AnaCap acquires majority stake in Luxembourg-based corporate and fund services provider FJMF
AnaCap, a market-leading private equity investor specialising in partnering with founders and entrepreneurial management teams across services, technology and software within the European financial ecosystem, today announces that it has signed transaction documentation for the acquisition of a majority stake in Fiduciaire Jean Marc Faber (“FJMF” or “the Company”).
FJMF is a leading independent provider of trust, fund, and corporate services based in Luxembourg. Founded in 1995 by Jean-Marc Faber, the Company is currently led by him along with partners Christophe Mouton and Daniel Galhano. The Company offers a comprehensive suite of services, including corporate administration, accountancy, trust, fund and payroll services. FJMF has experienced significant growth in recent years, fuelled by a strong organic growth strategy and strategic acquisitions.
With approximately 70 full-time equivalents (“FTEs”), FJMF is a member of the Ordre des Experts-Comptables (“OEC”). The Company serves as a “one-stop-shop” provider for more than 1,800 clients, mostly institutional fund customers and patrimonial clients.
Luxembourg is a leading financial centre in Europe, domiciling 25% of total European assets. The outlook for FJMF is positive, as the highly fragmented local market begins to consolidate. This trend aligns with the shared ambitions of AnaCap and FJMF to expand the Company’s inorganic growth strategy, leveraging AnaCap’s unique expertise and FJMF’s strong reputation. This acquisition represents AnaCap’s second investment in Luxembourg after it successfully sold First Names Group to SGG in 2017.This development also represents AnaCap’s third investment for its latest flagship fund, following the acquisitions of two founder-led businesses: Edge Group, an Italian insurance broking platform, and DK Accountants & Adviseurs, a Dutch accountancy services provider. Closing is expected first half of April.
Nassim Cherchali, AnaCap’s Managing Partner, commented:
“We are delighted to announce this partnership with FJMF. This represents AnaCap’s third investment in our latest flagship, with several other transactions already in the pipeline. This acquisition aligns with the AnaCap philosophy of partnering with founder-led platforms to support then during their next stage of growth. We believe FJMF is well-positioned to become a key consolidator in a highly fragmented local market, with this consolidation leading to improved service offerings for clients.”
Steven Gringoire, Director at AnaCap, added:
“We look forward to working closely with the entire team at FJMF and are thrilled for them to join the AnaCap platform. We were impressed with the Company’s recent growth, market reputation and constant focus on the quality of its services. We see an opportunity to cement FJMF’s leading position through increased M&A activity, continuous growth and expansion of the product proposition in an attractive sector. We are very excited for the next chapter of the company’s growth.”
Jean-Marc Faber, FJMF’s Founder and Managing Partner, concluded:
“We are pleased to partner with AnaCap and are very excited by what lays ahead of us for this new chapter. AnaCap’s entrepreneurial approach, track record and shared ambitions convinced us that they were the right partner to support us in our growth journey. We have very high ambitions for the Company as we look to continue expanding the value proposition for our clients and become a trusted consolidator in the corporate, fund and trust services sector.”
AnaCap received legal advice from Proskauer Rose LLP and Vam Campen / Liem. The financial details for this transaction are not disclosed.