Vistra Group, the Hong Kong-based corporate services, trust, fiduciary, private office and fund administration services provider, has acquired Dublin-based Squires Gilbride Chartered Accountants & Advisors, as it continues to grow its international business.
The purchase price and other details of the acquisition weren’t given.
Located in central Dublin, Squires Gilbride looks after local as well as international companies, according to a statement announcing the Vistra purchase. Squires Gilbride was created in 2016 by the merger of two well-established businesses, Squires & Co and Gilbride.
Vistra said in the statement that the 25-partner strong Squires Gilbride team, headed up by partners Peter Squires, Neil Squires and Oisin Gilbride, will remain unchanged under Vistra’s ownership, while giving Vistra an expanded presence in the Irish marketplace.
Vincent Bremmer, group managing director of international expansion at Vistra, noted that Ireland has recently become “a key jurisdiction for inward investment”, ranking in 215 as the third-largest recipient of such investment, and that this trend is continuing and is expected to do so. Dublin is one of a number of European cities expected to benefit from the UK’s pending departure from the European Union, as businesses look to set up outposts in European financial centres to continue to take advantage of certain EU trading facilities.
Vistra – which merged with a Hong Kong-based corporate formation specialist named OIL in 2011 that re-branded as Vistra last February – has been expanding its geographic footprint rapidly over the past few years.
As reported, it opened its first-ever office in Sweden last month, which also represented its first Nordic market outpost, as it prepared to cater for what it said were “outbound business opportunities” seen to exist there.
Last year it acquired at least four businesses, and thus expanded its reach, in Australia, India, Monaco and Dubai; and in September, it acquired Deutsche Bank’s global corporate services business.