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Pacific Equity hires Barclays for AmStock sale: sources

The sale of American Stock Transfer & Trust is moving forward.

Pacific Equity Partners tapped Barclays to run the auction of American Stock Transfer, two banking sources familiar with the transaction said. Pacific Equity is expected to seek $1 billion for the company, Buyouts has reported.

It’s unclear when or whether books for American Stock Transfer have gone out. The auction is expected to begin in September, when Wall Street returns from summer vacation, a third banker said.

Founded in 1971, New York-based AmStock provides stock-transfer and employee-plan services to more than 2,800 public companies, its website said. Clients include Apollo Global Management, Microsoft, Siemens AG and State Street.

The sale is expected to appeal more to strategics, like Computershare Ltd, than to private equity, a fourth banker said. “It’s purely a scale business,” this person said.

Computershare, of Melbourne, provides similar services, like corporate trust, stock transfer and employee share plans.

Pacific Equity invested in American Stock Transfer in 2008. That deal was valued at about $1 billion. Since then, AmStock acquired AST Fund Solutions LLC in 2011 and D.F. King & Co in 2014.

Pacific Equity had planned to combine AmStock with another of its portfolio companies, Link Group. Soon after the firm bought American Stock Transfer, the 2009 financial crisis hit and company earnings fell, the Australian Financial Review reported. Pacific Equity then took Link public in October, press reports show.

The Australian Financial Review previously reported news of Pacific Equity hiring Barclays. 

Pacific Equity declined comment. Barclays, American Stock Transfer and Computershare couldn’t be reached for comment.

Action Item: Contact Pacific Equity Partners: +61 2 8238 2600.

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