Vistra Expands in Spain by Acquiring FraLucca
BARCELONA, Spain, March 10, 2014 /PRNewswire/ --
Vistra, a leading global provider of trust, corporate and fund administration services, today announced the acquisition of FraLucca. The acquisition strengthens Vistra's presence in Spain and increases its access to the fast-growing Latin American markets.
Founded in 2003, by Francisco López, FraLucca is an independent administrative services firm, which has built up a strong reputation in the Spanish market over the last 10 years, offering its clients a comprehensive range of services in the accounting, financial and tax management field. FraLucca's extensive knowledge and experience has enabled the company to rapidly become an important player in the Spanish market, where its recognized technical expertise and strong focus on customer service have proved very popular.
Commenting on the acquisition, Vistra Spain's Managing Director, Oscar García said: "We are delighted to welcome the skilled staff and the high profile network of FraLucca into the Vistra Group. By bringing both companies together, we will be able to further extend our existing service offerings in Spain. With a strengthened presence in Barcelona and Madrid we will also be in a strong position to better serve the Latin American market".
FraLucca founder Francisco López, adds, "We will be joining one of the fastest growing corporate services groups in the world, which will bring enhanced business opportunities to our existing clients. They will be able to benefit greatly from the broader range of services and the global reach of Vistra and its sister company, OIL. At the same time, our clients will find that they are still dealing with their existing contacts in the new and enlarged company, which will ensure business continuity. Our local staff will also benefit from the larger range of development opportunities which are likely within a growing and dynamic operating company."
The acquisition will bring Vistra's staff numbers in Spain to 26, with FraLucca expected to be rebranded under the Vistra umbrella during the first half of 2014.
The expanded Vistra Spain operation will be led by Managing Director Oscar García and Executive Director Victoria Oliver.
About the Vistra Group
Vistra is a global independent provider of trust, corporate and fund services. Our services include company formation and management, offshore incorporations, fund formation and administration, trustee services, family office, marine and aviation and accounting services. Vistra operates in 30 locations globally with a network spanning 21 jurisdictions. Clients can benefit from Vistra's multi-jurisdictional approach, delivered by a team of professionals with an in-depth understanding of the often complex needs of international clients.
Vistra is part of the OV Group, which includes Offshore Incorporations Limited Group (OIL), Asia's leading company formation specialist and Vistra. The OV Group employs some 750 professionals and is the 3rd biggest provider of trust and corporate services worldwide. For more information, please visit http://www.vistra.com.
FraLucca offers professional administrative and financial services to companies in Spain from start-ups to established corporations, SMEs and multinational subsidiaries, as well as to special vehicles and asset-holding companies. FraLucca was founded by Francisco López, who, before starting FraLucca, was an international partner of Andersen Consulting and Arthur Andersen for 15 years.
For further information, please contact:
Oscar Garcia, Managing Director
SOURCE Grupo Vistra