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 |
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| Martin Fotheringham, Chief Financial Officer |
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| David Vieira, Chief Communications Officer | Tel: +44 (0) 7797 735 444 |
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| Camarco (Financial PR) |
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| Geoffrey Pelham-Lane | Tel: +44 (0) 7733 124 226 |
| Sam Morris | Tel: +44 (0) 7796 827 008
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| 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.
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