GLAS Group acquires Paris-based Pristine, expands European footprint

Global Loan Agency Services Limited (GLAS Group) has completed its first acquisition by taking over Pristine, a Paris-based leader in trust and asset management. The deal, initially agreed upon in August 2023, received the green light after meeting regulatory approvals and closing conditions, culminating in March 2024.

Pristine, regulated by France’s Autorité des Marchés Financiers (AMF), offers a suite of services including fiducie, fund structuring, and administration, primarily aiding corporate financing for lenders in France. The acquisition aligns with GLAS’s growth trajectory since launching its French operations in 2018 under the leadership of Aymeric Mahe.

GLAS SAS, part of the GLAS Group, is distinguished as the sole non-bank entity regulated by the Autorité de Contrôle Prudentiel et de Résolution (ACPR) to manage loan transaction payments in France. The company is recognized for its expertise in direct and syndicated lending, high yield, leveraged finance, and capital market debt issuance, with a history of involvement in high-profile restructuring cases.

Founders Mia Drennan and Brian Carne expressed enthusiasm about the acquisition, highlighting the combined regulatory permissions and expertise that will enhance service offerings to their clients. Pristine’s leadership echoed the sentiment, anticipating a fruitful partnership and synergies that will benefit their clientele.

The acquisition marks a significant step for GLAS in providing a comprehensive range of services for debt origination and investment in financial transactions across Europe. Pristine will operate from GLAS SAS’s new Paris office on Avenue George V, with both entities maintaining separate regulations by the AMF and ACPR.

Following the acquisition, GLAS has also announced a partnership with Singapore-based Watiga, pending regulatory approval, further extending its global network.

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