London 27 February 2019. Apera Asset Management (“Apera”), a pan-European mid-market private debt investor, today announces that it has agreed to provide debt facilities to support Palatine Private Equity’s acquisition of SMP Group Limited (“SMP”).
SMP is a multijurisdictional provider of trust, corporate, and fund administration services which was established in 2007 though a management buyout from Fortis Intertrust. Following significant growth, the Isle of Man-headquartered business now employs c. 200 people across 7 international offices.
The acquisition of SMP by Palatine Private Equity and the next generation of the SMP management team has been led by Group Director David Hudson. He will be taking the role of Group CEO after the deal secures regulatory approval. The move provides SMP with the platform to continue its successful growth strategy.
Apera has arranged a unitranche debt package in support of the buyout of SMP and further acquisitions.
David Wilmot, Partner at Apera Asset Management said: “SMP is a high-quality operator in the trust and corporate administration sector, which is well-positioned for further growth in its home and international markets. We are very pleased to support both Palatine and David Hudson and his team in this exciting new chapter in SMP’s development.”
David Hudson, Group Director at SMP Group, said: “Apera was flexible and supportive throughout the deal process. The financing solution they have provided gives us the means to seize the many opportunities available to us in the market.”
About Apera
Apera is a pan-European mid-market private debt investor operating in the DACH region, the UK, the Nordic region, France and Benelux. The firm develops long-term partnerships with private equity investors, SME borrowers, and advisors by providing tailored financial solutions that meet both the operational needs and growth objectives of clients, whilst producing attractive returns. Apera is focused on bringing a new standard of transparency to the private debt market.
About SMP
The SMP group of companies provides corporate and trust structuring, accounting and tax, gaming, and fund services to a global client base of both corporate clients and high net worth individuals. Headquartered in the Isle of Man, it has over 200 staff working in Jersey, Malta, Hong Kong, Bahamas, Cayman Islands, and Switzerland.
For further information, please contact:
Graeme Brooks
Head of Marketing
+44 (0)1624 683221
graeme.brooks@smppartners.com
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