Two leading resort trustee firms today announced a major consolidation within the industry as FNTC (UK) Limited (“FNTC”) acquired Continental Trustees Limited (“Continental”).
FNTC controls over £2.5 billion of property assets on behalf of its clients and provides a range of support services within the Leisure Industry. Through its services FNTC looks after the interests of over 650,000 consumers within shared ownership and vacation ownership schemes, as well as resort merchant and payment processing services through its CardScape platform. FNTC is part of the First Names Group, a rapidly expanding provider of independent trust, fund and corporate administration services with over 650 employees worldwide.
Continental was founded in 1995 and has 20 years’ experience in the provision of trustee, escrow, and collection services for a number of resorts, principally across the UK and Europe.
The acquisition of Continental enables FNTC to strengthen its position as the largest specialist trustee in the holiday ownership and fractional ownership market. The combined business will continue to focus on the global leisure business.
Declan Kenny CEO of FNTC said;
“The combined expertise allows FNTC to consolidate its business within Europe, and to remain focused on its operations in the USA and Asia which service the Leisure Industry and expand its merchant services proposition – CardScape, the only multi-currency card processing solution specifically targeted at the holiday ownership and fractional industry. We are delighted to announce the acquisition. I welcome Mike Murphy as a member of the FNTC management team as Operations Director and I look forward to engaging with Continental’s clients in the near future”.