Isle of Man-based corporate services provider Middleton Katz has announced a deal to join the SMP Group of Companies, a global professional and financial services group.
The transaction has been approved by the Isle of Man Financial Services Authority.
Middleton Katz is a well-respected service provider on the Isle of Man, delivering corporate, tax, and accounting services to a broad range of clients. The company has built its reputation on professional expertise, personal service, and attention to detail.
Martin Katz, principal of Middleton Katz, said: ’I am incredibly proud of the business and sense of community we have built; as a small, close-knit team, we have consistently punched above our weight in terms of the services we deliver.
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’However, joining a larger group gives us the back-office support we need to extend and improve the services we offer clients much farther than we could alone.
’For us, SMP was a clear candidate from the beginning. We have dealt with them many times in the past and always been treated fairly and respectfully, so we already have strong relationships with many of their team.’
David Hudson, chief executive of the SMP Group, said: ’Middleton Katz is an efficient and highly skilled company that is well-loved and respected by both clients and staff for its personable and reliable service and culture.
’We know they will integrate very naturally into our business, and we believe our shared history and ambitions will be hugely beneficial for their clients and staff.
’Middleton Katz is our second acquisition since completion of the MBO (management buyout on June 14 and represents another significant milestone for our group.’
The deal has been undertaken with the support of Palatine Private Equity LLP, the UK mid-market private equity house that took SMP through its 2019 MBO, with additional debt funding from Apera Asset Management.
Last month Business News reported on the management buyout. Mr Hudson said at the time: ’The successful completion of the MBO with the blessings of the regulators in each of our jurisdictions is a significant milestone in SMP’s journey. What we are celebrating today is a big step, but not the only one, and our positive momentum as a group continues to build day by day as we invest and develop every area of our business.’