Isle of Man fiduciary group Equiom up for sale amid sector consolidation wave

Equiom Group, the Isle of Man-headquartered wealth and fund administration business, is on the market at a reported £240 million, presenting one of the more substantial acquisition opportunities to surface in the financial services sector this year.

With second-round bids now being invited from both trade buyers and private equity firms, the process remains open to acquirers looking to secure an established, internationally spread platform in a corner of the market where buyers are competing hard for scale.

The business, which is based in Douglas and majority owned by credit investor Alcentra, is one of the larger independent providers of wealth structuring and fund services in the Crown Dependencies. A deal at the reported £240 million level would rank among the more significant transactions in a sector that has seen sustained consolidation over the past 18 months, and the breadth of interest points to a competitive field of would-be buyers.

Equiom serves family offices, high-net-worth individuals and corporate clients, with services spanning wealth structuring, trustee services, fund administration and workplace savings plans. The group employs more than 450 people across 13 offices. Its network covers the Isle of Man, Guernsey, Jersey, Monaco and Scotland in Europe, Dubai, Abu Dhabi, Riyadh and Doha in the Middle East, Singapore and Hong Kong in Asia, and the Cayman Islands.

The group traces its origins to 1968, when it operated as part of accountancy firm EY. It was acquired by Anglo Irish Bank in 2003 before a management buyout in 2006 established it as an independent business. Equiom administers assets estimated at around £150 billion on behalf of its clients.

Third-party estimates put the group's annual revenue at approximately $207 million (around £162 million) for the 2024 financial year, with one data provider placing turnover in a broader range of between $200 million and $500 million in the period to September 2025. Equiom does not publicly disclose its earnings.

At the reported £240 million valuation, the implied multiple of around 1.5 times revenue is broadly consistent with norms in the fund administration sector, although the figure may be understated if the available revenue estimates are dated. Fund administration businesses of Equiom's profile typically change hands at higher multiples of underlying earnings, reflecting the recurring, contracted nature of much of their income and the high cost for clients of switching provider.

The business has reported growth across several of its markets. Its Middle East workplace savings operation surpassed $4 billion in assets under administration in May 2026, up from $3 billion a year earlier, an increase of around a third over 12 months. The group has also pointed to a new client pipeline worth around $100 million in 2026, with much of its recent momentum drawn from the Gulf, where demand for end-of-service benefit schemes and corporate savings arrangements has grown.

Equiom's ownership has passed through several private equity hands over the past decade. LDC, the private equity arm of Lloyds Banking Group, acquired a stake in 2013 and initiated a sale in 2017, though that process collapsed before a deal could be completed. Värde Partners co-invested alongside LDC in 2019, with debt facilities provided by Investec. Alcentra became the majority owner in January 2022, with KKR continuing as a lender and Värde and LDC retaining economic interests. The change of control received full regulatory approval later that year.

The current process follows a period in which Equiom has reshaped its operations and trimmed parts of its international footprint. In 2025, the group's Netherlands and Luxembourg businesses were acquired by Hawksford, the STAR Capital-backed fiduciary services firm, in a deal for which terms were not disclosed. The disposal left Equiom more concentrated on its core Crown Dependencies, Middle East and Asian markets.

The sale comes amid a wider wave of dealmaking across the UK and Crown Dependencies wealth and fund services sector. Private equity firms have been actively acquiring smaller providers, building larger platforms through bolt-on deals, while established groups have sought to add scale and outsource administrative work in response to rising regulatory complexity and cost pressures.

The combination of recurring revenues, fragmented ownership and the operational benefits of consolidation has made the sector a consistent source of transactions, and a steady stream of opportunities for buyers seeking a foothold or a platform for further growth.

Recent deals reflect that activity. NatWest acquired Evelyn Partners in a £2.7 billion transaction in February 2025, while SS&C Technologies bought fund network Calastone for £766 million in July 2025. Sale processes have also been initiated at advice consolidator Amber River and at Canaccord Wealth, underlining the breadth of assets coming to market across both wealth advice and fund services.

For prospective acquirers, Equiom offers an established international platform with a long operating history, having moved between trade, banking and private equity hands since it first became independent in 2006. The mix of trade buyers and private equity firms in the current round suggests appetite both from operators seeking to add scale and from financial buyers looking for a base from which to consolidate further.

No information has been disclosed on the timing of any completion, and the process remains at the second-round bidding stage, leaving room for interested parties to engage.

Also read:
Culture and data guiding financial advice M&A, with scale no longer the priority

A more selective approach to M&A has seen the value of wealth management dealmaking surge, despite a drop in deal volume

Share this article

Latest Professional and Financial Businesses for Sale

---

---

---

View more businesses for sale