Alter Domus, the leading independent Luxembourgish provider of outsourced administration services to multinationals and alternative investment funds, agreed to acquire Fideos Luxembourg. Fideos, a sister company of Atoz Tax Advisers, is also an independently owned and operated firm offering corporate trust and fund administration services.

The boards of directors of both firms have approved the deal which is expected to close by 30 June, subject to regulatory approval. Fideos’s partners will become shareholders and join management teams of the combined firm.

This acquisition creates a powerhouse in the Corporate Management Services business and builds up critical mass in the Alternative Funds Administration market in Luxembourg. The combined turnover of both firms would represent over € 65 million and include approximately 500 employees in 12 different offices around the world with the majority of employees located in Luxembourg.

There is also good news for the Luxembourg labour market because Alter Domus does not foresee any changes in its current aggressive recruitment goals, during or after the acquisition.

Dominique Robyns, managing director of Alter Domus said that the two companies would fit well together: “Fideos’s core focus on real estate and private equity will give us more depth in these sectors. Both firms have a similar culture of excellence and a high-end market focus. We also considered the fact that both organizations were independently owned and operated and that there is good chemistry between the management of both firms. After reviewing all of these factors, we knew that Fideos was a great match for us.”

Geraldine Schmit, partner of Fideos Luxembourg commented: “Alter Domus’s international presence and technology platform make it the perfect strategic fit with our current palette of services and capabilities. The acquisition will widen the respective client bases and give our clients access to Alter Domus’s global footprint and technology.”

Acquiring Fideos will bolster Alter Domus’s position in the Luxembourg market as the leader in Corporate Management Services and Alternative Funds Administration. Additionally, these new capabilities will advance Alter Domus’s plans to become a global leader in these fields.

The management of both firms agree that the combined group will have increased depth and breadth to allow it to continue to invest to better meet the needs of all clients locally and globally.