Palmer Street Limited in talks for acquisition by Marwyn

LONDON - Marwyn Acquisition Company III Limited (MAC III) announced Thursday it has entered into non-binding heads of terms regarding a potential acquisition of private capital administrator Palmer Street Limited.

Trading in MAC III shares has been suspended effective Thursday pending the outcome of discussions or, if a transaction is completed, until a readmission prospectus is published.

The proposed combination would involve MAC III acquiring 100 percent of Palmer’s issued share capital on a share-for-share basis. Palmer operates in Luxembourg, Jersey, Spain, and the UK, providing technology-led private capital administration services.

According to the announcement, the transaction would give Palmer immediate access to additional long-term investment capital to pursue strategic opportunities under the leadership of Palmer’s management team.

Any agreement would be subject to regulatory approvals from the UK Financial Conduct Authority, Luxembourg’s Commission de Surveillance du Secteur Financier, and the Jersey Financial Services Commission. The transaction would also require publication of a prospectus and agreement of financing.

The companies do not expect the transaction to complete until 2026 if it proceeds. Upon completion, MAC III is expected to adopt the Palmer brand.

Established in 2023, Palmer was created by its management team and Marwyn to provide differentiated services to the private funds market through a cloud-based administration technology platform.

MAC III was established by Marwyn, which is also the cornerstone investor in Palmer. Marwyn has previously launched over 15 UK listed companies that have collectively raised over £4 billion.

This announcement was made based on a press release statement from the company.

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