Apex Group has completed its acquisition of Sanne Group.
The close of the deal positions Apex as a top-tier independent service provider, servicing nearly $3trn in assets across administration, depositary, custody and under management.
The addition of Sanne brings another 2,500 people into the group and six new locations in Denmark, Japan, Serbia, South Africa, Spain and Sweden. Apex now operates from more than 80 offices in more than 40 markets, with over 10,000 employees.
The addition of Sanne adds product and experience in serving the closed-ended private equity, private debt, capital markets, loan agency, and real assets markets, as well as expanding footprint in the US, central Europe, Africa and APAC.
This is the latest – and largest - in a series of 31 global acquisitions for Apex, including the recent additions of MMC Group, ASX-listed Mainstream Group and the announced acquisition of Maitland.
Peter Hughes, Founder and CEO of Apex Group, commented: “With today’s announcement we have reached an inflection point in Apex Group’s story, as we become one of the largest providers in our space.”
Martin Schnaier (pictured), Chief Executive Officer at Sanne Group, added: “The strong performance in the first half of 2022 is testament to Sanne’s strengths and market reputation as we have seen record levels of new business wins and organic growth return to our targeted double-digit levels.
"It also reflects the qualities recognised by Apex Group in acquiring the business and it should ensure this transformational combination creates a leading, end-to-end service provider to the alternative assets market.
"As we look forward to joining Apex Group, we are confident in the benefits this deal should bring for our clients and our people across the globe.”
Jefferies and JP Morgan Cazenove advised Sanne on the acquisition; Merrill Lynch International, NM Rothschild & Sons and Deutsche Bank acted as joint financial advisers to Apex Group.
Addleshaw Goddard and Carey Olsen Jersey acted as legal advisers to Sanne; Kirkland & Ellis International acted as legal adviser to Apex Group.