Acquisitions in Isle of Man

GapSat Development Group Limited (GapSat) has acquired QBX Limited, an Isle of Man-based satellite solutions and consulting services company. The acquisition adds QBX’s portfolio of satellite radio frequency spectrum assets, ITU orbital slot filings, and related intellectual property/patents to support development of a global geostationary satellite constellation for connectivity, including marine and aero-mobility use cases.

Horizon Capital will take a majority stake in Boston Multi Family Office (Boston MFO), an Isle of Man-based trust and fiduciary services business, in a transaction subject to regulatory approval. The deal provides a liquidity event for existing investor Rockpool Investments and management shareholders following Rockpool’s original investment via a management buyout in 2019. Horizon Capital will support Boston MFO’s management team in continuing organic growth and pursuing acquisitions.

Cinven has reached an agreement to acquire International Financial Group Limited (IFGL), a life insurance provider of cross-border, long-term savings products for internationally mobile clients. IFGL, which operates brands including RL360, Ardan International and Friends Provident International, is headquartered in the Isle of Man and has approximately £19 billion of assets under administration. Financial terms were not disclosed.

SGHC Limited ("Super Group"), parent of online betting and gaming brands Betway and Spin, closed its business combination with Sports Entertainment Acquisition Corporation (NYSE: SEAH). SEAH merged with and into Super Group, with Super Group as the surviving public company expected to trade on the NYSE under the ticker "SGHC".