Apex Group Acquires Transfer Agency IASL
Apex Group Ltd. announced the acquisition of transfer agency business, Investor Administration Solutions Limited [IASL].
A spokesperson said, “The acquisition of IASL, from parent company Professional Partners Administration Limited [PPAL], complements Apex’s existing advanced transfer agency platform and integrates an experienced team of transfer agency experts into its UK operation. The addition of the IASL business enhances the Group’s UK offering through enabling the delivery of transfer agency services to clients within the UK retail market.
“Apex’s UK presence has been expanding over the past few years; with the addition of Link Asset Services’ CPCS business and Throgmorton in 2019. The Group made its intention to continue expanding in the UK market clear earlier this year with the launch of a local compliance solutions arm, via subsidiary Throgmorton. The IASL business joins a growing UK presence nearer 350 people delivering service across Fund Administration, Corporate Solutions, Depositary, Custody and Authorised Corporate Director services.
“This latest news follows the other recent acquisition announcements form Apex of independent UCITS ManCo and AIFM FundRock, Banco Modal’s Brazilian fund administration business and compliance and risk advisory consultancy, Praesidium.”
Peter Hughes, Founder and CEO of Apex Group comments: “Each acquisition we make adds another layer of expertise to our client service capabilities. The acquisition of IASL further demonstrates our ongoing commitment to continually enhancing our service offering and the highly experienced IASL team will expand our transfer agency services in the UK retail market, further strengthening our single-source model.”
Paul Wilcox, Founder and Chairman of PPAL adds: “We are excited for our specialist transfer agency team to join one of the largest and fastest growing independent financial service providers with a reputation for upholding excellent client service. This acquisition is good news for our clients who will benefit from Apex’s model, receiving an efficient and comprehensive service underpinned by specialist expertise and fully integrated technology systems.”
Terms of the transaction are undisclosed.
