Travers Smith LLP has advised long-standing client Bridgepoint and other selling shareholders on the sale of Estera to Inflexion-backed Ocorian for an undisclosed sum.
Acquired by Bridgepoint in January 2016, Estera is an independent, global, market leading provider of corporate, fund and trust services and will be merged with Inflexion’s existing portfolio company Ocorian, forming a global corporate service and fund administration leader. The combined business will operate from 18 key global jurisdictions (including Bermuda, Cayman, Guernsey, Ireland, Jersey, Luxembourg and Mauritius) and its 1,250 professionals will serve over 8,000 clients across the corporate service, fund administration and private client sector.
Farah Ballands, Estera Chief Executive, said: “This is a really exciting next step for our business and everyone who works for it. We are delighted that we will be partnering with Inflexion and Ocorian to help us develop and grow the business even further. With their support, we look forward to implementing an ambitious joint growth plan."
William Paul, Partner and Head of Bridgepoint's financial services team, commented: "Estera has a reputation for high quality, client-centric services, and the expertise to deal with the complex needs of its clients. Alongside a strong management team, we have helped the business build market leadership positions globally across its product portfolio and accelerated investment in its platform as well as in selective acquisitions. We wish the company and its team continued success under its new ownership."
The Travers Smith team was led by Co-Head of Corporate and Head of Private Equity & Financial Sponsors Paul Dolman and Private Equity & Financial Sponsors Partner Genna Marten together with Associates Max Conway, Rachel Taggart and Kapish Davé.
Tax advice was provided by Head of Tax Simon Skinner assisted by Katherine Williamson. The team also included Finance Partner Barry Newman and Financial Services and Markets Partner Phil Bartram.
Completion of the transaction is subject to regulatory approval.
Bridgepoint's other advisers included Deutsche Bank and ING (M&A), KPMG (Financial and Tax), Duff and Phelps (Regulatory) and BAE (IT).