IGG's purchase of Clarity Trustees shows growth ambitions
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Independent Governance Group, the newly merged and rebranded ITS and Ross Trustees, has bought Clarity Trustees for an undisclosed sum.
IGG members were appointed as directors to Clarity on 15 February, according to Companies House. IGG was created only recently through the merger of Ross Trustees with Independent Trustee Services to build a 110-strong firm. IGG now has a combined client portfolio of about 440 schemes with more than £340bn of assets under governance.
Clarity was founded by Karein Davie, who mallowstreet understands was the sole team member and joins IGG on Monday. Private equity firm LDC, which started investing in Ross Trustees in 2020, provided additional funding for this latest transaction.
Chief executive of IGG Andrew Bradshaw welcomed Davie and her clients. “Our team will benefit enormously from her wealth of experience and hands-on approach to professional trusteeship, while her arrival marks an important strategic milestone as we continue to expand our regional presence,” Bradshaw said.
Davie will continue to lead work for her existing client schemes. She said her clients would benefit from the greater resources and diverse range of skills in IGG.
“It was essential for me to find the right business partner for Clarity Trustees – namely, one that mirrors my beliefs about what schemes and sponsors can, and should, expect from a professional trustee,” she added.
Birmingham-based Clarity is the third deal since LDC's involvement. Ross Trustees bought Michael Clark’s CBC Pension Services last year.
Earlier on Monday, Punter Southall Governance Services and 20-20 Trustees announced their merger to create Vidett.
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