Award shortlisted Arc set to be sold
ONE of the island's most enterprising companies is set to sell a majority stake to new North American owners.
Asset Risk Consultants was formed in 1995 and employs 43 staff in Guernsey and nine in Jersey in investment research and consulting for trustees, private clients and their advisers.
The business has been growing recently and enhancing its public profile, plus it has been shortlisted for the Commerce and Employment Business of the Year award for next month's award ceremony.
It took the unusual step of revealing it is in 'advanced negotiations' with affiliates of Canada's Labatt family on a deal, which will see senior staff retain a significant equity stake.
A spokesman for Arc said that issuing the statement allowed for more clarity in contacts with clients. Regulatory permissions are being sought and the deal should go through within a few months.
He added that the business would continue to be based in Guernsey and operate with a great deal of autonomy. Business and global reach is expected to spread – though Arc already has clients in Europe, UK, the Caribbean and Canada, including Labatt – and expansion is expected.
'This represents an extremely exciting development for Arc, providing a secure capital base to underpin our ambitious expansion plans without compromising our independence, which we know is essential for our clients,' said Graham Harrison, co-founder and group managing director of Arc, pictured.
