Luxembourg-based IQ-EQ, an Astorg portfolio company, is to acquire the AMAL Group, a provider of Corporate Trust, Agency Services and Loan Servicing solutions with operations in Australia and New Zealand.
The acquisition for an undisclosed sum is subject to regulatory approval from the Foreign Investment Review Board (FIRB) in Australia.
The acquisition takes place against the backdrop of accelerated growth in Australia’s corporate trust market due to strong continued year on year double digit growth in the securitisation market driven by regional growth in the non-bank lender (non-ADIs) market.
Commenting on the announcement, Mark Pesco, Group Chief Executive Officer at IQ-EQ said: “This investment marks a significant milestone in our global expansion strategy, with an exciting opportunity to secure an important presence in two key new markets and take ownership of a leading corporate trustee, agency services and administration business.”
