WBS, a UK-based provider of dealing, custody and technology solutions to the investment industry, has been acquired by Epiris Fund III, advised by private equity firm Epiris LLP, from financial services group Marex Group plc. Financial terms were not disclosed.
The deal marks the start of a new phase for WBS, with Epiris’ backing expected to strengthen the company’s ability to grow and continue serving its client base.
The new board of WBS will be chaired by Chris Woodhouse, formerly chief executive of Evelyn Partners. Andrew Baddeley, former chief financial officer at Evelyn, has also joined as non-executive director and chair of the risk and audit committee. Both appointments are intended to support the delivery of WBS’ strategic objectives.
Alex Kerry will remain in post as chief executive, continuing to lead the business alongside its existing management team.
Founded in 2010, WBS has established itself as a prominent UK provider of dealing, custody and technology solutions for investment firms. Its proprietary EOS technology platform supports a number of the country’s leading wealth and retail investment platforms, among them Fidelity, Transact and Vanguard.
WBS operates as a business-to-business platform provider, offering integrated, bespoke end-to-end solutions designed to help clients manage regulatory and administrative challenges while meeting their investment objectives. The company has grown to oversee more than £26bn in assets under administration, with an expanding client base.
WBS CEO Alex Kerry said, “We’re delighted to embark on this new chapter for WBS and our clients. Throughout our history, our priority has always been to support our clients in delivering good customer outcomes and to help facilitate growth and long-term success. Our commitment to this remains unchanged.
“We’re particularly excited that as a stand-alone company, we’ll be able to really accelerate our growth, backed by investment from a partner who understands the business and its objectives. This will enable us to continue delivering market leading solutions, innovation and partnership our clients value and trust”
WBS board chairman Chris Woodhouse said, “I’m thrilled to being joining WBS at this significant milestone in their story. Alex and the team have built a strong market position, underpinned by talented people, a clear strategic focus, and a culture of delivering exceptional outcomes for our clients. With significant momentum behind it, and strong backing from its partners, WBS is well positioned to continue its growth trajectory and realise the substantial opportunities ahead. I look forward to working closely with the Alex, the Board and wider leadership team to support the next chapter of growth, innovation, and long-term value creation”
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