RNS Number : 5612U
JTC PLC
01 July 2024
 

1 July 2024

 

JTC PLC

(the "Company" and together with its subsidiaries "JTC" or the "Group")

 

Acquisition of Hanway Advisory Limited ("Hanway")

 

JTC strengthens its position as a leading listed funds services provider in the UK with the acquisition of Hanway Advisory Limited

JTC, the global professional services business, is pleased to announce the acquisition of Hanway Advisory Limited ("Hanway").

Background to Hanway

Formed in 2018, Hanway provides corporate governance, fund administration and accounting services to UK listed investment companies. An experienced team of six professionals will remain with the business.

Post-completion of the acquisition, Hanway will become part of JTC's Institutional Client Services Division and will be JTC's second completed acquisition in the UK funds market in 2024, following the acquisition of Blackheath Capital Management LLP in March 2024.

Strategic Rationale and Financial Benefits

The acquisition of Hanway builds on JTC's position as one of the leading providers of fund and corporate services globally, bringing further scale to its UK business and existing UK listed fund activities. It will further support strategic growth objectives by leveraging the wider JTC fund services offering to Hanway's existing client base.

The initial consideration will be settled at completion in cash. Further deferred consideration is available upon the achievement of key client retention. 

Nigel Le Quesne, CEO of JTC, said:

"This strategic expansion of our presence in the UK strengthens and deepens our offering to institutional clients. The team at Hanway bring with them vast experience and understanding of listed fund services which enhances our existing team, enabling us to deliver an even more compelling service to our UK listed clients."

 

For further information please contact:

JTC plc

Tel: +44 (0)1534 700 700

Nigel Le Quesne, Chief Executive Officer



Martin Fotheringham, Chief Financial Officer



David Vieira, Chief Communications Officer

Tel: +44 (0) 7797 735 444





Camarco (Financial PR)

 

Geoffrey Pelham-Lane

Tel: +44 (0) 7733 124 226

Sam Morris

Tel: +44 (0) 7796 827 008

 

Charles Dingwall

               Tel: +44 (0) 7586 712 964

 

 

About JTC

JTC is a publicly listed, global professional services business with deep expertise in fund, corporate and private client services. Every JTC person is an owner of the business and this fundamental part of our culture aligns us with the best interests of all of our stakeholders. Our purpose is to maximise potential and our success is built on service excellence, long-term relationships and technology capabilities that drive efficiency and add value. 

www.jtcgroup.com

 

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