SANNE deal to acquire market leading IFS Group in Mauritius completes

Andrew Goodyear

Andrew Goodyear, Director, Strategy

01 January 2017

SANNE, the specialist provider of outsourced corporate, fund and private client administration, reporting and fiduciary services, is pleased to announce that its deal to acquire International Finance Services Limited and IFS Trustees (“The IFS Group”) has now completed as at 1 January 2017.

The IFS Group is a leading Mauritius-based provider of fund and corporate administration services to corporates and alternative asset managers. Founded in 1993, the IFS Group provides services to more than 1,000 global entities, and has assets under administration in excess of $82 billion. The IFS Group has a large existing revenue base across funds and corporate structures for investment in to India and Africa. The IFS Group has a largely institutional client base, with a high concentration of assets under administration being funded from the US or Cayman.

The IFS acquisition represents an important strategic step for SANNE in establishing scale in its emerging markets platform. SANNE’s management team will work with the IFS Group’s management team (who will remain with SANNE) to integrate the Group’s people, clients and systems into the SANNE operating model. With the deal now complete, SANNE engages with more than 1000 people globally, manages more than 5000 structures and administer assets in excess of £160bn. SANNE has operations, at scale, spread across recognised international finance centres located in the Americas, Europe, Africa and Asia-Pacific.

Dean Godwin, Chief Executive Officer of Sanne Group plc, commented:

“IFS is a fantastic business and an important acquisition for us as it further realises our ambition of building a leading, global business across the Americas, Europe, Africa and Asia-Pacific. The IFS Group is highly profitable, with a service offering and client base extremely complementary to SANNE’s. Mauritius is one of the leading international financial centres for foreign investment into Africa and India and this transaction provides us with a significant platform to both support clients in these attractive regions and grow our emerging markets presence. I am delighted to welcome the IFS Group team to SANNE and we are excited about the opportunities to come.”

Couldip Lala, Founder Director of IFS, commented:

“We are extremely proud of the business that we have established over the past 20 years and, whilst Sanne is a large organisation with global reach, they share many similarities with our business, in particular the value they place on client service. We look forward to being an integral part of the next phase of growth.”

For more information about IFS Group, click here

 

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