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Equiniti

Equiniti Group
Company typePrivate Limited Company
FORMER lse:EQN
ISINGB00BYWWHR75
IndustryFinancial services
Founded2007; 17 years ago (2007)
HeadquartersCrawley, England, UK[1]
Key people
Paul Lynam (Chief Executive Officer)
Revenue£555.7 million (2019)[2]
£55.9 million (2019)[2]
£32.4 million (2019)[2]
Websitewww.equiniti.com

Equiniti Group is a British-based outsourcing business focused on financial and administration services.

History

The business has its origins in the share registration business of Lloyds TSB which was bought out from Lloyds by Advent International, a private equity institution, in 2007.[3] The company was the subject of an initial public offering in October 2015.[4] In July 2017 it announced the acquisition of the share registration business of Wells Fargo.[5]

On 30 July 2020, the company announced its intention to rebrand as "EQ".[6] In April 2021 Siris Capital made an offer worth £661 million for the company.[7] The transaction was completed on 10 December 2021.[8]

Operations

The company's services include share registration arrangements for listed companies, outsourcing of complaints management and administration and payment services for pension schemes.[9]

Equiniti India

Equiniti India, Equiniti's Indian offshore arm, opened in Chennai in 2014. An additional branch office opened in Bengaluru in 2019.[10]

References

  1. ^ "Equiniti". Companies House. Retrieved 29 April 2021.
  2. ^ a b c "Annual Results 2019" (PDF). Eqiniti Group. Retrieved 12 March 2020.
  3. ^ "Equiniti to raise £390m in flotation". Yorkshire Post. 2 October 2015. Retrieved 13 September 2017.
  4. ^ "Equiniti announces IPO plans". Investors Chronicle. 8 October 2015. Retrieved 13 September 2017.
  5. ^ "Equiniti buys Wells Fargo's share registration arm for $227m". FT. 12 July 2017. Retrieved 13 September 2017.
  6. ^ "To represent our journey to a more purposeful organisation, Equiniti is becoming EQ". Equiniti Group. 30 July 2020. Retrieved 30 July 2020.
  7. ^ "Equiniti receives sweetened £661m takeover bid from US private equity firm". City AM. 28 April 2021. Retrieved 29 April 2021.
  8. ^ "Equiniti exits London market following completion of takeover by Siris". Morning Star. 10 December 2021. Retrieved 15 December 2021.
  9. ^ "Equiniti". Hargreaves Landsdown. Retrieved 13 September 2017.
  10. ^ "UK-India celebrate Tech Partnership at FutureTech Fest". gov.uk. 13 December 2018. Retrieved 16 May 2019.
Retrieved from "https://en.Wik.ipedia.Pro.org/w/index.php?title=Equiniti&oldid=1198242827"

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