M and A

Deals Of The Day: The Latest In Wealth Management M&A, ZEDRA

Editorial Staff, 12 February 2020

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The latest M&A deals in wealth management across Europe.

ZEDRA
Acquisition hungry ZEDRA is entering the Central European market with the purchase of Awans Corporate Services. Its target is one of Poland’s oldest corporate services firms - an organisation which has been offering accounting and administration services to corporations and local businesses for two decades.

The acquisition marks a busy 12 months of M&A activity for ZEDRA, including deals in the Isle of Man, Switzerland, the Nordic market and buying BNP Paribas Wealth Management’s trust business in Singapore.

The Polish buyout will give ZEDRA access to local entrepreneurs and mid-sized companies through Awans’ accounting, human resources and payroll management services. The company also offers incorporation services, cash management and business advisory.

“This latest deal will mark our first move into the vibrant and fast growing Central European markets. With a population of nearly 38 million, together with a strong tradition for business startups and growth, we see Poland as a dynamic and important new market,” Zedra CEO Ivo Hemelraad said. The purchase will bring ZEDRA’s headcount to over 550 in 14 countries, the London-based trusts and funds specialist said.

Awans founder Piotr Augustyniak will become ZEDRA’s head of Central Europe once the deal closes and his company of around 20 staff will work under a rebranded ZEDRA Poland.

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