16th Sep 2021 11:08
JTC PLC - Jersey-based fund management and professional services - Buys Segue Partners, a fund services provider based in St Louis, Missouri, for an undisclosed amount in cash and shares. The deal includes performance-related add-ons in 2022 and 2023. Segue offers services for private equity, venture capital, debt funds and family offices, as well as accounting services for companies. Founder Michelle Murray will continue to lead the business and its 12 employees. The deal will provide a scalable platform for JTC in the US. Segue made USD1.5 million revenue in 2020, and underlying earnings before interest, tax, depreciation and earnings of over 20% of that.
Current stock price: 789.00 pence
Year-to-date change: up 41%
By Ivan Edwards; [email protected]
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