STM Group's operations cover offshore trust and company management services, management services for insurance companies, and cross border tax planning services. It plans to consolidate the corporate and trustee service provider (CTSP) market. CTSP's have fixed annual fees plus hourly rates for additional work. This means it is a cash generative business with much of the revenue received in advance. The businesses are generally based in areas such as Gibraltar, Channel Islands, British Virgin Islands and the Isle of Man. There are thought to be around 500 firms engaged in these activities. STM believes that many owner managers are coming up to retirement age and will want to sell their businesses and increasing regulation and compliance are putting pressure on smaller businesses in the sector. STM floated at the end of March 2007 at 50p a share.