ZEDRA has acquired Interconsult, Luxembourg International Consulting, one of the oldest trust service firms in Luxembourg.
Terms of the acquisition, which is subject to regulatory approval, have not been disclosed.
Interconsult was established in 1992 and is located in the centre of Luxembourg City. A founder member of Luxembourg International Management Services Association, Interconsult provides corporate, administrative and fiduciary services to both corporate and private clients.
Interconsult is also a member of Luxembourg Private Equity & Venture Capital Association, a non-profit association created in 2010 to represent, promote and protect the interests of the Luxembourg private equity and venture capital industry.
Interconsult will be fully integrated into ZEDRA's growing network of offices. The acquisition will increase ZEDRA's size to nearly 380 staff worldwide.
The acquisition is part of ZEDRA's growth plan to expand its business in carefully selected jurisdictions and adds to other recent acquisitions in the UK and the Netherlands. It will take ZEDRA's global presence to 11 jurisdictions.
The merger will add value to Interconsult's existing clients through ZEDRA's global business offering and network.
Interconsult's managing director Federigo Cannizzaro di Belmontino will remain in his current position after the acquisition and he will continue to be supported by 20 local staff.
Further strengthening Federigo's team is Frank Walenta, who has recently joined Interconsult as its commercial director.
Walenta was previously responsible for corporate services in Luxembourg and then in Germany for an international corporate service provider. In his previous role he advised and managed SPVs and the German inbound business of in particular international corporate clients, private equity and venture capital funds, family offices and HNWIs. He has been a board member to many leading international companies and private equity funds.
"As we grow our offices and develop our operations, we need to be where our clients want to do business," says Niels Nielsen (pictured), group chief executive officer, ZEDRA. "Luxembourg is that place and therefore constitutes a natural extension for us. It will be a key part of our global network and an important hub for us to provide trust, corporate and fund trust services to our clients, irrespective of their domicile."
Walenta adds: "It's terrific to be back in Luxembourg. It's absolutely the place for us to be in order to help our clients to achieve more. The service offering of ZEDRA is of the highest quality and Interconsult is a great match for ZEDRA. We differentiate ourselves by our personal relations and our customisation."
Di Belmontino says: "We are delighted to be joining the ZEDRA Group with its established global network. The merger will strengthen ZEDRA's presence in the market and we look forward to being a part of ZEDRA as it continues to grow. We are confident that our long standing industry experience in Luxembourg is a perfect fit with ZEDRA's service offering in strategic places across the world."