Sectors Financial Services
Location Jersey, UK
Investment type Partnership Capital
Date of exit March 2015
Investment status Realised
Return 4.0x; IPO

Sanne Group plc

The company

Sanne Group plc is a leading independent corporate, fund and trust administration business. Listed on the main market of London Stock Exchange, the business has a market capitalisation of £232m, at flotation.

Headquartered in Jersey, the group delivers effective corporate governance, high quality financial reporting and responsive administration services to a broad institutional customer base. Established over 25 years ago, Sanne currently employs c.300 people globally and has over €40bn assets under administration. Sanne delivers services to its international customer base through its office network in the Channel Islands, Luxembourg, London, Dublin, Dubai, Hong Kong, Singapore and Shanghai.

Growth strategy

Sanne partnered with Inflexion to accelerate organic growth by attracting top talent and further funding its international expansion, as well as help finance their consolidation ambitions.

Inflexion has been a very supportive partner and has also encouraged the team to challenge its ambitions, enabling us to create a step change in the business. Their guidance during both acquisitions was invaluable and helping us strengthen the senior team with high quality appointments leaves our business very well placed for the future. We look forward to building on our success to create value for our shareholders. Dean Godwin, CEO, Sanne Group plc

The Inflexion difference

At the time of transaction in October 2012, Sanne enjoyed an excellent reputation and good customer retention rates. The business had been growing for a number of years and the incumbent management team had built up a strong business with good systems and processes in place.

Through our knowledge and relationships in the sector we met Dean Godwin, the incoming CEO at Sanne. Working closely with Dean and his team, we supported two transformative acquisitions from State Street in June 2013 and May 2014. Both acquisitions added considerable scale, international reach and profitability to the Group.

Inflexion encouraged management to invest in highly skilled people, adding further strength to the team. During our partnership, headcount in the business grew by over 80%. Sanne drew support from Inflexion’s international experts in India and China to explore growth opportunities within those local markets; the business also expanded its footprint opening an office in Singapore. Between 2012 and 2014 the company generated revenue growth of 38% CAGR and EBITDA growth of 45% CAGR.

Sanne Group plc is now very well placed to capitalise on its growth opportunities as a public company. .