McDermott Advises LSE listed Sanne Group on its Acquisition of FLSV Fund Administration Services
LONDON (October 11, 2016) – International law firm McDermott Will & Emery announces today advising global specialist outsourcing company Sanne Group plc on their complex acquisition of FLSV Fund Administration Services (FAS) for a total consideration of approximately US$ 65.8 million.
McDermott’s Head of the London Transactional Practice Mark Davis comments, “We are delighted to be able to assist the Sanne Group with this acquisition. This was a complex deal and highlights our ability to field a cohesive and multi-disciplinary team to meet client needs”.
The transaction was led by Guy Coltman, Partner at Carey Olsen, who also advised on Jersey law, supported by David Allen, Partner at Carey Olsen and assisted by McDermott Partners Stuart Mathews (on the English law corporate aspects), Meir Lewittes (on US corporate issues) and Adam Spiegel (on US finance aspects). The transaction also included lawyers from the Firm’s corporate, finance, employment and tax practices based in London, New York and Los Angeles notably Partners Evan Belosa and Maureen O’ Brien and Associates Anne Harris, Patrick Ryan for US employee benefits matters, UK tax Partner James Ross and Associates David Falk in New York and Matthew Chen in London. The transaction is expected to complete in November 2016.
McDermott’s Corporate & Transactional Practice represents business interests around the world, from global corporations and industry-leading companies to privately funded and entrepreneurial driven enterprises, as well as the financial institutions that support them. McDermott consistently ranks in the leading league tables, including Mergermarket, Thomson Reuters, Bloomberg and PitchBook.
The Corporate & Transactional Practice Group was named “Team of the Year” for Middle Market M&A/Buyouts by The Legal 500 and is highly ranked across the various legal directories in the United States, Germany and the United Kingdom. The London Corporate team is recommended as a ‘first-class’ department and moves up to Tier 1 in Corporate and Commercial: M&A – mid-market, £50m-£250m by Legal 500 UK 2016.
McDermott Will & Emery is a premier international law firm with a diversified business practice. Numbering more than 1,000 lawyers, we have offices in Boston, Brussels, Chicago, Dallas, Düsseldorf, Frankfurt, Houston, London, Los Angeles, Miami, Milan, Munich, New York, Orange County, Paris, Rome, Seoul, Silicon Valley and Washington, D.C. Further extending our reach into Asia, we have a strategic alliance with MWE China Law Offices in Shanghai.
About Sanne Group plc Sanne Group plc is a specialist global provider of outsourced corporate, and private client administration, reporting and fiduciary services. The Company operates through eight asset and market focused business divisions seven segments: Debt, Real Estate, Private Equity, Hedge, Corporate and Institutional, Executive Incentives, Private Client and Treasury.
Established for over 25 years and listed on the Main Market of the London Stock Exchange, Sanne employs approximately 600 people worldwide and administers structures and funds that have in excess of £100 billion of assets. Key clients include alternative asset managers, financial institutions and corporates.
The Group has a presence in established, international financial centres including Jersey, Guernsey, London, Luxembourg, Dublin, Malta, South Africa, Dubai, Hong Kong, Shanghai and Singapore.
The acquisition of FAS will increase headcount by more than 100 people, with the majority of these based in New York supported by back office capabilities in Belgrade, Serbia.