HONG KONG, April 26, 2018 /PRNewswire/ -- Vistra, one of the world's leading providers of international incorporations, trust, fiduciary, private office and fund administration services, today announced it has entered an agreement to acquire Radius, a specialist US-based provider of international expansion services. Vistra is acquiring Radius from the private equity firm Hg.
The transaction doubles Vistra's International Expansion Services (IES) business, making it a market leader in IES services, including the number one market position in the USA. Vistra's IES business helps clients navigate expansion into new markets, including establishing offices, obtaining the necessary licensing to operate in foreign markets and ongoing services, such as compliance and payroll.
Radius, headquartered in Boston with offices across the United States and in the United Kingdom, India, China, Singapore, Brazil and the Netherlands, provides managed services, advisory services and OverseasConnect, its integrated cloud-based software platform, to more than 500 clients operating in 80 countries. The firm has 880 employees globally. Radius is led by CEO Stephen M. Chipman, who will become the Group Managing Director of Vistra's IES business.
Following the acquisition, Vistra will have a global IES team of 1,300 employees and a support network of over 3,300 staff, operating in over 70 offices and 40 jurisdictions.
Martin Crawford, CEO of Vistra, said: "The Radius team has developed a highly successful global business, which is a natural fit with Vistra's IES operations. Joining forces means our clients will have the highest quality people, technology and processes to help them grow with confidence when they are expanding internationally. We are delighted to welcome Stephen and his team to the Vistra family."
Stephen Chipman, CEO of Radius, said: "The combination of Vistra and Radius creates a leading global provider of quality international expansion services. Vistra is the ideal partner for Radius given our values and culture align so closely. We are excited about the future opportunities for our clients and employees."
Radius will be rebranded under the Vistra brand following completion of the transaction.
Martin Crawford, Chief Executive Officer of Vistra, joined the OIL Group as CEO in 2009, and led the successful merger of OIL with Vistra in 2011. As the CEO, Martin leads the firm towards its aspiration to become the 'best in breed' among the global players in terms of client opinion and as a place to work. He is involved in managing the financial performance of the Group, the interactions with our majority shareholder and the setting and execution of the Group's strategy, with a specific focus on building relationships with strategic clients and M&A projects.
Stephen Chipman, Chief Executive Officer of Radius, is a recognized global leader and experienced CEO with a lifelong passion for international business and successful global growth. Before joining Radius, Stephen capped his 34-year career with Grant Thornton as CEO in the U.S. where he led the $1.5 billion firm through the post financial crisis period, returning it to growth with double-digit increases in revenue and profitability. Prior to this role, Stephen was CEO of Grant Thornton in China where he headed the restructuring of start-up operations to create a national firm with more than 2,500 people in 17 offices. A U.S. and British citizen, Stephen is a certified public accountant in Illinois and Texas as well as a chartered accountant in England and Wales. He is based in the Radius Boston, MA headquarters.
Ranked in the top four corporate service providers globally, Vistra is a versatile group of professionals, providing a uniquely broad range of services and solutions. Our capabilities span across company formations to trust, fiduciary, private client services, and fund administration. Vistra employs over 3,300 employees across over 40 jurisdictions.
For more information, please visit www.vistra.com
SOURCE Vistra Group