LONDON: JTC Plc, the global professional services business, announced the acquisition of Hanway Advisory Limited.
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.
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.”