Apex Group, a global financial services provider, has announced its entry into the Portuguese market with the acquisition of Watermark Consulting.
Watermark Consulting is a Lisbon-based provider of accounting, reporting, tax compliance and administrative services in Portugal. Watermark serves clients including asset managers, multinational corporates, SMEs and Real Estate investors, delivering Set-up and Incorporation, Accounting and Reporting, Tax Compliance, Fiduciary, HR and Administrative Services.
Watermark will become a part of Apex Group’s existing global Corporate Solutions business. Apex Group offers a comprehensive range of tech-enabled Corporate Services covering all stages of the entity life cycle. Watermark’s local team of 16 experienced consultants, with backgrounds in accounting, financial and tax services will join Apex Group’s experienced and dedicated professionals in key jurisdictions, providing multi-jurisdictional Corporate Services that are at the forefront of industry best practice and meet the highest standards of corporate governance.
Watermark’s clients will now benefit from access to Apex Group’s single-source solution, which encompasses a broad range of services including Digital Banking, Depositary, Fund Raising Services, and pioneering ESG & Sustainability Solutions, offered globally and delivered locally by over 12,000 experts across 38 markets worldwide.
This strategic acquisition further expands the Group’s footprint in Southern Europe, having launched offices in Madrid and Valencia, Spain via the acquisition of Sanne Group in 2022 and will complement Portuguese-language capabilities gained through the additions of BRL Investimentos and MAF in Brazil.
Peter Hughes, Founder and Chief Executive Officer of the Apex Group commented: “We continue to see compelling opportunities for further consolidation and growth in Southern European markets, notably in Portugal which has achieved markedly higher post-pandemic growth than other economies in the wider Eurozone. We look forward to welcoming Watermark’s expert local team who will offer new capabilities as well as valuable insights for our global client base wishing to raise and invest capital in Portugal.”
Pedro Alves (pictured), João Belchior and Nuno Santos, Partners at Watermark Consulting further commented: “We are excited for the opportunities that this acquisition will bring, through the delivery of Apex Group’s multi-jurisdictional, single-source offering to our clients in the Portuguese market. Apex Group shares our commitment to offering proactive and high-quality services to our clients and will provide a dynamic and supportive home for our colleagues and clients.”
PBBR provided legal counsel to Watermark Consulting, while Uria Menedez acted as advisor to Apex Group.