Boston Multi Family Office has acquired the Isle of Man fiduciary business of Turnstone.

Turnstone co-founder Roelf Odendaal and his fiduciary team will all join the family office.

He co-founded the Turnstone Group with wife Kirsten and brother Keinrich in 2001.

Mr Odendaal said: “It has always been a passion of ours to help families build and create a legacy that reflects their identity and the values that they hold.

“We see that same commitment at Boston and I am sure that, by joining forces, our clients will benefit from the combined expertise and enthusiasm of our hardworking and dedicated staff.”

Boston Multi Family Office is one of the Isle of Man's largest trust and fiduciary businesses. It was founded in 2002 and held privately until 2019. It provides boutique trust, corporate and fiduciary services to family offices.

Boston has offices in the Isle of Man and Malta.

The acquisition is the third by Boston since its management buyout in 2019 by CEO Katherine Ellis and M&A director Alex McNee.

Ms Ellis said: “We are delighted to acquire the fiduciary business from Turnstone (Isle of Man) Limited. Turnstone is known for its commitment to wealth protection, family succession planning and building strong relationships with clients so its business is an excellent fit for our strategic growth plans.

“Having Roelf and his professional team on board will ensure continuity for Turnstone’s clients. They will also bring with them a great deal of experience and knowledge that will be valuable to the wider Boston group.”

The acquisition, for an undisclosed sum, is being financed by Horizon Capital as part of Boston's plans to make acquisitions in the private client sector.