Bermudian-founded Apex Group Ltd, a global financial services provider, has acquired transfer agency business, Investor Administration Solutions Limited.

In a statement, it said the acquisition from parent company Professional Partners Administration Limited complements Apex’s existing advanced transfer agency platform “and integrates an experienced team of transfer agency experts into its UK operation”.

It said the addition of the business enhanced the group’s UK offering through enabling the delivery of transfer agency services to clients within the UK retail market.

Apex’s UK presence has been expanding over the past few years; with the addition of Link Asset Services’ CPCS business and Throgmorton last year. The group made its intention to continue expanding in the British market clear this year with the launch of a local compliance solutions arm, via subsidiary Throgmorton.

The IASL business joins a growing UK presence nearing 350 people delivering service across fund administration, corporate solutions, depositary, custody and authorised corporate director services.

Peter Hughes, founder and CEO of Apex Group, said: “Each acquisition we make adds another layer of expertise to our client service capabilities. The acquisition of IASL further demonstrates our ongoing commitment to continually enhancing our service offering and the highly experienced IASL team will expand our transfer agency services in the UK retail market, further strengthening our single-source model.”

Paul Wilcox, founder and chairman of Professional Partners Administration Limited, said: “We are excited for our specialist transfer agency team to join one of the largest and fastest growing independent financial service providers with a reputation for upholding excellent client service. This acquisition is good news for our clients who will benefit from Apex’s model, receiving an efficient and comprehensive service underpinned by specialist expertise and fully integrated technology systems.”

Terms of the transaction were not disclosed.