MJ Hudson Group PLC (“MJ Hudson”) was founded in 2010 as a private funds law firm. MJ Hudson primarily had three revenue generating divisions including Advisory (legal and investment consultancy services), Business Outsourcing and Data & Analytics.
Apex Group planned to acquire MJ Hudson’s Data and Analytics (ESG, Custodian Bank Benchmarking, Quantitative Solutions, IR & Marketing) and Business Outsourcing (ManCo in Luxembourg and Ireland, and Channel Islands Fiduciary and Fund Administration) businesses.
MJ Hudson’s Data and Analytics and Business Outsourcing divisions were integrated within MJ Hudson Group for central functions support including People & Wellbeing, Finance, GC & Compliance, Marketing, Technology and Facilities.
We were engaged by Apex Group to provide buy side financial, tax, regulatory, separation due diligence and TSA/RTSA support in connection with the transaction.
Post due diligence and between signing and completion, we supported Apex Group’s integration team and their legal advisors with the estimation and finalisation of the TSA and RTSA service charges, including providing support to Apex Group with the negotiation of the TSA and RTSA service charges with MJ Hudson Group.
We combined our strong sector expertise with the integrated approach taken across our teams to advise Apex Group, providing them with confidence in the separation assumptions for the Target.
Our separation due diligence work helped Apex Group to form a view of an optimised operating model and cost base of the Target, helping to maximise deal value, and de-risking the separation.
Grant Thornton became an extension of our own team, adding value by sharing their extensive experience and strategic insights throughout the diligence process. With Grant Thornton’s support, we are well placed to deliver an efficient and expedient integration process.
Marcia Coatham Global Head of Integrations, Apex Group Ltd
