19 March 2015

Carey Olsen advises Ardel Holdings on the sale of Ardel Trust to Equiom

Carey Olsen has advised Ardel Holdings Limited on the sale of Ardel Trust Company (Guernsey) Limited to Equiom Group.

Ardel, previously known as Bachmann, was established in 1974 to provide specialist trust and corporate services to private and corporate clients and has, over the years, firmly established itself as one of the largest independent fiduciary services companies in the Channel Islands.

Equiom is an independent trust and corporate services provider with offices in the Isle of Man, Jersey, Malta and Hong Kong. The company first established a Channel Islands office in 2009 and this acquisition supports its objective to increase its presence in the islands.

Partner Konrad Friedlaender and senior associate Natasha Kapp advised Ardel on the Guernsey transactional and regulatory aspects involved in the disposal of the company.

Advocate Friedlaender said: "This sale continues the trend for acquisitions and consolidations in the financial services sector that we are seeing across all of our practice areas. We have no doubt that, in its new home as part of the dynamic multi-jurisdictional Equiom Group, Ardel will continue to grow and to deliver high quality services to its clients."

In 2010 Carey Olsen advised on the partial management buyout of Ardel (previously Bachmann Group). They also advised on the sale of Ardel Fund Services Limited to the JTC Group in 2013 and on the sale of the organisation's Swiss and New Zealand trust companies last year.