Paddock Capital Markets acted as Financial Advisor to Aexlia in their sale to Zedra. We want to congratulate Phil and Alex Suhas for their success in building a great firm in Axelia, and wish them the best in their next chapter. We also want to welcome Zedra to the U.S.! Read the official press release below.
[UK / US / FRANCE] ZEDRA, a global specialist in Global Expansion and Corporate Services, Active Wealth and Fund Solutions today announces the acquisition of Axelia Partners in the US.
Axelia Partners has been privately owned by Alexandra and Philippe Suhas since 2013 and is headquartered in Boston (Massachusetts) with offices in New York. The company facilitates the US expansion of predominantly European headquartered businesses and entrepreneurs by providing all the administrative and accounting services necessary to operate compliantly in the US. Services include Talent Search, HR and Operations alongside Accounting, Financial Control, Tax Compliance and Payroll.
The announcement boosts ZEDRA’s Global Expansion and Corporate Service offering in the US, a core market for the firm, and enhances the company’s geographical presence.
The announcement follows the acquisition of Fitzgerald & Law in 2020, whose Global Expansion team already provide the full suite of award-winning tax, HR and financial compliance services to fast-growing US headquartered companies expanding into EMEA and beyond. The additional footprint of Axelia Partners will enhance ZEDRA’s capabilities to further support companies from all over the world expanding into other territories globally.
Ivo Hemelraad, ZEDRA Chief Executive Officer, commented, “We are delighted to welcome Axelia Partners to ZEDRA. The US is a key market for us, following the acquisition of Fitzgerald & Law in 2020 when we started to expand our corporate services reach to the US West Coast. Now, with the addition of Axelia Partners, we have a lead operation in the US for corporate services. Axelia Partners perfectly fits with our ambitious growth strategy and entrepreneurial spirit. The majority of Axelia Partners’ clients are European tech companies, so we see significant opportunities to extend the level of expertise and support we already offer to our international corporate clients. We are very much looking forward to working closely with Alexandra and Philippe’s team and welcoming them and their clients.”
Alexandra Suhas, Partner at Axelia Partners, said: “This is a significant milestone for Axelia Partners to strengthen our position as an industry leader. ZEDRA’s existing Global Expansion services across offices worldwide will bring additional scale, resources and expertise to our already fast-growing operations. ZEDRA’s approach to business is very similar to ours. Hence it is a natural fit and a logical step forward in our international growth plans. Our clients will now have access to a growing range of services to support their business ambitions, as well as continued access to the same people, the same culture and the same level of service.”
The deal will add 35 professionals to ZEDRA’s US teams currently based in Miami, San Francisco and New York.
Last week, ZEDRA announced a strategic minority investment* from British Columbia Investment Management Corporation (“BCI”), one of Canada’s largest institutional investors. This investment is made in partnership with ZEDRA’s management team, led by Executive Chairman Bart Deconinck and CEO Ivo Hemelraad, and the Company’s existing majority investor, Corsair, which remains the majority shareholder.