CSC acquires Australian corporate loan agency Eddystone
WILMINGTON – The business services giant CSC has made its first major deal since closing its billion-dollar acquisition on Intertrust, adding an Australian corporate loan agency.
CSC, a private company that provides business, legal, tax, and digital brand services, closed an acquisition of Eddystone Financial Services on June 15, making further inroads on the South Pacific continent. Eddystone provides facility agent, security trustee, escrow, and related financial services from offices in Sydney and Brisbane, Australia, and Auckland, New Zealand.
In November, CSC closed the $2 billion deal for publicly traded Intertrust, doubling its headcount and making its operations truly global, with workers available every hour of the day. The terms of the deal for Eddystone, a private firm, were not disclosed.
It follows a previous exclusive partnership between Delaware Trust Company, a wholly owned CSC subsidiary, and Eddystone Financial Services to expand corporate trust and agency solutions in the Australian and New Zealand markets. The transaction will enable CSC to further increase its range of loan agency service offerings and significantly expand its footprint in Australasia.
“This is an exciting time for CSC as we continue to grow and strengthen our position in the global loan agency industry, and we welcome Eddystone Financial Services and its team into the fold,” John Hebert, president of CSC Global Capital Markets and president and CEO of Delaware Trust, said in a statement announcing the deal. “The Australian loan agency market has experienced significant growth in recent years. This acquisition aligns with our strategic goals and will enable us to better serve our clients with expanded capabilities and expertise in the market, strengthening our independent, client-first approach. We’re committed to providing our stakeholders with the highest level of service and look forward to the opportunities this new chapter will bring.”
Barnaby Webb, managing director and founder of Eddystone, said his firm was pleased to find a partner in CSC.
“Eddystone has managed to find a company whose values align with our own and we look forward to growing together with a now truly global offering,” he said in a statement.