06 July 2023

The Corporate Group from independent UK law firm Burges Salmon has advised the shareholders of Mainspring Fund Services Limited on the acquisition of the company by Apex Group, a global financial services provider.

The strategic acquisition of Mainspring adds 70 new employees and £10.5 billion of assets under administration to Apex Group in the UK. Mainspring provides outsourced fund administration services to small and medium-sized venture fund managers in the UK and the team’s specialist knowledge and experience in VC fund administration will complement Apex’s Group’s existing offering for this client type and further enable the provision of tailored services to meet the specific requirements of VC managers.

Further, Mainspring adds notable new custody and nominee administration services for private assets to Apex Group.

The Burges Salmon team that advised the Mainspring shareholders on this deal comprised partner Mark Shepherd, senior associate Amy Carr and associate Sophie Potter from the firm’s Corporate Group, along with Share Plans and Incentives team members, partner Nigel Watson and associate Claire Withers.

Stephen Geddes, CEO at Mainspring, says: “A huge ‘thank you’ to the Burges Salmon team for all of their very hard and dedicated work. We’re all delighted, and super grateful, for the team’s unfailing good humour, sound and measured advice, professionalism and creative thinking. They have been a real pleasure to work with.”

Mark Shepherd adds: “It was a genuine privilege to work so closely with the Mainspring team on this exciting chapter in Mainspring’s journey. Stephen and the team have built a fantastic business and this sale marks a pivotal moment in its history. We wish them and Apex all the very best for the future.”

Key contact

Mark Shepherd

Mark Shepherd Partner

  • Head of Private Equity
  • Corporate
  • Healthcare

Subscribe to news and insight

Burges Salmon careers

We work hard to make sure Burges Salmon is a great place to work.
Find out more