Peregrine Corporate Services Limited (“Peregrine”) has announced the acquisition of the book of business of Clearwater Fiduciary Limited (“Clearwater”), an independent Isle of Man corporate services provider.
Established in 2006 and led by founder and managing director, John Bingham, Clearwater provides company formation and management, trusts, family office and private trust companies services to its clients. While Peregrine, which was first established in 1986, also provides a variety of company and trust services to its clients, and continues to pride itself on being an owner managed firm.
Peregrine managing director, Martin Hall, commented:
“The acquisition of Clearwater expands Peregrine’s reach, team and client base. Our company strategy will continue to concentrate on growing the wider business and we want to ensure that our clients remain at the forefront of our plans. We are pleased to welcome John and the Clearwater family – whose ethos and passion fit that of what Peregrine stand for. I’d like to take this opportunity to thank the Peregrine team for their input and support which allowed the acquisition to happen so quickly and smoothly.”
John Bingham, managing director of Clearwater commented:
“This is a positive move for Clearwater – I have been very impressed how geared up the Peregrine team have been in moving forward. Our priority has always been to look after our clients and provide the best service as possible, which has become increasingly difficult in an environment faced with more competition, regulatory requirements and costs of maintaining a boutique fiduciary company. Clearwater and Peregrine share very similar values and vision so I am confident becoming a part of Peregrine will ensure our clients will receive the same high-quality service. I’m looking forward to joining the Peregrine team and looking to the future.”
Peregrine and Clearwater both have strong connections to Africa and both companies pride themselves on the relationships that they have with their clients. The acquisition process began in September and was completed some 12 weeks later.