Boston Multi Family Office’s acquisition of IQE Limited has been completed following approval by the Isle of Man Financial Services Authority.
The transaction, which is the first acquisition since the management buyout at Boston in 2019, sees the transfer of all of IQE’s services and clients to Boston’s Isle of Man headquarters. IQE Limited directors David Karran, Moira McHarrie and Anne Couper Woods have now joined Katherine Ellis, Alex McNee and Sarah Ingrassia on the Boston board, with other IQE staff also transferring to Boston’s Hill Street offices.
Commenting on the completion announcement, Boston CEO Katherine Ellis said “We are delighted to welcome our new colleagues and clients to the Boston family. Due to the coronavirus pandemic, this acquisition was, by necessity, managed entirely remotely so it is very pleasing that we can now work together as one team.
“I would like to acknowledge the professionalism of staff at both companies in bringing these businesses together and look forward to an exciting future as we continue to develop with further select acquisitions that will see the Boston team continue to build their client focused approach in the market.
“I would also like to thank our investors at Rockpool Investments LLP for their continued support as well as those who helped us with the transaction including Kerry Smith from Kesmi Consulting for regulatory due diligence, Mazars for financial due diligence and Johnny Bethell from Taylor Wessing for legal input.”
While it is very much business as usual for clients in the short term, the acquisition will enable Boston to offer additional services such as providing sponsor services for securities to be listed on The International Stock Exchange to its wider customer base.
One of the Isle of Man’s highest profile trust and fiduciary businesses, Boston Multi Family Office was founded in 2002 as a single family office and was held privately until 2019. The company provides boutique administration services from offices in the Isle of Man, Malta, and the Dubai International Financial Centre (DIFC).