Forvis Mazars Mergers & Acquisitions (M&A) team is delighted to have acted as corporate finance adviser to VG Holdings Limited on its sale to Mayfair Equity Partners.
Founded in 1982, VG is one of the largest Jersey-based providers of private wealth advisory and fund services, employing a team of over 100 professionals. The Company provides a wide range of services to a global client base of individuals, corporates and fund managers. VG is recognised for particular expertise in bespoke Shariah compliant services and solutions.
Mayfair will partner with Iain Mason, Managing Director and his management team to deliver growth through account expansion and new customer acquisition, as well as delivering operational efficiencies through investment in innovative technology. The team will also explore expansion through strategic M&A.
VG has delivered exceptional growth over the last four years with revenue growing by 28% per annum between FY22 and today. The Company has also delivered significant EBITDA growth over the same period, thanks to process optimisation resulting in enhanced staff utilisation. VG’s performance is underpinned by the strength and durability of its client relationships, with the company achieving an average 10-year client tenure with no single client representing more than 4% of revenue.
The VG transaction is a significant one in the Trust and Company Service Providers sector in Jersey as the business is one of the largest independent players in the space and has a long and storied heritage, with strong links to Voisin's law firm. To be able to deliver a deal which not only ensured a fantastic return for shareholders but also found a partner in Mayfair Equity Partners that will enable the management team to continue the incredible growth journey, is a source of huge pride and satisfaction. I have no doubt that with the backing of Neil Price and the team at Mayfair, VG will continue to go from strength to strength.
Paul Joyce
Partner - Mergers & Acquisitions
From the start of the project [the Forvis Mazars M&A team] conducted their role with great enthusiasm and good grace. The production of the materials [they] provided to us to assist the process where always accurate, well thought out and presented in a timely manner. There were many times when [they] had to put long hours into producing information and figures, but [they] never let the pressure show in the interactions with VG, [their] client, and [they] always maintained a positive, can-do attitude.
Post the [deal] signing, it seemed strange not having as much interaction with Team [Forvis Mazars], almost as if we had suddenly lost a group of close colleagues. This is certainly due to the fact that Team VG believed we had a great partner with [them] and there is no doubt in my mind that working with Team [Forvis Mazars] and Team HCR made the whole process easier and more bearable for us all.
Ian Murphy
Director, VG Holdings Limited
Related links
VG announces partnership with Mayfair Equity Partners
Mayfair Equity Partners invests in Jersey-based Trust and Corporate Services provider VG
