February 29, 2016 / 10:30 PM / a year ago

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

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)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below