Lawyers from Carey Olsen in Guernsey and Jersey have advised Silverfleet Capital on the sale of Ipes, a provider of fund administration and other outsourced services in the private equity sector, to Apex Group.
Silverfleet Capital, a pan-European private equity firm, has owned Ipes since acquiring it from RJD Partners in 2013.
Headquartered in Guernsey, Ipes has 265 staff across five European offices. It works with 195 clients and provides administration and depositary oversight for 390 funds.
Working alongside onshore Counsel Travers Smith, the Carey Olsen team advising Silverfleet Capital was led by Corporate Partners Tom Carey in Guernsey and Guy Coltman in Jersey, with assistance from Counsel Carly Parrott, Senior Associates John Scanlan and Katherine Tresca, and Associate Kristina Mikhaylova.
The firm advised on all Guernsey and Jersey elements of the transaction, including corporate, regulatory, employment, competition and contractual due diligence, as well as providing strategic input into the structuring of the deal.
The deal is expected to generate a 3.8 times money multiple and 30 per cent internal rate of return for Silverfleet Capital once completion, which is subject to regulatory approval, takes place.