Apex enters Portuguese market with Watermark acquisition
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Apex enters Portuguese market with Watermark acquisition 06 November 2023Portugal Reporter: Lucy Carter
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Apex Group (Apex) has acquired accounting, reporting, tax compliance and administrative services firm Watermark Consulting, marking its entry to the Portuguese market.
Watermark is now a part of Apex’s Corporate Solutions business, a global initiative with locally-delivered services. The company’s local employees will also join the group’s division.
Watermark’s clients, including asset managers, multinational corporates and small- and medium-sized enterprises, will gain access to Apex’s digital banking, depositary, fund raising and ESG and sustainability services across the entity lifecycle.
The announcement continues Apex’s growth in the Southern Europe region, including alternative asset and corporate service provider Sanne in 2022.
Peter Hughes, founder and CEO of Apex, says: “We continue to see compelling opportunities for further consolidation and growth in Southern European markets, notably in Portugal, which has achieved markedly higher post-pandemic growth than other economies in the wider Eurozone. We look forward to welcoming Watermark’s local team who will offer new capabilities as well as valuable insights for our global client base wishing to raise and invest capital in Portugal.”
Pedro Alves and Nuno Santos, partners at Watermark Consulting, comment: “We are excited for the opportunities that this acquisition will bring, through the delivery of Apex’s multi-jurisdictional, single-source offering to our clients in the Portuguese market. Apex shares our commitment to offering proactive and high-quality services to our clients and will provide a dynamic and supportive home for our colleagues and clients.”
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