Elian, a provider of corporate services, fund services, private wealth and capital services, has agreed to acquire SFM Europe, a provider of corporate services with over EUR1trillion of assets under administration.
The acquisition, which is subject to regulatory approvals, is expected to boost Elian’s head count by 115 to 640 employees across 16 jurisdictions.
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Following the deal, SFM Europe will operate as a standalone unit of Elian.
As part of the deal, SFM Europe CEO Robert Berry will join Elian’s executive team, while SFM’s existing management team will continue to manage the business on a daily basis.
Founded in 1999, SFM Europe offers corporate services for the management of securitisations, structured finance and asset finance to global banks, investment managers and blue chip corporates. The business, based in London, has over 100 staff in nine locations.
The transaction will be funded exclusively by Elian, through a mixture of cash on its balance sheet and debt raised from the refinancing of the business’s existing debt facility, Electra Partners, a parent company of Elian said in a statement.
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By GlobalDataElian CEO Paul Willing said: "This deal will complement Elian’s corporate services business and extend the group’s geographic reach in the key European financial markets of Amsterdam, Frankfurt, Lisbon, Madrid, and Milan."
Electra Partners partner Chris Hanna said: "We have worked hard with Paul Willing and his team to develop a promising M&A pipeline for the business and SFM Europe is the second acquisition we have announced this year. We continue to evaluate further strategic acquisition opportunities."
