Apex Group closes acquisition of Mainstream Group
Apex Group Ltd. (“Apex” or “the Group”), a global financial services provider, today announces the completion of the acquisition of Mainstream Group Holdings Limited (“Mainstream”) following approvals from Mainstream’s shareholders, the Federal Court of Australia and regulators.
Mainstream will now operate under the Apex brand, strengthening the Group’s global presence with the addition of over 360 employees across locations in Australia, Singapore, Hong Kong, United States, Isle of Man, Malta, Ireland and the Cayman Islands. Following the strategic acquisition of Mainstream, Apex now operates from 50 offices worldwide, with 5,000 employees servicing US$1.5 trillion in assets across administration, depositary, custody and under management.
As part of Apex, Mainstream will continue to provide fund administration and related services to over 1,400 funds and more than 189,000 investors with funds under administration in excess of AUD $295 billion. Mainstream’s acquisition by the Group will enable clients to benefit from Apex’s global footprint; accessing new markets through the Group’s globally connected operating model and single-source client offering.
This is the latest in a series of transformative acquisitions for Apex; upon completion of the planned acquisition of Sanne Group plc, Apex will service $2.2 trillion in assets across administration, custody, depositary and under management.
Peter Hughes, Founder and CEO of Apex Group comments: “We are pleased to welcome Mainstream to the Apex Group, which we believe provides the best platform for the company’s continued success and international expansion. This acquisition forms part of our strategy to continually enhance our single-source model, and significantly expands and deepens our service and product offering for clients across all geographies and aspects of their business.”
Martin Smith, CEO of Mainstream adds: ”We are excited to become part of the Apex Group and are enthusiastic about the opportunities it will provide Mainstream clients who can now access a wider suite of solutions through Apex’s global network. We share similar cultures and values and are confident of our future as part of the Group. I look forward to seeing the benefits that Apex’s successful integration will bring for our clients and employees in the years to come.”
Mainstream was advised by Miles Advisory Partners as financial adviser and Maddocks as legal adviser.
Macquarie Capital acted as financial adviser to Apex, with Herbert Smith Freehills providing legal support.
About Apex Group Ltd.
Apex Group Ltd., established in Bermuda in 2003, is a global financial services provider. With 50 offices worldwide and 5,000 employees upon the close of announced acquisitions, Apex delivers an extensive range of services to asset managers, capital markets, private clients and family offices. The Group has continually improved and evolved its capabilities to offer a single-source solution through establishing the broadest range of services in the industry; including fund services, digital onboarding and bank accounts, depositary, custody and super ManCo services, business services including HR and Payroll and a pioneering ESG Ratings and Advisory service for private companies.
About Mainstream Group Holdings
Mainstream Group Holdings Limited (ASX: MAI) provides fund administration services underpinned by investment in people, processes and technology. As at September 2021, the Group provides administration services to 1,474 funds and more than 189,000 investors with funds under administration in excess of AUD $296 billion. Mainstream employs 360 people, with operations in Australia, Singapore, Hong Kong, the United States, the Isle of Man, Malta, Ireland and the Cayman Islands.
For more information, please visit: https://www.mainstreamgroup.com.
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