IK signs first deal in 2009

The European firm will purchase trust and asset structuring company Vistra in a "largely" equity deal of undisclosed size, with debt provided by Barclays and the vendors.

IK Investment Partners has agreed its first deal this year, the purchase of a majority stake in Vistra Group with a syndicate of investors including existing investor Reggeborgh Groep.

Financial details were not disclosed, though IK said in a statement the transaction “will be largely financed by equity provided by IK and management”. A spokeswoman said debt will be provided by Barclays and the vendors.

Vistra provides cross-border structuring solutions for wealth and asset management, such as the structuring of trusts.

IK said it will grow the Swiss company via add-on acquisitions.

“We expect the developments in the trust and corporate services sector to generate attractive opportunities for market consolidation,” said Kristiaan Nieuwenburg, partner at IK and head of the Benelux investment team.

The deal is the firm's first this year. Last year it was active with both investments and exits, most recently having sold Wehkamp, a major Dutch online retail company, in December to a group of private investors for just under €500 million.