New Mountain Capital invests in offshore firm Appleby with support from Addleshaw Goddard
International law firm Addleshaw Goddard has advised private equity firm New Mountain Capital on a significant minority investment in leading offshore law firm Appleby.
The transaction saw New Mountain Capital, a New York-based growth-focused investment firm with approximately US$60 billion of assets under management, make a significant minority investment in Appleby, a leading offshore legal and fiduciary services platform with more than 500 employees and over 200 lawyers across 11 offices worldwide.
The investment is intended to accelerate Apple's long-term growth strategy, while preserving partner ownership and control of its law firm entities.
The Professional Services Group team at Addleshaw Goddard, which advised New Mountain Capital on deal structuring, regulatory issues and associated due diligence matters, was led by Jon Cheney and included Jonathan Cakebread, Ben Sanderson and Luc Swietochowski.
Jon Cheney, Partner, said: “This transaction is another strong example of the increasing interest we are seeing from investors in high-quality professional services platforms. Appleby has built a market-leading international business with a distinctive combination of legal and fiduciary services, a strong growth trajectory and a reputation for excellence across key global financial centres.
“We were delighted to support New Mountain Capital on this strategic investment and would like to congratulate both New Mountain and Appleby on reaching this significant milestone. The transaction reflects the continued evolution of the professional services sector and the growing range of capital solutions available to support ambitious, partner-led businesses in achieving their long-term growth objectives.”
The transaction continues Addleshaw Goddard's strong track record advising on investments in the professional services sector.
Earlier this month, the firm's Professional Services Group and Private Equity team advised international professional services group Mourant on a significant minority investment from specialist partnership capital provider MML, reinforcing the firm's position at the forefront of one of the most active areas of the private capital market.
