Fiera Capital more than doubles presence in u.s. Institutional market with acquisition of Apex Capital Management * Total consideration for Apex will be US$145 million * Deal expected to be immediately accretive, adding 10% to 15% accretion to adjusted earnings per share within first full year post closing * $88 million of purchase price will be paid in cash financed through new $125 million term loan and issuance of $57 million in class a subordinate voting shares * Term loan will mature three years from closing * Apex will become part of Fiera Capital’s U.S. division * Agreement to acquire, via its wholly-owned subsidiary Fiera US Holding inc., Apex Capital Management
Source: Reuters.comFiera Capital acquires Apex Capital Management for $145 mln
Industry: Financial services 2016-03-01
