FTSE 250 corporate solutions firm JTC has struck a deal to expand its employer services division with a new acquisition – the latest in a string of recent takeovers.
The London-listed firm, headquartered in Jersey, revealed plans today to acquire the Buck UK and European Share Plan Administration and Trustee Businesses from Arthur J. Gallagher & Co in a bid to enhance its existing employer solutions platform.
JTC said the takeover would expand the division’s scope and give it access to the firm’s existing book of “high-quality, long-standing blue-chip clients”, plus a 16-strong team based in the UK, Guernsey, and Germany.
Nigel Le Quesne, CEO of JTC, said: “This acquisition is exciting for us as share plan services are closely aligned with our own shared ownership philosophy, which has been at the heart of JTC’s culture since 1998.
“We believe that our passion for shared ownership, combined with the 25-year track record of our employer solutions business, continues to cement our position as a market leader.
“The JTC employer solutions business continues to grow strongly, and we are pleased to be able to further expand our employee share plan offering.”
David Piltz, CEO of Gallagher’s benefits and HR consulting division in the UK said: “JTC’s values define who they are as an organisation, with service excellence at the heart of everything they do.
“From a Gallagher perspective, cultural fit was such an important factor in our decision to undertake this deal with JTC.
“It was crucial to us that our people and our clients would be moving to an organisation which shared Gallagher’s values and focus on both exceptional client service and a collaborative, supportive and inclusive working environment.”
The deal follows JTC’s announcement in April that it had acquired one of First Republic’s trust administration arms from JP Morgan Chase for $21m (£17m).
FRTC-DE provides trust administration services to high-net-worth clients and has roughly $9bn (£7.3bn) of assets under administration by market value.
In July, it also acquired Hanway Advisory and Blackheath Capital Management for an undisclosed amount in March.