J.C. Flowers & Co. has agreed to acquire a 30 percent stake in LMAX Group for $300 million, valuing LMAX Group at $1 billion. LMAX Group is the leading independent operator of institutional execution venues for FX and crypto currency trading. The deal, announced July 15, is a secondary share sale by LMAX Group employees.
J.C. Flowers is a leading private investment firm dedicated to investing globally in the financial services industry.
Headquartered in London, LMAX Group operates five exchanges globally, serving clients in more than 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 crypto currency exchange, serving over 500 institutional clients and is the second largest bitcoin exchange globally.
The S&C team advising J.C. Flowers includes Mitchell Eitel, Vanessa Blackmore (London) and Oderisio de Vito Piscicelli (London).