Elian agrees terms to buy SFM Europe

Staff numbers will grow to 640

Elian has agreed to terms to buy SFM Europe, a provider of corporate services with more than 1 trillion euros (US$1.12 trillion) of assets under administration. 

SFM Europe provides corporate services for the management of securitizations, structured finance and asset finance to global banks, investment managers and blue chip companies, whereas Elian specializes in the establishment and ongoing administration of companies, funds and trusts for multinational corporations, financial institutions, fund managers and high net worth individuals. 

Elian was established in September 2014 following a management buyout of the business from Ogier, the offshore legal and administration group. 

Paul Willing, CEO of Elian, said SFM Europe is an outstanding strategic fit for Elian. 

“SFM Europe has a long established reputation for providing the highest level of client service, coupled with industry expertise and an excellent client base.  

This deal will complement Elian’s corporate services business and extend the group’s geographic reach in the key European financial markets of Amsterdam, Frankfurt, Lisbon, Madrid, and Milan,” he said. 

SFM Europe was established in 1999 and has offices in jurisdictions in Europe. 

SFM Europe will operate as a separate division of Elian once the deal is completed. The transaction is subject to approval by the regulators. 

The acquisition will bring Elian’s total number of staff to 640 by adding 115 employees and will significantly expand the company’s European footprint and enhance its corporate services and structured finance offering, Elian said in a press release. 

Jo Keighley, founder and executive chairman of SFM Europe, said, “We gave careful consideration to the future direction of SFM Europe. Elian is an excellent business, which I believe is the right strategic fit; I am confident that putting the two complementary businesses together will bring benefits both to our clients and to our employees.” 

SFM Europe’s existing management team will continue to run the business on a day-to-day basis with Robert Berry, SFM Europe’s CEO, joining the Elian executive team. 

“Elian’s reputation, industry knowledge, and commitment to client service and staff development, make it the perfect company to take SFM Europe forward. I am delighted to be joining Elian’s executive team,” said Mr. Berry.