seen as a strategic purchase for the group which gives TMF Group a presence in Guernsey's fund administration sector for the first time, as well as bolstering its presence in Luxembourg.

Carey Olsen partner, Tony Lane, and senior associate, Arya Hashemi, led the legal team working for TMF Group, and co-ordinated Luxembourg legal advice provided by LG Avocats.

Advocate Lane said: “This was a significant transaction for TMF Group and presents an exciting opportunity for the future development of the highly-regarded Gentoo business. With London law firm Weil, Gotshal & Manges (London) LLP leading the legal team for Gentoo, the transaction is the latest example of a cross border M&A deal in which we have worked opposite a major onshore law firm. This further demonstrates Carey Olsen's depth of expertise and our ability to run transactions of that size and complexity.”

Stephen Long, M&A Director for TMF Group said: “This is an important acquisition for TMF Group as we continue our investment in the alternative investments space, and we look forward to welcoming the Gentoo team into the business. In a complex, multi-jurisdiction transaction we are grateful to Tony, Arya and the team for their support. Their pragmatism and expertise was hugely appreciated and I would not hesitate to work with them again.”