Global compliance and regulatory provider Cordium has announced the acquisition of HedgeStart, a UK tax, accounting and regulatory consultancy which focuses on the investment management and securities industries.

This is a second acquisition by Cordium, shortly after it purchased The Sigma Partnership in December 2013.

The HedgeStart acquisition means Cordium can now offer high end corporate and private client tax capability within its range of client services. The move also expands its core compliance specialism and provides a further boost to its regulatory accounting division.

All of HedgeStart's staff and the majority of its partners will be joining Cordium, including HedgeStart's founder and managing partner, Matthew Wilson, who will become an advisory consultant to Cordium.

HedgeStart's regulatory compliance consultants will join Cordium's UK compliance consulting team, working under the leadership of director Philip Naughton, while its accounting and tax teams will merge with Cordium's regulatory accounting division under the leadership of HedgeStart partner Rob Edwards.

Cordium's managing director of EMEA, Stephen Burke, , said 'There will be no change for HedgeStart's existing clients, save for the fact that through Cordium they will now have access to additional UK and global resources, offering a wider range of services and greater depth of support.'

Michel van Leeuwen, group CEO of Cordium, said: 'The lines between compliance, regulatory accounting and tax have become blurred. We know from our clients that there is now real demand for holistic advice across these areas from a single, trusted global provider. Acquiring HedgeStart with its well-deserved reputation, and absorbing its expertise, allows Cordium to strengthen its position in that role.'

Wilson said he expected clients to benefit from Cordium's increased size, global reach and considerable international regulatory expertise. 'Furthermore, this deal is also a ringing endorsement of the calibre and professionalism of the HedgeStart team, who will now continue the delivery of our existing services under Cordium,' he said.

The deal was funded by Cordium's private equity sponsors, Sovereign Capital, as part of its long-term strategy to grow the business both organically and through acquisition.

Cordium expects to continue making further acquisitions in 2014.