Boston Multi Family Office has welcomed new colleagues following the acquisition of Fedelta Trust Limited.

Thirteen people from Fedelta have joined the team, bringing the total number of staff in Boston’s office in Douglas to 61.

The transaction has been given regulatory approval by the Isle of Man Financial Services Authority, and sees the transfer of all Fedelta Trust services and clients to Boston.

This is the second acquisition since the management buyout of Boston in October 2019, which was led by Katherine Ellis, chief executive officer, and Alex McNee, who recently moved into the role of group director, mergers and acquisitions.

‘The addition of our new colleagues from Fedelta Trust brings valuable expertise and skills to the existing team,’ said Katherine Ellis. ‘This collaboration strengthens Boston’s position and supports Boston’s long term growth strategy creating even more value for its clients.

‘We are delighted to welcome our new colleagues and clients to the Boston family. The professionalism of staff at both companies in bringing these businesses together has been inspiring, and I look forward to an exciting future that will see the Boston team continue to build on their client focused approach in the market.’

Fedelta has provided financial services for more than 25 years.

‘Many of our clients have allowed us to provide service to their families for decades and we are now acting for the second and, in some cases, third generation,’ said its website.

Director Steven Quirk helped lead the move from Fedelta’s Athol Street office to Boston’s base in St Mary’s Court.

‘Fedelta has always endeavoured to offer a customer-focused approach with the highest standards of personal service, integrity and expertise. During our discussions with Katherine and Alex, it became apparent at an early stage that they, and the wider team at Boston, have a like-minded approach. This was important to us and will provide our clients and staff with a strong foundation for the future.

‘Additionally, our combined resources will strengthen the expertise that we can offer to our clients and the extensive solutions that Boston can provide will further enhance our services and give greater opportunities for our staff to develop and fulfil their potential.’

The acquisition, part of a long-term strategy of organic and acquisitive growth for Boston, was supported by Horizon Capital, who had recently completed investment into the firm.

‘We are delighted to support the acquisition of Fedelta,’ said Adam Lewis, partner at Horizon Capital. ‘This will continue to build on Boston’s client-focused approach and enhance the client offering going forwards.’

Boston Multi Family Office was founded in 2002 as a single family office and was held privately until 2019. The company provides boutique administration services from offices in the Isle of Man and Malta, meeting the varied needs of high net worth and ultra-high net worth (very rich) individuals, including their business interests.

‘I would like to thank our investors at Horizon Capital for their continued support,’ added Katherine Ellis. ‘As well as those who helped us with the transaction including Mazars for financial due diligence, Andrew Harding and Rachel Winterbach from DQ Advocates for legal input and Kerry Smith from Kesmi Consulting for regulatory due diligence.’