Global financial services provider Apex Group is considering small acquisitions to add complementary technologies and expand its clients’ distribution channels to accelerate their growth, founder and CEO Peter Hughes said.

Apex, which is headquartered in Bermuda, has acquisition candidates on its radar and is in contact with some of them, Hughes said. However, the company is prioritising organic growth for the next 12 months and it is unlikely that the next deal will take place within six months, he added.

Any deals will be financed with cash, he said without providing details of potential target sizes.

Apex Group works with multiple advisors including Goldman Sachs, JP Morgan, Bank of America, Morgan Stanley, and Macquarie among the investment banks, law firm Kirkland, and A&M for digital due diligence, he said.

The group could reconsider looking at large deals in a year or two, Hughes said, adding that its acquisition strategy at that point will depend on how the financial markets have developed.

Apex Group has closed 45 acquisitions since it was founded in 2003, he said. Its most recent acquisition was in May, when it bought a majority stake in Tokeny, which provides enterprise-grade tokenisation solutions. The 30-person business has been fully integrated, Hughes said.

In April this year, the group acquired FTS Tech (Flow), which provides a platform for insights, transparency and dialogue between fund managers and investors, law firms, fund administrators, banks and accounting firms.

The current priority is growing organically, Hughes said. Apex is focused on connecting the technologies it has developed in-house and acquired, expanding its offering of new digital tools and technologies in areas such as tokenization and AI-driven solutions, he said.

The objective is to bridge the gap between traditional finance (TradFi) and decentralised finance (DeFi), creating a more future-ready platform for clients, he added.

In the past few years, Apex has been growing its undisclosed revenues at an annual average rate of 10%, Hughes said, adding that most of the growth was generated organically. The 13,000-person group is profitable, he said.

While a public listing in the US or in the UK in three to five years is an interesting option, no concrete steps in this direction are expected for a year or two, Hughes said. Apex must reach an EBITDA goal before considering an IPO, he said, declining to provide figures.

The group has no need to raise capital now and for the next few years, he said. Apex received its most recent investments from TA Associates, Carlyle, and Mubadala Investment Company in 2021. The majority shareholder is Genstar Capital, as reported.

Apex is also working to further expand its international presence, the CEO said. In 2026, it expects to open three to four offices, and is looking at Qatar, and at one location each in Africa, in Asia and in Latin America, he added.

Apex Group offers services including fundraising, fund administration, digital onboarding, bank accounts and corporate depositary services to asset managers, financial institutions, private clients, and family offices.