Global Loan Agency Services (GLAS), a portfolio company of Levine Leichtman Capital Partners (LLCP), signed an agreement to acquire Pristine SAS. Headquartered in London, with offices in France, Germany, the United States and Australia, GLAS is a provider of loan administration, agency and trustee services globally.
Founded in 2016 and headquartered in Paris, France, Pristine is an asset and trust management firm. It provides a range of services supporting restructuring and asset management teams within both global and domestic financial institutions and asset managers.
This transaction would represent GLAS’ first acquisition following LLCP’s investment and is subject to regulatory approval and customary closing conditions.
“We are delighted to partner with Pristine as the firms offer complementary services that will be highly valued by our enlarged client base,” Mia Drennan and Brian Carne, co-founders of GLAS, said in a joint statement. “Pristine’s capabilities in fiducie and management company services will be very relevant for our clients. We are excited to welcome the Pristine team into the GLAS family.”
“We are thrilled to support GLAS’ acquisition of Pristine, which is a highly strategic and important initiative for GLAS,” Josh Kaufman, head of Europe at LLCP, said. “The addition of Pristine’s unique service offering is complementary and additive to GLAS and will allow the company to further support and grow with its clients across the European market. We look forward to continuing to support the GLAS management team as the company continues on its impressive growth journey both organically and through M&A.”
GLAS is a portfolio company of Levine Leichtman Capital Partners Europe II.
LLCP was advised by Willkie Farr & Gallagher and Simmons & Simmons.
