ATOZ Group announces investment in corporate services specialist, ATOZ Services

By Holly Whatling for ATOZ, January 23 2023
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ATOZ Group announces investment in corporate services specialist, ATOZ Services. ATOZ Group, the Luxembourg based group of independent advisory and services firms, has agreed an investment in ATOZ Services from financing partner, ICG. The terms of the transaction have not been disclosed.

ATOZ Group was founded in 2004 by a group of Partners and their teams, formerly of Andersen and E&Y, with the creation of the advisory firm ATOZ Tax Advisers, now one of the leading Luxembourg providers of a comprehensive range of tax solutions. ATOZ Group has significantly grown its client base and service offering over time and, in 2018, ATOZ Services – a sister company of ATOZ Tax Advisers – was formed.

ATOZ Services provides a full suite of corporate and tax compliance services to Luxembourg domiciled entities managed by alternative fund and corporate clients. Services include corporate administration; domiciliation & accounting; fund administration; and tax reporting services. ATOZ Services has over 800 clients, primarily in the illiquid alternative fund space (>90% of revenue), and services over 3,000 structures. The business has 140 highly qualified and long-serving staff across its Luxembourg and Morocco offices.

The investment from ICG will support ATOZ Services growth trajectory by expanding its service lines for new and existing clients, whilst supporting its expansion into new geographies. This will be achieved through a combination of continued organic growth and by leveraging ICG’s capital and experience to support M&A. ICG is a global alternative asset manager with a track record of over 30 years. Listed on the London Stock Exchange, ICG currently has $68.5bn of assets under management across a range of strategies from offices in 15 countries and 575 employees.

Keith O’Donnell, Managing Partner of ATOZ, commented: “This is an exciting milestone for ATOZ. The partnership with ICG maintains the ATOZ Services relationship with ATOZ Group and its sister company ATOZ Tax Advisers, ensuring continuity for staff and clients. At the same time, we welcome ICG as investors and partners into our ATOZ Services business to support the next phase of our growth journey.”

Mark Piasecki, Managing Director at ICG, added: “We have followed the impressive growth journey of ATOZ Services since its inception and are delighted to be its new partner. We see further growth in the market of alternative fund services and an opportunity to build on ATOZ Services’ reputation for the highest levels of client service underpinned by its expertise and technical capability. ATOZ Services provides the perfect platform to expand into adjacent fund services and complimentary geographies to serve its growing and international fund client base. We look forward to working closely with Jean-Michel and the talented management team to fulfil its significant potential.”

Jean-Michel Chamonard, Managing Partner of ATOZ Services, said: “We are excited to have found in ICG strategic partners who share our vision for the future of ATOZ Services. Their understanding and appreciation of the unique strengths of our business, coupled with their experience, capital and relationships mean they are well placed to accelerate our growth and acquisition-based strategy.”

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