Background

  • ZEDRA Group (ZEDRA), a carve out of Barclays Global Trust, is a global alternative specialist in trust, corporate and fund services
  • ZEDRA delivers a range of wealth, governance and administrative solutions to multinational corporations, occupational pension schemes, (U)HNWIs and families, and investment managers
  • 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)

“We are proud to have represented ZEDRA on this comprehensive refinancing. The new debt package will support the company through this next stage of growth. The transaction demonstrates the continued strength of DC Advisory’s market leading Debt Advisory Group"

Ciara O’Neill
Managing Director, DC Advisory UK