Community Corner

Montagu Private Equity to Acquire CEFS International From UBS

Montagu Private Equity ("Montagu"), a leading European private equity firm, announced today that it has reached an agreement to acquire Corporate Employee Financial Services International ("CEFS International" or "the Company") from UBS. The sale is expected to close in 2014, subject to regulatory approvals. Terms of the deal were not disclosed.

CEFS International is part of UBS Wealth Management and administers employee share participation programs for around 100 corporate clients in Europe and Asia. Across its client base, the Company administers plans for more than 780,000 plan participants.

Due to ongoing regulatory changes and the constant need to upgrade the service offering, it is expected that there will be a high level of consolidation within the industry over the coming years. As one of the leading players in this space and one of the few global players with a full service offering and highly robust IT platform, CEFS International is well positioned to capitalise on this and increase market share through organic growth and opportunistic add-on acquisitions or partnerships.

Mads Hansen, Director at Montagu Private Equity, commented:

"We are very excited by this opportunity to invest in CEFS International and look forward to partnering with its strong management team to help the firm realise its full potential as a standalone business. UBS has developed CEFS International into one of the leading firms in the employee compensation plan industry in Europe and Asia. Our research has shown that there is nevertheless clear scope for further organic and acquisitive growth."

Oliver Freigang, Head of UBS CEFS International, said:

"The employee compensation industry has been changing over the past few years given the increased regulatory complexity and increasing demands of corporate clients for more tailored solutions. CEFS International has been at the forefront of such changes, ensuring that our clients receive the highest quality of service. We are very pleased to be partnering with Montagu; the team clearly shares our vision for the future and is fully supportive of our ongoing commitment to deliver the best service and solutions possible for our clients."

Montagu has extensive experience in the financial services and technology sectors, with previous investments including CAP, Emitel, Host Europe, Open Europe and Visma.

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