Corsair-backed Zedra buys Fitzgerald & Law

Harriet Matthews
14 September 2020

Tweet
Facebook
LinkedIn
Google plus
Send to

Switzerland-headquartered corporate fund services provider Zedra, a portfolio company of Corsair Capital, has acquired UK-based Fitzgerald & Law (F&L).

F&L will be rebranded as Zedra following the acquisition. The deal also comprises F&L's Global Expansion Advisory Network, in which F&L is a founding firm, according to a statement.

Corsair acquired a majority stake in Zedra in November 2018 via Corsair V Financial Services, which held a final close in February 2020 on $1bn, following a first close in March 2018 on $420m. The fund writes equity tickets of $50-100m and focuses on businesses with an enterprise value of $100-500m.

Unquote sister publication Mergermarket reported in March 2020 that Zedra was seeking to expand in Europe and the US via add-on acquisitions, which would be funded by working capital and debt. Zedra acquired BNP Paribas Singapore Trust Corporation in January 2020, followed by Poland-based market peer Awans Corporate Services in February 2020.

The firm expects to generate revenues of £108m in 2020, according to Mergermarket.

Company
Founded in 1992, F&L provides advice to companies expanding to the UK, including on HR, tax and financial compliance. Its global expansion advisory network operates in 70 countries and offers advice to businesses expanding to countries beyond the UK. It is headquartered in London, where it employs 70 people, and it employs 14 further staff in its Romanian office.

People
Zedra – Ivo Hemelraad (CEO).
Fitzgerald & Law – Gabriel Parrish (senior partner).
Corsair Capital – Raja Hadji-Touma (partner).