Mazars, an international accounting, auditing and tax firm, has signed a deal to acquire Corality Financial Group, a financial modeling consultancy and training course provider with offices in Sydney, London and New York.
The acquisition is set to take effect in August. As part of the deal, Corality’s 40 staff members will join Mazars’ project finance team, for a total of more than 120 professionals. They plan to provide project financial advisory and transaction services, project valuation, financial modeling and training services, and audits of financial models. The combined firm will have infrastructure finance teams in London, Sydney, Paris, New York, Delhi and Johannesburg, working together with Mazars offices in 77 countries that provide tax and accounting advice. Mazars has approximately 17,000 professionals around the world. New York-based WeiserMazars LLP is Mazars’ member firm in the U.S.
“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,” said Mazars International Board member and U.K. senior partner Phil Verity in a statement.
“Corality is renowned for its exceptional financial modeling consultancy and training academy and is a great match with Mazars. Combined, we have a truly world-class infrastructure finance team.”
Corality has worked on more than 1,000 financial modeling projects and had over 4,500 participants in its training courses. The firm’s global revenue totaled €8.26 million ($9.18 million).
“We are an entrepreneurial company with demonstrated global knowledge and the highest levels of client service, available to work with clients wherever they are,” said Corality Group CEO Rickard Wärnelid in a statement. “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.”
