Rockpool exists Boston MFO to Horizon Capital
Rockpool has agreed to exit its investment in Boston Multi Family Office (“Boston MFO”), one of the Isle of Man’s highest profile trust and fiduciary services businesses, generating a strong return to Rockpool investors.
Following Rockpool’s exit, Horizon Capital (“Horizon”) will take a majority stake in the company, supporting the management team as they continue on to successively growth the business both organically and via acquisitions.
Rockpool first backed Katherine Ellis (CEO) and Alex McNee (COO) in the management buyout of Boston MFO from its family office ownership in October 2019. Since then, the business has grown substantially via strong organic growth through the winning of new customer relationships and through the acquisition of IQE in 2020, a highly complementary fiduciary services business based in the Isle of Man. The acquisition proved to be a successful commercial and cultural fit and provided Boston with additional scale and service capabilities.
The transaction remains subject to regulatory approval.
Rockpool’s investment in Boston MFO was led by Guy Ellis and Simon Collins.
I’m extremely proud of what Katherine and Alex have managed to achieve at Boston in such a short period of time. The team have not only proven they can scale the business organically and make add-on acquisitions, but they can do this all whilst keeping people and the Boston culture at the heart of the business. We’ve loved working with the team and wish them all the best in continuing their journey with Horizon.
Guy Ellis, Partner at Rockpool Investments
Rockpool have been outstanding partners since 2019 and with their support excellent progress has been made against the original business plans. This has been achieved by a team effort, a shared enthusiasm and dedication to providing the best services for our clients.
Katherine Ellis, Chief Executive Officer of Boston MFO
We are delighted to be investing in Boston MFO as they continue to grow the business. We share a like-minded approach to growing high quality services businesses, and we are looking forward to working with Katherine and all of the team to support continued organic growth and further acquisitions.
Adam Lewis, Partner at Horizon Capital
Rockpool and the company were advised by Taylor Wessing LLP, Keystone Law, Mazars LLP, KPMG and Kroll. The management team was advised by Stephenson Harwood LLP and Jamieson. Horizon was advised by CMS, Clearwater International, Armstrong, RSM, KPMG and Deloitte.
For more details about investing with Rockpool, email team@rockpoolinvestments.co.uk.
Capital at risk and you may not get back what you invest. Past performance is not a reliable guide to future performance.
For more information on this investment click here.
