Mazars has announced it is to acquire Corality Financial Group, specialising in financial modelling, model audit and training, in a bid to ramp up its services for the infrastructure finance market and extend its international reach
The terms of the deal have not been released, but the acquisition is due to complete in August.
Mazars says its project finance team will combine with Corality to create an integrated team of some 120 professionals, offering a one-stop service for project financial advisory and transaction services, project valuation, financial modelling and training services.
Phil Verity, Mazars UK senior partner, said: ‘This acquisition is a significant strategic move for Mazars that will enable us to increase our footprint in infrastructure finance and to partner with clients in any jurisdiction from Asia-Pacific to EMEA, to the Americas.
‘Corality is renowned for its exceptional financial modelling consultancy and training academy and is a great match with Mazars. Combined, we have a truly world class infrastructure finance team.'
Corality is a privately-owned financial modelling practice founded in Sydney with offices in London and New York, employing more than 40 staff. The company offers both financial modelling consulting and specialist training courses and has a global turnover of €8.26m (£6.9m).
There will be dedicated infrastructure finance teams in London, Sydney, Paris, New York, Delhi and Johannesburg linking with Mazars offices in 77 countries for tax and accounting and local advice.
Rickard Wärnelid, Corality Group CEO, said: ‘Mazars is a global firm with the infrastructure and resources that will enable us to continue to grow, enter new markets and offer clients a wider range of services. We have big ambitions and I am excited about the opportunities this combination brings, for all our clients and staff.’
