Bedell Cristin advise First Names Group on acquisition of Basel Group

19 Jul 2013

Bedell Cristin acted as legal adviser in the acquisition by First Names Group of international trust business, Basel Group, which completed on 17 July 2013.

The addition of Basel Group, one of Jersey's leading independent fiduciary businesses, strengthens First Names Group's offering in Jersey and Switzerland and signals First Names Group's commitment to creating a multi-jurisdictional platform for clients.

In addition to the acquisition of Basel Group, First Names Group has also agreed to acquire leading Luxembourg fiduciary business, the Citadel Group.

The Bedell Cristin corporate team was led by Peter Byrne, Tim Pearce and Simon Morris, and assisted by specialist lawyers from both its Jersey and BVI offices. Drawing on the extensive experience of Bedell Cristin's lawyers in regulatory, due diligence and M&A aspects and in the areas of property, employment and pensions law, the Bedell Cristin team ensured that the transaction ran smoothly and effectively. By making use of Bedell Cristin's legal capability in Jersey and the BVI, and engaging external counsel to deal with Luxembourg aspects of the transaction, Bedell Cristin were able to offer a seamless, multi-jurisdictional legal service to First Names Group.

Following Bedell Cristin's involvement in the successful acquisition by First Names Group of the Moore Group earlier in 2013, the team is delighted to be playing a continuing role in First Names Group's ambitious acquisition programme.

Peter Byrne comments:

Our reputation for having one of the strongest legal teams in the corporate market in the Channel Islands has led to our appointment as legal counsel on a number of key mergers, acquisitions, consolidations and private equity investments that have taken place in the last 7 or 8 years in the mature local fiduciary services markets in both Jersey and Guernsey. The First Names Group’s acquisitions are the latest in this line, and we are delighted to have worked closely with First Names Group on these two successful transactions.’

Morgan Jubb, CEO of First Names Group, adds:

The Bedell Cristin team’s commercial awareness of our sector together with their focus on providing top quality service and consistent advice throughout the deal process really added value. The team works extremely well collectively and we felt supported at all levels; from partner through to associate. Bedell Cristin are bringing through some strong young talent and I was particularly impressed with Simon Morris, who is one to watch for the future.'

For further information please contact Tim Pearce or Simon Morris.