International tax, compliance, and accounting firm, Nair & Co, has been sold to private equity investor HgCapital.

Grant Thornton advised on the sale of Bristol-based Nair & Co, which specialises in setting up the required international entities and integrates legal, accounting, payroll, tax and human resources services required by companies expanding overseas. It has 450 staff and other offices in the US, Singapore, Japan and China.

Matthew Rourke, partner and head of HgCapital's services team, said: 'Companies are increasingly looking to expand into international markets but do not have the expertise or market knowledge to do so quickly or efficiently.'

A team from Grant Thornton in Bristol advised the vendor on the sale, but did not disclose the value of the transaction.

Shan Nair, co-founder of Nair & Co said: 'This transaction will enable us to further enhance and broaden the services we offer our clients while taking our business up to the next level and fast-tracking our growth rate.'