Montagu Private Equity LLP (“Montagu”), one of Europe’s longest established private equity firms, today announced the completion of its acquisition of Equatex (“the Company”) from UBS, the Swiss bank. Terms of the deal were not disclosed.
Equatex, previously known as Corporate Employee Financial Services International (“CEFS International”), is a leading provider of international employee and executive compensation plan services. The Company is headquartered in Zurich and administers share participation and other compensation programs for around 100 corporate clients across Europe, Asia, Australia and America.
Montagu will work closely with the management team to build on Equatex’s position as one of the few global employee compensation plan companies that has a full service offering. Going forward, Equatex is well placed to benefit from opportunities for organic growth and through participation in ongoing industry consolidation via strategic bolt-on acquisitions.
Mads Hansen, Director at Montagu Private Equity, said:
“The carve-out of CEFS International to create Equatex has been a long and complicated process, requiring high levels of cooperation from all involved. The end result is a landmark transaction for the Swiss market, with the Swiss Financial Market Supervisory Authority (FINMA) granting its first license to a private equity-owned business. We look forward to supporting the company through the next phase of its growth and helping it reach its full potential as a standalone business.”
Equatex will continue to partner with UBS in key markets around the world.