Apex Group, a global financial services provider with a significant presence in Luxembourg, on Monday said it agreed to acquire Axess Accounting Office, a provider of corporate tax services for real estate and private equity firms in Japan. Financial details were not disclosed.
The Axess team of 30 local tax experts will join Apex, which is led in Japan by Country Head, Mark Bennett. Apex entered the Japanese market last year with the acquisition of Sanne Group and delivers an expansive range of financial and corporate services in the region to asset managers, corporates, financial institutions, private clients and family offices via an existing network of regional offices in China, Hong Kong, and Singapore.
Axess supports over 300 domestic and international clients with a full suite of Corporate Services, including tax compliance and tax advisory. The announcement follows Apex Group’s longstanding partnership with Axess to service real estate and private equity clients in Japan. Apex said the Axess clients can now benefit from its single-source solution for a broad range of services, including digital banking, depository, custody, fundraising and ESG services.
“Having worked closely with Axess to offer complimentary local services to our Japanese clients, we are delighted to add to our existing presence in Japan,” said Peter Hughes (photo), founder and CEO of Bermuda-headquartered Apex.
Growth in Japan
“We see the continued growth of Japan’s real estate and private markets, and relatively low levels of outsourcing, as a compelling strategic growth opportunity for our business. The addition of the Axess team will supplement our strong organic growth story in the broader Asia-Pacific region, as we deliver exceptional, locally embedded solutions to our clients. We look forward to welcoming Axess’ talented employees and valued clients to Apex Group in Japan, and to provide them with powerful, technology-enabled tools to drive their growth.”
Masanori Sakaguchi, President and CEO of Axess, said they are proud of the business the have built over the last two decades. “We are confident that the acquisition of Axess by Apex Group will benefit our clients through the provision of new and global solutions to enable their continued success. Peter and the team share our high standards of client service and we are committed to ensuring a seamless transition.”
The planned acquisition of Axess is subject to customary closing conditions.