J.C. Flowers & Co.’s Acquisition of 30% Stake in LMAX Group

J.C. Flowers & Co.'s Acquisition of 30% Stake in LMAX Group

In UK Squire Patton Boggs, Sullivan & Cromwell, advised on the matter.

Squire Patton Boggs advised LMAX Group with a team including James McKay (Picture – Corporate M&A).

Sullivan & Cromwell advised J.C. Flowers & Co. with a team including Vanessa Blackmore (Corporate M&A), Oderisio De Vito Piscicelli (Corporate M&A).

LMAX Group, the leading independent operator of institutional execution venues for FX and cryptocurrency trading, closed its agreement to sell a 30% stake in the company to J.C. Flowers & Co. LLC, a leading private investment firm dedicated to investing globally in the financial services industry, for a cash consideration of $300 million valuing LMAX Group at $1 billion. The transaction remains subject to regulatory approval.

Headquartered in London, LMAX Group is a global financial technology company and the leading independent operator of multiple institutional execution venues for FX and cryptocurrency trading. LMAX Group operates five exchanges globally, matching engine infrastructure in London, New York and Tokyo with clients in over 100 countries. Over the last decade the Group has built a leading institutional FX exchange and in 2018 launched LMAX Digital which has become the leading institutional spot cryptocurrency exchange, serving over 500 institutional clients and is the second largest bitcoin exchange globally.

The Squire Patton Boggs team was led by corporate partner James McKay (Picture) and senior associate Josh Fitzpatrick in London.

The S&C team advising J.C. Flowers includes Mitchell Eitel, Vanessa Blackmore (London) and Oderisio de Vito Piscicelli (London).

Involved fees earner: Josh Fitzpatrick – Squire Patton Boggs; James McKay – Squire Patton Boggs; Vanessa Blackmore – Sullivan & Cromwell; Oderisio De Vito Piscicelli – Sullivan & Cromwell; Mitchell Eitel – Sullivan & Cromwell;

Law Firms: Squire Patton Boggs; Sullivan & Cromwell;

Clients: J.C. Flowers & Co.; LMAX Group;

Author: Giulia Di Palma

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