Isle of Man-based Boston Multi Family Office has completed the acquisition of family office and fiduciary business Aqua Group.

Boston said that the deal to purchase Aqua Group, which is based in Jersey, Malta and the UK, would expand its operations to the Channel Islands and the UK, alongside bolstering its presence in Malta.

The transaction marks the latest of several acquisitions by Boston as it looks to bring in additional expertise and experience, as well as a broader client base and access to a wider market.

Aqua Group was founded in 2012, with the family office business aiming to help families and their businesses achieve their financial expectations.

Mazars provided financial due diligence and corporate advisory services on the transaction, while CMS and Walkers provided legal services and KPMG provided regulatory due diligence.

Commenting on the acquisition, Boston CEO, Katherine Ellis, said the deal was “another exciting opportunity” for both the business and its clients.

“It was clear from the beginning of our negotiations that Aqua Group had a similar outlook to our own,” Ellis continued.

“We have both shared a focus on building excellent long-term relationships with our clients, working with families and businesses that often have complex, multi-generational and multi-jurisdictional requirements.

“In addition to broadening our scope of operations, the acquisition will allow us to benefit from the expertise and experience of the well-established Aqua team who will bring additional knowledge and connections to the business.

“We have already enjoyed getting to know them over the past few months as we have worked through the acquisition process together and we look forward to joining forces to provide our newly combined expanded clientele with the superb level of service they have come to rely on.

“I would like to thank our investors at Horizon Capital for their continued support.”

Aqua Group founder, Jo Luce, added: “It has been a pleasure to work with Katherine and her team at Boston to bring these two businesses together.

“With our shared values and our shared dedication to excellence in client service delivery, it is obvious there will be many benefits from this deal, not only for our clients and their advisors who will have access to greater commercial expertise and cross-border experience, but also to our staff who will have increased opportunities for professional development and exposure to different markets.

“I have been impressed by the professionalism and friendliness of everyone at Boston and I am confident that this deal further strengthens Boston’s place in the market, facilitating future growth and aligning to the strategic direction set out for the business.”

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