Fidence group is expanding its international corporate and fiduciary services business with the acquisition of Mauritius-based MITCO Group through its wholly owned subsidiary, Hoche Partners Corporate Services (HPCS). The deal, announced Thursday, brings MITCO into a group backed by Amethis Advisory, a private equity investment platform focused on Europe, the Middle East and Africa.For Fidence, the acquisition strengthens its presence in Mauritius while adding to its ability to serve clients whose businesses and investment structures span several jurisdictions.
MITCO has been licensed in Mauritius since 1993 and has built a long-standing business serving corporates, institutional investors, investment funds and private clients across multiple markets.Its services include corporate structuring, fiduciary services and fund administration, supported by teams with established expertise in Mauritius. Fidence said the acquisition will broaden its international reach and strengthen its capacity to handle more complex cross-border structures.
Mauritius as a gateway to Africa and Asia
The CEO of Fidence, Cornelius Bechtel described the transaction as an important milestone in the group’s international expansion, pointing to Mauritius’ position as a financial centre connecting several major investment markets. “The acquisition of MITCO is a defining step in Fidence’s international development. Mauritius is one of the world’s leading financial centres, connecting the UAE, Africa and Asia and serving as a gateway to and from the key investment markets of the future.” Cornelius also welcomed the decision by Mahen Govinda, the CEO of MITCO, to join Fidence’s shareholder base. “His decision to invest alongside us reflects a shared long-term vision and strengthens the alignment within the partnership that leads our group,” he said.
Despite the change in ownership, MITCO is expected to continue operating under its existing governance, risk and compliance framework. Its management teams, client relationships and service model will remain in place. For Mahen Govinda, the transaction provides an opportunity to build on MITCO’s existing platform while gaining access to Fidence’s wider international network. “MITCO has built a solid platform over the years. Joining Fidence allows us to build on that foundation while benefiting from additional scale and complementary capabilities across jurisdictions while preserving the institutional culture and fiduciary discipline that define our group,” Mahen said.
MITCO enters its next chapter
The transaction follows a structured ownership transition involving CIEL Finance and K-Force Ltd. MITCO was previously part of the CIEL Finance portfolio, during which time it expanded its capabilities and strengthened its position in Mauritius’ corporate and fiduciary services sector. CIEL Finance CEO Lakshman Bheenick said the sale was consistent with the investment arm’s approach to managing its portfolio and allocating capital. “MITCO has evolved into a well-established and resilient business. This transition reflects our disciplined approach to portfolio management and positions the company well for its next phase of development.” Lakshman Bheenick also added CIEL Finance was confident about the company’s prospects under its new ownership. “We are confident that MITCO will continue to develop successfully within its new shareholder framework,” he said. MITCO will continue to operate from Mauritius, retaining its established presence in the country while drawing on Fidence’s wider international network.
About Fidence Group
Fidence (formerly Hoche Partners Corporate Services) was founded in 2005 to support companies and investors in selling, acquiring and financing assets. The firm is a growing independent global service provider of corporate solutions, offering a broad range of accounting, administrative, legal, corporate secretarial and support services to corporate, institutional and high-net-worth clients around the world. Created in March 2025 through the merger of Hoche Partners Corporate Services and Paddock Corporate Services, and backed by Amethis, Fidence operates across Luxembourg, France, Morocco, Dubai, Geneva and, with this transaction, Mauritius and the Seychelles.
About MITCO
MITCO is a corporate, fiduciary and fund services group licensed in Mauritius since 1993. The company provides corporate structuring, fiduciary services, fund administration and regulatory support to a global client base.
About CIEL Finance
CIEL Finance is the financial services and investment arm of CIEL Group. It invests with a disciplined long-term approach, supporting value creation through strong governance and responsible stewardship of capital, while maintaining a strong focus on transparency and robust risk
