Fiera Capital completes acquisition of Apex Capital

July 20, 2016

On June 2, 2016, Fiera US Holding Inc., a wholly owned subsidiary of Fiera Capital Corporation, completed its acquisition of Apex Capital Management Inc.

Fiera Capital Corporation (“Fiera Capital”) paid consideration of approximately US$145 million for Apex Capital Management Inc. (“Apex”), comprised of $88 million in cash and $57 million in Class A subordinate voting shares in Fiera Capital. Fiera Capital drew approximately $88 million of the $145 million purchase price under a credit facility to finance the acquisition. The purchase price is subject to post-closing adjustments.

As a result of its acquisition, Fiera Capital has named Nitin Kumbhani, founder and CEO of Apex, as Vice Chairman and Chief of Growth Equity Strategies of Fiera Capital’s U.S. division.

Apex will become part of Fiera Capital’s U.S. division, more than doubling Fiera Capital’s presence in the U.S, specifically in the institutional and sub-advisory retail markets. As a result of the acquisition, Fiera Capital will increase its total assets under management (“AUM”) to over CAD$107 billion, which includes Apex’s pre-acquisition CAD$7 billion AUM.

Apex is a growth equity manager headquartered in Dayton, Ohio, with a specialty in small/mid cap and small cap equities to institutional and high net worth advisors in the U.S.

Fiera Capital is a Montreal-based independent asset management firm that offers traditional investments, alternative investments, and asset allocation solutions to institutional, private, and retail customers in Canada.

To read the press release: please click here.


Categories

Investment Manager M&A, Transactions