BRIEF-Fiera Capital acquires Apex Capital Management for $145 mln

Mon Feb 29, 2016 5:28pm EST
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Feb 29 (Reuters) - Fiera Capital Corp

* 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 text for Eikon: Further company coverage: (Reporting by Shashwat Awasthi)