Boston Multi Family Office (“Boston MFO”), one of the Isle of Man’s highest profile trust and fiduciary services businesses, has secured a significant investment from Horizon Capital, the specialist technology and services investor.
Horizon Capital will take a majority stake in the company, supporting the management team as they continue to grow the business both organically and via high quality acquisitions for the benefit of clients and staff alike. The partnership with Horizon will enable Boston MFO to continue to build on the momentum already created following recent acquisitions.
Katherine Ellis (CEO) and Alex McNee (COO) led a management buyout of Boston MFO from its family office ownership in October 2019. Since then, the business has grown substantially via strong organic growth through the winning of new customer relationships and through the acquisition of IQE in 2020, a highly complementary fiduciary services business based in the Isle of Man.
The transaction remains subject to regulatory approval.
”We are thrilled to be partnering with Horizon for this exciting next phase of Boston. The last 3 years since the MBO has been a great period of growth for Boston and we couldn’t have achieved such success without the outstanding team effort from all our staff in the Isle of Man and Malta. From our initial meetings with the team at Horizon it was clear we shared very similar views on how to grow Boston both organically and through strategic acquisitions, and with keeping our staff and our clients at the top of the agenda.Katherine EllisBoston MFO, Chief Executive Officer
”We are delighted to be investing in Boston MFO as they continue to grow the business. We share a like-minded approach to growing high quality services businesses in fragmented markets, and we are looking forward to working with Katherine, Alex and all of the team to support continued organic growth and further acquisitions."Adam LewisHorizon Capital, Partner
Horizon was advised by CMS, Clearwater International, Armstrong, RSM, KPMG and Deloitte.