Herbert Smith Freehills is pleased to have advised Apex Group Ltd on its successful A$400 million acquisition of ASX-listed Mainstream Group Holdings Limited by way of a scheme of arrangement, following a contest for control involving a number of other prospective bidders.
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 A$295 billion. This successful acquisition is the latest in a series of transformative acquisitions for Apex in the past 18 months.
The Herbert Smith Freehills team was led by partners Clayton James, Tony Damian, and senior associate Li-Lian Yeo, who were supported by a core corporate team that included solicitor Stephanie Simm and graduate Brae Aslanidis.
Clayton James said, "We were delighted to play a part in Apex’s recent transformative M&A activity, advising on its successful acquisition of Mainstream after the competitive bid for this prized asset, which played out over a number of months".
Macquarie Capital acted as financial adviser to Apex.
This deal is another example of Herbert Smith Freehills’ market-leading work in public M&A.