Apex Group has completed the acquisition of Mainstream Group following approvals from Mainstream’s shareholders, the Federal Court of Australia and regulators.
Headquartered in Australia, Mainstream will now operate under the Apex brand.
The acquisition will strengthen Apex’s global presence with the addition of more than 360 employees at Mainstream’s New South Wales headquarters, as well as its offices located in Singapore, Hong Kong, United States, Isle of Man, Malta, Ireland and the Cayman Islands.
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.
This is the latest in a series of acquisitions for Apex; upon completion of the planned acquisition of Sanne Group, Apex will service $2.2 trillion in assets across administration, custody, depositary and under management.
Peter Hughes, founder and CEO of Apex Group, comments: “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. I look forward to seeing the benefits that Apex’s successful integration will bring for our clients and employees in the years to come.”
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