DC Advisory acts as advisor to ZEDRA on its refinancing

Background

• ZEDRA, originally a carve out of Barclays Global Trust, is a global specialist in Active Wealth, Corporate & Global Expansion, Pensions & Incentives and Fund services
• ZEDRA works with high net worth individuals and families as well as medium to large sized companies, pension funds and trustees, asset managers and their investors
• Corsair Capital LLC (Corsair), the sponsor, acquired ZEDRA in 2018 to build a global specialist platform
• British Columbia Investment Management Corporation (BCI) invested in ZEDRA in 2023
• Following successive incremental acquisitions, ZEDRA required a significant upsize of its existing facilities to continue to support the meaningful actionable M&A pipeline

Process

• DC Advisory was appointed by ZEDRA to provide debt advice in relation to the refinancing of its existing facilities
• DC Advisory managed a competitive process to secure preferred financing partners with flexible and scalable capital to support ZEDRA’s strategic ambition 
• DC Advisory advised ZEDRA on all interactions with diligence providers and potential lenders, while leading key commercial negotiations to deliver the right result

Outcome

• DC Advisory secured a highly completive debt package with a significant increase in committed financing to fund the M&A pipeline
• Pricing was reduced and commercial terms improved with increased flexibility to support ZEDRA’s growth plans
• Term lenders increased to two, providing greater optionality over the availability of follow-on capital via an accordion facility (in addition to committed acquisition lines)