Sovereign’s Cordium picks up HedgeStart

The deal marks Cordium's second acquisition in two months, following its purchase of Sigma Partnership at the end of last year. Under Sovereign's stewardship, Cordium has made a total of six bolt-on acquisitions. 

Previous investment
Sovereign's investment in the global compliance and regulatory services provider began in December 2010, when the buy-and-build specialist acquired IMS Consulting Group. The company changed its name to Cordium last year.

Since investing, Sovereign has supported the acquisitions of software provider HedgeOp in January 2012, and the outstanding shares in Cordium's New-York based subsidiary IMS Consulting US in February 2012.

Company
HedgeStart provides UK tax, accountancy and regulatory compliance consulting services to the investment management and securities market. Established in 2000, the company is headquartered in London and counts more than 500 clients on its books.

Sigma is a London-based provider of accounting and regulatory compliance services to FCA-regulated wholesale investment firms.

Cordium was founded in 1997 by Scott Wilson to provide compliance services for the wholesale asset management and securities industries.

People
Neil Cox is a director at Sovereign. Michel van Leeuwen is group CEO of Cordium.

Advisers
Equity – Liberty Corporate Finance, Stephen Thompson (Corporate finance); Alvarez & Marsal, Phil Mitchell (Financial due diligence); Pinsent Masons, Tom Leman (Legal); EY, Harry Nicholson (Commercial due diligence).

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• Topics
• UK / Ireland
• Support services
• Expansion
• Sovereign Capital
• United Kingdom
• Acquisition finance