Apex Group – acquisition of Mainstream Group Holdings

• Mainstream Group Holdings (“Mainstream”) is an ASX-listed provider of fund administration and outsourced back-office services to the funds management industry, operating across Australia and offshore
• Miles advised the Mainstream shareholders on the acquisition of the company by global financial services provider Apex Group, implemented by way of a scheme of arrangement
• Miles designed a go-shop process that generated competing bids, materially increasing the value delivered to shareholders and securing a significant premium to the initial offer

Industry Context

Fund administration is a scale business where global providers compete on technology, jurisdictional coverage and breadth of service to asset managers. Consolidation has been intense as administrators pursue acquisitions to add capability, clients and geographic reach. Competitive tension between well-capitalised global bidders can deliver materially enhanced outcomes for the shareholders of attractive listed targets.

Further information on this transaction is available at: Apex Group / Mainstream Group Press Release and Apex Group / Mainstream Group AFR Article