The acquisition is being made with an eye to tapping into the US West Coast's technology firms.
The international corporate, fund and wealth services business ZEDRA is acquiring London-based business expansion specialist Fitzgerald & Law, doubling its workforce in the UK, with an eye to supporting US West Coast technology firms entering the UK and other markets.
ZEDRA said yesterday that it is also acquiring the Global Expansion Advisory Network, a member organization that operates in around 70 countries, of which Fitzgerald & Law is a founding member. F&L provides tax, HR, financial compliance and other services supporting companies through different growth phases and will rebrand to ZEDRA as part of the arrangement.
The firm called the acquistion a “step change” in services that will substantially boost its presence in the fast-growing US technology sector, adding F&L's San Francisco offices, in what has been a busy run of merger activity.
F&L’s primary focus has been helping US companies establish and grow a UK presence, and advising firms globally on expanding in other territories. The partnership should also reap benefits from F&L’s “track record in multi-territory HR consulting, international tax compliance, corporate compliance and accounting services,” the group said.
ZEDRA's London presence will gain 70 staff from F&L and 14 in Romania that are providing outsourcing services, while F&L’s San Francisco offices will continue providing business development services to West Coast clients, it said. "Adding their knowledge and expertise to our group will significantly extend the support we can offer to our international corporate clients and help them optimize their global expansion strategies,” CEO Ivo Hemelraad said of merged opportunities for the firm which operates in 14 jurisdictions.
F&L’s senior partner Gabriel Parrish called the deal a “natural fit” based on ZEDRA’s global footprint and client base. “Our clients will now have access to an additional range of services to support their business ambitions,” he said.
Last week ZEDRA named Sally Orton as group chief financial officer in an expanded role that will also see her heading the operations side, including HR.
Lately, the firm has made a number of business acquisitions in Asia and Europe. It bought the corporate trust services provider Interben in Guernsey, acquired BNP Trust in Singapore and snapped up accounting and outsourced services specialist Awans in Poland to enter the Central European market.