Vistra provides a full range of administrative solutions for corporate structuring and for wealth protection. Through the combination of an unique set of skills in the field of taxation, law and accounting, Vistra is able to address the various needs of its clients, who include large international corporations, high net worth individuals and institutional investors from around the world.

The trust and corporate services industry is currently undergoing fundamental change with increasing professionalism, consolidation and globalisation as key trends in response to increasing regulatory requirements and cross-border client needs. IK believes that Vistra is very well positioned to capitalise on these trends. Vistra is one of the leading players in the industry with a strong and growing foothold in key jurisdictions worldwide, and is led by a highly entrepreneurial and experienced management team.

Vistra was founded in 2006 through the buy-in of the private client business of Chiltern in London and Jersey by the former top management team of Fortis Intertrust. Soon afterwards, additional offices were opened, including Amsterdam and Geneva. Further expansion came in 2007, with the acquisition of Benelux Trust in Luxembourg and Monterey Group in the Netherlands and Curaçao. In 2008, Vistra acquired ACSA, a corporate services provider in Cyprus and in 2009 Vistra expanded into Asia, opening a new office in Hong Kong. Today, Vistra is a fully integrated company with a network of offices in 12 jurisdictions, serving its clients with cross border solutions including trustee and fiduciary services, corporate services, business services and outsourcing, specialised services and fund services.

This transaction marks the next stage of Vistra’s ongoing development. As a private equity firm with an active ownership strategy, IK intends to fully support management with funds and hands on assistance in further growing the company through an active buy-and-build strategy.

Kristiaan Nieuwenburg, Partner at IK and head of the Benelux investment team commented: “We expect the developments in the trust and corporate services sector to generate attractive opportunities for market consolidation. We are excited to back Vistra’s entrepreneurial management team, who have successfully created a well positioned platform to participate in this consolidation process.”

Bart Deconinck, CEO of Vistra Group commented: “We want to thank Reggeborgh Groep and our other investors for their support and belief in us right at the start. We are very excited to have IK on board as a new shareholder and partner who will support us in the next steps of our development. Building on our past experiences, we will focus on applying our successful buy-and-build strategy to further capitalise on the growth opportunities in our industry by entering into new geographies and expanding into new service areas. Our long-lasting client relationships will not undergo any changes and the whole team will continue to provide the same services as in the past, benefiting from the support and international reach of IK.”

Advisors to IK are ING Corporate Finance (M&A), Allen & Overy (legal), PwC (accounting & commercial), Deloitte (tax), Marsh (insurance). Advisors to Vistra’s shareholders were Wyvern Partners (M&A), Jones Day (legal), Houthoff Buruma (legal).[/private]

“We are pleased to have Jamie Byington, Joel Chrycy, Larry Fletcher and Michael Weinstein as part of our firm,” said Paul Fedorkowicz, partner-in-charge. “The talent and expertise within MPCF builds upon CB&H’s already strong foundation, expanding our solid reputation as industry experts and providers of specialized services in the region.”

About Cherry, Bekaert & Holland, L.L.P
For more than 60 years, Cherry, Bekaert & Holland, L.L.P. (CB&H) has provided high-quality financial and management services to a diverse and successful client base. As an innovative and highly professional certified public accounting (CPA) and consulting firm, CB&H serves as a valued advisor to more than 25,000 clients by providing guidance on important operational and individual matters. Ranked among the top 30 accounting firms in the nation, CB&H is uniquely positioned to impart quality, cost-effective and practical advice to clients that include multinational corporations, private businesses, nonprofit organizations, governmental entities, emerging or startup firms and successful individuals. As one of the largest regional CPA firms headquartered in the Southeast, CB&H’s resource network stretches across six states: Alabama, Florida, Georgia, North Carolina, South Carolina and Virginia, and nationally and internationally through an alliance with Baker Tilly International Limited, an association of independent accounting and consulting firms.

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MorleyandScott, based on Solent Business Park, are specialists in both corporate and private finance. Their acquisition of Chandlers Ford-based CeKim, offering specialist taxation advice to high net worth individuals, has been spearheaded to enhance the service that both firms offer their clients.

CeKim was established more than a decade ago and in that time co-founders, Celia Clements and Kim Holmes, have established a substantial and prestigious portfolio of private tax clients who they will continue to work with complemented by the team at MorleyandScott.

On the acquisition Kim commented: “We were really impressed with MorleyandScott’s emphasis on providing not only a highly professional service but also a personal one – this is the same ethos we had built CeKim Associates on.”

Celia added: “We’re confident that together we can continue to deliver first class tax advice backed by the strength and breadth offered by a practice with specialist teams in the full gamut of disciplines. The objective is for the clients of both firms to benefit from the move and we’re all very excited at the opportunities it presents.

MorleyandScott partner Adrian Price said: “We’ve been looking to boost our private client portfolio for some time and the opportunity with CeKim Associates seemed like the perfect fit. The addition of Celia and Kim significantly boosts our specialist private client offering.”

The acquisition, which comes into immediate effect, sees Celia and Kim move to MorleyandScott’s Solent office in Hampshire joining the 38-strong team.[/private]

The acquisition, completed on Aug. 27, will enhance Jefferson Wells’ rapidly growing tax practice by expanding its services and capabilities in the highly technical arena of State and Local Tax.

“Jefferson Wells is in a unique position to enhance our clients’ tax functions with The Gelber Organization’s deep expertise and talent, extending our services and expanding our ability to meet the growing client demand for State and Local Tax consulting,” said Michael Touhey, president and chief operating officer of Jefferson Wells. “We are excited to have the Gelber team join our global tax practice.”

The Gelber Organization is a tax-services firm located in Edison, N.J., with experience in a full range of State and Local Tax consulting services. The organization’s expanded capabilities and expertise, including sales and use recovery, state income tax controversy and audit defense, will be featured in Jefferson Wells’ new State and Local Tax Center of Expertise.

“By joining Jefferson Wells’ global network of highly experienced professionals, resources and service offerings, this move allows us to better serve our clients,” said Arthur Gelber, president of The Gelber Organization. “Jefferson Wells is a well-respected firm, and its professionals are highly regarded in the community, making it an excellent fit for The Gelber Organization’s strong client focus.”

In conjunction with the acquisition of The Gelber Organization, Jefferson Wells is formally establishing its third Tax Center of Expertise, which will focus on client needs in the State and Local Tax area. This new Center of Expertise complements the two existing Centers of Expertise, which are focused on Transfer Pricing and Tax Accounting Automation. Myron Vansickel, currently the tax director of the firm’s Capital Region office, will lead the new State and Local Tax Center of Expertise.

Paul Sassano, global practice leader of Jefferson Wells’ Tax Practice, said, “The addition of The Gelber Organization’s personnel, and the formation of our newest Center of Expertise, provides our clients with a full suite of compliance and specialty tax services. I am very excited to offer our clients the strength and talent of our combined abilities.”

Synergia was established in 2001 as a network of independent tax and consulting firms, employing 306 staff in 15 offices throughout Italy, with two head offices in Milan and Turin, Italy’s main business centres. In addition to its tax advisory and compliance services, Synergia offers general management advisory, accountancy and bookkeeping, corporate finance (M&A, group restructuring, set up of real estate equity funds etc), re-organisation and bankruptcy services and statutory appointments and assignments.

Marcello Rabbia, partner of Synergia’s Studio Palea office, leading the international activity together with Francesco Gerla, partner of Synergia’s Studio Gerla office, jointly commented: “Working with RSM’s member firms, Synergia is well positioned to advise and support our clients, and those of other RSM member firms with business needs in Italy, in all areas of international tax and compliance. These services naturally complement those offered by RSM Italy S.p.A. We have a very close relationship with them which will continue to thrive through our joint membership of RSM International.”

Andrew Lines will be the partner in charge of the Southampton private client business, a new position at the office. His Lines Wilson partner Karen Wilson will be working on share schemes work. The Head of Tax at the BDO Southampton office is Stuart Lisle.

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The acquisition of Shaw Tax marks another step in line with the Group’s strategy to extend its professional services offering. It follows the acquisition, in May 2007, of Stellar Financial Services which provides specialised fiscal structuring and investigations consultancy advice. As a result of these acquisitions, together with organic growth, the Group now derives fee income of £5m per annum from tax consultancy services.

Shaw Tax was founded in 1992 by Andrew Shaw and has developed significantly over recent years through a combination of organic growth and acquisition. Its 48-strong team specialises in the provision of corporate and personal taxation services including consultancy, compliance, wealth management and trustee services. It has an extensive referral base of general practice accountants and lawyers who use the firm to help meet their client’s needs.

The business operates from Birmingham, with offices in London, and it will be integrated with the Group’s existing tax consultancy, which is based in Manchester.

Ric Traynor, Executive Chairman, commented:

“The acquisition of Shaw Tax extends the Group’s penetration of the tax consultancy market and broadens our service offering considerably. We look forward to growing the business as part of the Group and to driving cross referral opportunities from our professional contact base.“

As the largest independent tax advisory firm in the UK and a leading provider of specialist tax services to smaller accountants and legal practices, Chiltern has particular expertise in:

* Private Client Services
* Tax Investigations
* PAYE
* Remuneration Consulting
* VAT
* Corporate Tax Services.

With revenues in the region of over £20m per annum, Chiltern has a strong core client base of corporates and high net worth individuals.

Paul Eagland, Head of Tax at BDO Stoy Hayward, commented: “We are delighted to announce this strategic acquisition today. The professional staff joining us will range from trainees to highly experienced tax consultants. They are all technically skilled and client focused practitioners and we look forward to welcoming them on board and working with them in the future.”

In the short term the Chiltern staff will remain at their Paddington office, and will continue to trade under the Chiltern brand. In due course, the staff will relocate to BDO Stoy Hayward’s new London offices at number 55 Baker Street in the early part of next year.

John Willmott, Executive Chairman of Chiltern plc commented: “We are excited at the opportunity of joining BDO Stoy Hayward and providing our tax expertise to the wide range of its clients. In addition many of our clients will benefit from the non tax services provided by BDO Stoy Hayward such as corporate finance and management consultancy. Together the two firms make a uniquely powerful tax driven client service organisation.”