Mazars, an internationally represented organisation specialising in audit, accounting, tax and advisory services, has announced its acquisition of Corality Financial Group (Corality). Corality is a leading financial modelling consultancy and training provider founded in Sydney, with offices in London and New York.
Mazars Managing Partner in Gauteng, Anoop Ninan states that after the acquisition, Corality will be integrated into the Mazars Global Infrastructure Finance team, which will comprise of more than 120 people in London, Sydney, Paris, New York, Delhi and Johannesburg.
“The collection of global expertise in this team will allow us to service all projects in Southern Africa and Africa. We are currently busy with various energy and telecoms projects in Southern Africa and West Africa and this merger provides additional capacity and expertise to draw on, in order to execute these projects timeously,” Ninan comments.
“The team will work as an integrated global team with significant skills transfer. We envisage an increase in the size of the Africa team over the next few years,” Ninan adds.
Ninan states that this is a significant strategic move for Mazars that will enable the group to increase its 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 for Mazars. Combined, we are a truly world-class infrastructure finance team.”
Corality is also not new to the African continent, most notably having provided transaction and financial modelling support to clients active in the early rounds of the renewable energy program in South Africa, as well as to international mining firms appraising mining investments in sub-Saharan Africa.
“This deal is a key milestone in our growth plan to develop a global, integrated infrastructure finance team that operates in all major markets. Our highly experienced teams will provide a one-stop service for infrastructure sector clients offering financial modelling, model audit, training, transaction advisory and valuation services across the globe,” states Mazars Head of Global Infrastructure Finance, Bob Green.
Green adds that this deal opens the door for significant growth.
“We could certainly see building a South Africa-based team over the coming years, delivering a full range of advisory and assurance services to both local and international clients interested in investing in infrastructure in sub-Saharan Africa,” Green concludes.