Mainstream is a leading fund administrator for fund managers, superannuation trustees and listed companies. Under the $415 million deal, Apex acquired 100% of the shares in Mainstream following approvals from Mainstream’s shareholders, the Federal Court of Australia and regulators.

The acquisition means Mainstream will now operate under the Apex brand, led by Martin Smith and Byram Johnston. As part of Apex, Mainstream will continue to provide fund administration and related services to over 1,400 funds and more than 189,000 investors with funds under administration in excess of AUD $295 billion.

Mainstream was founded by Martin Smith and Byram Johnston in 2006, with the intention to establish a boutique alternative to existing fund administrators. Mainstream experienced significant growth since its establishment and is now one of Australia’s largest independent administrators.

The Maddocks team on the matter was led by partners Ron Smooker and Andrew McNee, with special counsel Erin Hourigan, senior associates Jacqueline Picone, Lydia May and Laura Gordon and lawyer Olivia Smedley.

Maddocks also worked alongside Miles Advisory, as financial advisor to Mainstream, in particular Tim Miles, Stephen Bowring, Alan Dassie and Herbert Narayan.

Ron Smooker said he was pleased the firm could assist the Mainstream founders on this landmark deal.