Permira Advisers’ £2.7 billion acquisition of JTC has been completed in a “milestone” deal that saw the latter firm de-list from the London stock exchange.
JTC is now a private company following the acquisition, achieved by funds advised by Permira alongside the Canada Pension Plan Investment Board.
It will continue to operate under its existing name and brand.
JTC chief executive Nigel Le Quesne described the deal’s completion as “an important milestone” for the company.
He said: “With Permira as our partner, we are well positioned to deliver our Genesis era business plan, where our vision is to double the size of the group once again.
We look forward to supporting the business as it delivers its latest growth era
Robin Bell-Jones, partner at Permira
“We will do this by combining the best people with the best technology to deliver service excellence to all our clients across a secure, efficient and scalable global platform.”
Mr Le Quesne added: “We already have a proven track record of delivering sustained growth through a combination of entrepreneurial organic expansion and disciplined acquisitions.
“With Permira’s backing, we’re excited to accelerate that strategy further – investing in our people, next-generation technology and AI capabilities, while continuing to pursue strategic acquisitions, with a particular focus on North America and Europe.”
Permira partner and London head Robin Bell-Jones said the firm was “delighted to have completed our investment in JTC and to be partnering with Nigel and the wider team at this exciting stage”.
He continued: “We look forward to supporting the business as it delivers its latest growth era, accelerating its expansion across North America and Europe through continued investment in service quality, AI-enabled client delivery and strategic acquisitions.”
