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APQ Global snaps up Channel Islands-based corporate services group

The consideration will be paid in convertible preference shares to be listed on the Guernsey stock exchange

APQ Global -
Parish provides corporate and legal services

Emerging markets fund manager APQ Global Limited (LON:APQ) has beefed up its corporate services and administration offering in the Channel Islands with the acquisition of Parish Group for £2.7mln.

Parish provides a full range of fiduciary and corporate services from offices in Guernsey and Alderney and has customers in over 30 jurisdictions, including Israel, South Africa, the United Arab Emirates and Qatar.

In 2018, Parish generated revenues of £1mln and pre-tax profits of £0.4mln while gross assets were £1.4mln at the end of the year.

The consideration will be paid in convertible preference shares to be listed on the Guernsey stock exchange (TISE) with an additional 1mln of warrants to be issued to the vendors.

 Bart Turtelboom, APQ Global’s chief executive, said he was delighted with the deal.

“We are proposing to acquire a business which has a long-standing track record of delivering strong revenue and profitability and has expanded confidently since establishment.“

Quick facts: APQ Global

Price: 68 GBX

AIM:APQ
Market: AIM
Market Cap: £53.22 m
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