Sanne Group

Established in Jersey in 1988 to provide fiduciary services to private clients, Sanne started to work with corporate customers in 2003.{{cite web|url=http://www.internationalinvestment.net/products/jerseys-sanne-group-acquire-mauritius-based-ifs-us127-3m/|title=Jersey's Sanne Group to acquire Mauritius-based IFS for US$127.3m|publisher=International Investment|date=1 December 2016|access-date=4 March 2017}}

Inflexion Private Equity supported Sanne's acquisition of State Street's corporate administration business and took a significant stake in Sanne in return for providing the funds in January 2013.{{cite web|url=https://www.globalcustodian.com/state-street-sells-capital-markets-corporate-administration-business-to-sanne/|title=State Street Sells Capital Markets Corporate Administration Business to Sanne|date=28 January 2013|publisher=Global Custodian|access-date=4 September 2020}}

Sanne was then the subject of an initial public offering on the London Stock Exchange in March 2015.{{cite web|url=https://realdeals.eu.com/news/2015/03/27/inflexion-makes-3-7x-on-sanne-group-ipo/|title=Inflexion makes 3.7x on Sanne Group IPO|date=27 March 2015|publisher=Real Deals|access-date=4 March 2017}} However, it attracted some criticism because it secretly signed up shareholders before announcing the flotation.{{cite web|url=https://www.thetimes.com/business-money/companies/article/sanne-group-takes-undercover-route-to-flotation-vpp8mw2fr8h|title=Sanne Group takes undercover route to flotation|date=27 March 2015|work=The Times|access-date=4 September 2020}} There was also some criticism that the company spent £11 million on the flotation.{{cite web|url=https://www.globalcapital.com/article/t24gq61gldf3/sanne-group-spent-16311m-on-ipo|title=Sanne Group spent £11 milliin on float, has performed well since|publisher=Global Capital|date=27 August 2015}}

The company acquired Chartered Corporate Services, a Dublin-based business, in February 2016{{cite web|url=http://www.digitallook.com/news/aim-bulletin/sanne-group-to-buy-dublin-based-chartered-corporate-services--1032205.html|title=Sanne Group to buy Dublin-based Chartered Corporate Services|publisher=Digital Look|date=11 February 2016|access-date=4 March 2017}} and, more significantly, International Financial Services, a Mauritius-based business with $82 billion of assets under management,{{cite web|url=https://www.spglobal.com/marketintelligence/en/news-insights/trending/nbij6jp3ft4o81671yqnwg2|title=Jersey-based Sanne Group to acquire Mauritius fund administration business|date=1 December 2016|publisher=S&P Global|access-date=4 September 2020}} in December 2016.{{cite web|url=https://defimedia.info/mauritius-based-ifs-bought-rs-46-billion|title=Mauritius-based IFS bought for Rs 4.6 billion|date=2 December 2016|publisher=Defimedia|access-date=4 September 2020}} Then in September 2017, it bought Luxembourg Investment Solutions and Compliance Partners on an earn-out basis.{{cite web|url=https://www.rttnews.com/2819204/sanne-group-to-buy-luxembourg-investment-solutions-compliance-partners.aspx?Arch=1|title=Sanne Group To Buy Luxembourg Investment Solutions, Compliance Partners|publisher=RTT News|date=29 September 2017|access-date=4 September 2020}} The rising volume of regulation also drove expansion.{{cite web|url=https://www.barrons.com/amp/articles/sanne-group-thrives-in-a-rising-tide-of-regulation-1498886036?amp_js_v=a3&_gsa=1&usqp=mq331AQFKAGwASA%3D#aoh=15992233537170&csi=1&referrer=https%3A%2F%2Fwww.google.com&_tf=From%20%251%24s&share=https%3A%2F%2Fwww.barrons.com%2Farticles%2Fsanne-group-thrives-in-a-rising-tide-of-regulation-1498886036|title=Sanne Group Thrives in a Rising Tide of Regulation|date=1 July 2017|publisher=Barrons|access-date=4 September 2020}}

Following these acquisitions and some subsequent organic expansion, the company's growth rate was described by Investors Chronicle in March 2018 as "explosive".{{cite web|url=https://www.investorschronicle.co.uk/shares/2018/03/22/outsourcing-demand-boosts-sanne/|title=Outsourcing demand boosts Sanne|date=22 March 2018|publisher=Investors Chronicle|access-date=4 September 2020}}

The succession planning arrangements attracted some criticism when the departure of Dean Godwin as Chief Executive was announced in January 2019 just 12 months after Spencer Daley left his post as chief financial officer; the news unsettled the market, as Godwin and Daley had led the initial public offering, and the share price fell 18% in a day.{{cite web|url= https://www.proactiveinvestors.co.uk/companies/news/213185/sanne-shares-tumble-as-news-chief-executive-to-retire-counters-upbeat-trading-statement-213185.html|title=Sanne shares tumble as news chief executive to retire counters upbeat trading statement|date=23 January 2019|publisher=Proactive Investors|access-date=4 September 2020}} The company sold its private client business to JTC plc in March 2020.{{cite web|url=https://www.internationalinvestment.net/news/4012548/jersey-sanne-sells-private-client-business-jtc|title=Jersey's Sanne sells its private client business to JTC|date=17 March 2020|publisher=International Investment|access-date=14 November 2020}}

In the wake of the Covid 19 pandemic, the company has benefited from customers focusing on the management of existing portfolios rather than new fund raising.{{cite web|url=https://www.sharesmagazine.co.uk/news/market/7021134/Sanne-expects-strong-first-half-earnings-growth-amid-higher-sales-margins|title=Sanne expects 'strong' first half earnings growth amid higher sales, margins|date=28 July 2020|publisher=Shares Magazine|access-date=4 September 2020}} Commentators suggested that the fact that the pandemic has so far had a minimal impact on client delivery made the company a "rare prospect of earnings resilience".{{cite web|url=https://www.investorschronicle.co.uk/shares/2020/03/19/sanne-shines-amid-resilient-claim/|title=Sanne shines amid resilient claim|date=19 March 2020|publisher=Investors Chronicle|access-date=4 September 2020}}

In August 2021, the Bermuda-based company, Apex Group, made an offer to acquire the company at a price per share which valued the company at £1.5 billion.{{cite news|url=https://www.reuters.com/article/uk-sanne-group-m-a-apex-idUKKBN2FQ1Q3 |title=UK's Sanne agrees to $2.07 billion takeover by Apex|newspaper=Reuters|date=25 August 2021|access-date=29 July 2022}}

The company had approximately £500 billion of assets under administration as at 31 December 2021.

{{reflist|30em}}

• [http://www.sannegroup.com/ Official site]

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Category:Financial services companies established in 1988

Category:Companies of Jersey

Category:2015 initial public offerings

Category:Companies listed on the London Stock Exchange