TMF To Acquire Provider Of Family Office Structures, Funds

Tom Burroughes

7 August 2017

Gentoo, a Guernsey/Luxembourg-based firm created six years ago to handle the spin-out of the former SG Hambros corporate trust business, is to be sold to TMF, the international provider of tax, human resources, family business wealth, and other services.

The sale is expected to be complete in the final quarter of this year, following regulatory approvals, statement from Gentoo said.

The business was backed by Disruptive Capital Finance in 2011. After a period of growth, which included the purchase of a Luxembourg business to add to the Guernsey headquarters, agreement has been reached for the sale of Gentoo to the international group, TMF, it said.

"We have built up the Gentoo team, with whom we have worked hard to create five years of strong trading growth, based on providing the highest quality service to our clients. We will now be able to return capital to our backers, whilst at the same time ensuring a robust and stable business going forward," Christine Whitehorne, co-founder of Gentoo, said.

Edi Truell, chairman at DCF, said: “We have been very pleased with Gentoo’s progress. Indeed, in our 24 year private equity investment history, we have had few investments be as reliably successful as Gentoo, producing an anticipated 15x return on our investment.”