Apex Group has completed the acquisition of Mainstream Group Holdings Limited (Mainstream) following approvals from Mainstream’s shareholders, the Federal Court of Australia and regulators.
Mainstream will now operate under the Apex brand, strengthening the Group’s global presence with the addition of over 360 employees across locations in Australia, Singapore, Hong Kong, United States, Isle of Man, Malta, Ireland and the Cayman Islands.
Following the strategic acquisition of Mainstream, Apex now operates from 50 offices worldwide, with 5,000 employees servicing USD1.5 trillion in assets across administration, depositary, custody and under management.
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 AUD295 billion. Mainstream’s acquisition by the Group will enable clients to benefit from Apex’s global footprint; accessing new markets through the Group’s globally connected operating model and single-source client offering.
Peter Hughes, Founder and CEO of Apex Group, says: “We are pleased to welcome Mainstream to the Apex Group, which we believe provides the best platform for the company’s continued success and international expansion. 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. We share similar cultures and values and are confident of our future as part of the Group. I look forward to seeing the benefits that Apex’s successful integration will bring for our clients and employees in the years to come.”
Mainstream was advised by Miles Advisory Partners as financial adviser and Maddocks as legal adviser. Macquarie Capital acted as financial adviser to Apex, with Herbert Smith Freehills providing legal support.