Sovereign backs Summit Group's acquisition of R&H Jersey

Sovereign Capital Partners, the UK private equity Buy & Build specialist, announces that its portfolio company Summit Group has successfully acquired R&H Jersey, a well-established Jersey-based provider of trust, corporate and fund administration services.

The acquisition represents a significant milestone in Summit Group's growth strategy, marking the fifth acquisition since Sovereign's initial investment in December 2020. This latest transaction strengthens Summit Group's presence in the Channel Islands and establishes a scalable platform in the fund services market in Jersey, one of the key European jurisdictions for fund services alongside Ireland and Luxembourg.

Established in 1972, R&H Jersey is widely recognised as a highly reputable financial services firm with a strong track record in client service. The business provides private client, fund administration and tax advisory services to a diverse client base including corporates, high-net-worth individuals, families and asset managers.

With the addition of R&H Jersey's 190 employees and eight partners, Summit will comprise a global team of over 370 professionals across offices in Jersey, Guernsey, Switzerland, the UAE, the Cayman Islands, and the UK. The combined portfolio will encompass private wealth services, corporate services, fund administration, and support for tax matters.

Alex Hay, Partner, Sovereign Capital Partners, said: "The acquisition of R&H Jersey represents another strategic step in Summit Group's evolution to become a leading multi-jurisdictional fiduciary services provider. R&H Jersey is a rare asset of scale in the Channel Islands, and this acquisition perfectly aligns with our strategy of building a diversified, international platform dedicated to serving the evolving needs of ultra-high-net-worth clients globally."

Matt Claxton, CEO, Summit Group, said: "I’m thrilled to welcome R&H Jersey into the Summit Group. The Channel Islands are a key pillar of our international strategy, and this acquisition reinforces our commitment to growth both regionally and globally. R&H Jersey shares our client-first ethos, strong cultural values and reputation for service excellence. Together, we will create a platform that supports our clients’ evolving needs and unlocks exciting growth opportunities for our people."

Jen Geddes, Managing Partner, R&H Jersey, said: "Joining Summit Group allows us to combine our local expertise with Summit’s international scale and resources. Importantly, our clients will continue to work with the same trusted team whilst benefiting from the broad suite of services and jurisdictional access that Summit has to offer. We are looking forward to working with the Summit team and excited about the future."

The acquisition is subject to regulatory approval by the Jersey Financial Services Commission.