Meritus Trust acquires Lepercq
Meritus Trust Company Ltd, a boutique Bermuda trust and corporate service provider company, has acquired all of the shares in Lepercq Corporation Management Ltd and its direct subsidiary, Lepercq Corp Services Co Ltd, a Bermudian corporate service provider of company management and administration services.
The acquisition will extend Meritus's international reach and strengthen its position as a leading independent provider of corporate administration, trust and private client services.
Michelle Wolfe, managing director and co-founder of Meritus, said: “We have worked with Simon Lapierre and the Lepercq team in various capacities for over 20 years and are delighted to welcome them into the Meritus family.
“We are confident that the alignment in our core values and culture will allow us to successfully integrate the business in order that together we can continue to provide both the Lepercq and Meritus families with the high-quality level of service which they have come to know and expect.”
Allan Wiekenkamp, chief financial officer and co-founder of Meritus, said: “Despite this challenging market, we continue to see opportunities to develop and grow our business, but in order to take advantage of them, we need to be able to attract and retain the top talent.
“We are therefore delighted that this acquisition coincides with Meritus's ten-year anniversary. Having started Meritus with a team of only five people ten years ago, with this transaction, the Meritus team of experienced private client professionals will grow to 23 with the joining of the four Lepercq staff. This expansion will further allow us to proactively seize those opportunities.”
Simon Lapierre, managing director of Lepercq, said: “Having had a physical presence in Bermuda since the early 1980s, we at Lepercq have always prioritised client needs and provided high quality services, allowing us to establish long term relationships with our clients.
“This was only possible through the values of our team. Increased administrative work associated with ever changing compliance created the potential risk of being unable to focus on the servicing of our clients.
“We were unwilling to accept the risk resulting from this additional administrative burden. We are therefore thrilled for Lepercq and its team to join Meritus and have access to their wider resources.
“More importantly, Meritus' values and dedication to client needs are second to none as reflected by the many awards and positive feedback from clients that Meritus has received. Meritus is a perfect fit for our team at Lepercq and above all for our clients.”
Carey Olsen Bermuda Ltd, which acted as lead counsel to Meritus, advised on all aspects of the transaction. The team included senior associate Michelle Falcucci and partner Mary Ward. Commenting on the transaction, Mrs Falcucci said: “We are delighted to have assisted Meritus on their acquisition of Lepercq and the expansion of their corporate administration services offering.”