DTE Corporate Finance advise the shareholders on sale of a significant minority stake in Prospero Holdings Ltd
23 August 2016
DTE Corporate Finance are please to announce that they advised the Shareholders on the sale of a significant minority stake in Prospero Holdings Limited (“Prospero”) to Bailiwick Investments Limited (“Bailiwick”) for an undisclosed sum.
Prospero is an established supplier of integrated facilities management and fit-out services to blue chip clients, primarily based in the offshore jurisdictions of the Isle of Man, Jersey and Guernsey.
Established in 2004 in the Isle of Man, the initial focus of Prospero was on air conditioning and electrical services. Over the years the business expanded its offering to become a total facilities provider for its customers. In 2013, Prospero opened offices in Jersey and Guernsey, making it the only facilities management business to have a presence in all three offshore jurisdictions. The business now boasts several pan-island contacts and employs over 70 staff.
Prospero aims to become the leading total facilities management services provider for the offshore jurisdictions. It will achieve this through expanding its offering, in particularly its soft facilities management services, and through entering new markets.
Bailiwick is a Channel Islands-based closed-ended investment company that is managed by Ravenscroft, an independently owned investment services group based in the Channel Islands which has £2.38bn of assets under management.
Founder and Managing Director of Prospero, James Pettigrew, said he was delighted that Bailiwick Investments Limited had recognised the potential of the group and commented; “I’m very excited about what the future holds for the company and our staff. This gives us a huge springboard to enhance our offering across the Channel Islands and the Isle of Man and will provide many opportunities for further growth. Bailiwick Investments is a perfect fit for us and I’m sure some very exciting times lie ahead.”
Matt Beckley of DTE Corporate Finance advised on the transaction and congratulates James and his team for securing the partnership to aid future growth opportunities.
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