Apex Group has acquired Greenough Consulting Group (GCG), a provider of finance, accounting, and human resources services to technology companies, venture capital and private equity funds.
The acquisition is set to further strengthen Apex’s position in the US market and enhance its ability to deliver high quality service to clients of all sizes, via locally based experts.
The addition of the GCG business broadens Apex’s existing presence in North America through the addition of an office in Burlingame, CA and over 50 employees, increasing the group’s Americas headcount to nearly 600 people.
For over two decades GCG has served over 800 clients, consisting of more than 200 venture capital and alternative investment funds, and more than 600 rapidly growing tech companies.
GCG’s client base is evenly split between start-ups or mid market corporates, and venture capital or private equity funds.
The deal combines two businesses with a common focus on innovation, and meeting or exceeding clients’ needs.
GCG’s clients are set to benefit from the group’s global, cross-jurisdictional reach and range of additional services including digital banking, global compliance solutions and environmental, social and governance (ESG) ratings and advisory.
This acquisition continues Apex Group’s growth momentum and is the eighth deal announced by the group in the fiscal year 2021.
Earlier in 2021, Apex acquired GFin Corporate Services, digital marketing platform Senasen, and Tzur Management.
Peter Hughes, founder and CEO of Apex Group, comments: “Growth across the Americas is a strategic priority for us and GCG is a natural fit for our business having demonstrated a commitment to innovation, and a strong track-record in client satisfaction which has parity with our own priorities.”
Mark M. Greenough, chairman and founder, Greenough Consulting Group, adds: “As part of the Apex Group, our clients will continue to benefit from proximity to the funding community and the opportunities which come from GCG becoming part of a respected financial services provider with a global presence and focus on driving change and innovation to better support their clients.”
Terms of the transaction are undisclosed. A&M acted as financial and tax advisor, and Kirkland & Ellis provided legal counsel to Apex Group. Coblentz, Patch, Duffy, and Bass provided legal counsel to GCG.
