SGG Group acquires CIM Global Business in Mauritius
SGG Group, a leading European independent investor services provider, has announced the acquisition of CIM Global Business in Mauritius.
CIM Global Business is an award-winning provider of fund, trust and corporate administration services with assets under administration in excess of USD 150 bn. The firm has a dedicated workforce of more than 250 people committed to the success of its international clients across its offices in Mauritius, South Africa and Singapore. The Johannesburg-based office is part of the sale transaction and is well positioned to capture the growing flows of investment into Africa for the enlarged SGG Group.
SGG Group is headquartered in Luxembourg and offers administrative and accounting solutions for investment funds, multinational corporations and family offices. The Company has over 550 employees and offers a comprehensive range of value-added services to customers across more than 20 countries.
Through this strategic acquisition, SGG Group will establish a strong presence in the attractive African and South-East Asian markets which have experienced significant growth and are becoming a more important part of the platform of services offered by the SGG Group. This acquisition will enable SGG Group to strengthen its reach and existing capabilities in these growth markets and become one of the global leaders in servicing its fund clients. The transaction is expected to complete in Q2 2017 and is subject to regulatory and shareholder approval.
To ensure the seamless integration of CIM Global Business, the company will be rebranded as part of SGG, allowing the combined group to pursue its business development strategy by expanding its range of services and geographies.
Graham Sheward, Managing Director of CIM Global Business, said "We are pleased to be joining forces with such a renowned international group. We look forward to bringing our expertise and platforms together with the SGG Group and to combining our existing range of services, outstanding teams and geographical footprint. In partnership with SGG, CIM Global Business will be able to expand its servicing capabilities, allowing us to better serve our growing base of clients and further develop our focus on fund administration and servicing corporates and investors in the exciting African and Asian markets.”
Serge Krancenblum, SGG’s Group CEO continued, "We are very excited to find in CIM Global Business a team of professionals that are highly praised by their clients and the market for their level of expertise across a broad range of services. We add to our group impressive platforms in Mauritius, Singapore and South Africa that will further strengthen our servicing capacities and reinforce the focus on fund administration. CIM Global Business management team share our growth ambitions and are equally passionate about supporting the needs of our clients."