LONDON, July 13, 2016

Mazars, the independent international organization specializing in audit, accountancy, tax and consulting services, today announces it is to acquire Corality Financial Group (‘Corality’), a market leader in financial modelling, model audit and training. The deal is due to complete in August.

The combination of Mazars’ project finance team and Corality creates a unique offer to the infrastructure finance market:

– a highly experienced and strongly resourced team of over 120 professionals, offering a one-stop service for project financial advisory and transaction services, project valuation, financial modelling and training services;
– the number one ranked model auditor globally;
– sector expertise across energy, economic and social infrastructure, PPP and natural resources;
– global coverage with dedicated infrastructure finance teams in London, Sydney, Paris, New York, Delhi and Johannesburg linking with Mazars offices in 77 countries for tax and accounting and local advice.

International Board member and Mazars UK Senior Partner Phil Verity, comments, “This acquisition is a significant strategic move for Mazars that will enable us to increase our 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 with Mazars. Combined, we have a truly world class infrastructure finance team.”

Corality is a privately-owned financial modelling practice founded in Sydney with offices in London and New York, employing more than 40 staff. They hold a unique combined position of a highly regarded financial modelling consulting firm and a leading specialist training course provider, supported by over 1,000 modelling projects and over 4,500 course participants. The global revenue of €8.26m has been built on high profile projects including Gemini (the biggest wind farm financing in the world), WestConnex toll road project in Sydney (AUD 3.5 billion of financing) and the acquisition of Freeport LNG, a world-class LNG receiving and regasification terminal in Freeport, Texas.

Corality Group CEO Rickard Wärnelid says, “We are an entrepreneurial company with demonstrated global knowledge and the highest levels of client service, available to work with clients wherever they are. Mazars is a global firm with the infrastructure and resources that will enable us to continue to grow, enter new markets and offer clients a wider range of services. We have big ambitions and I am excited about the opportunities this combination brings, for all our clients and staff.”


– Realizes the ambition to be the world leader in financial modelling, model audit and related training services for the infrastructure finance sector.
– Creates an integrated team of over 120 professionals, servicing clients around the world, from regional hubs in London, New York and Sydney.

About Mazars

Mazars is an independent international organization specializing in audit, accountancy, tax, legal and advisory services. As of 1st January 2016, Mazars operates throughout the 77 countries that make up its integrated partnership. We draw on the expertise of 17,000 professionals to assist major international groups, SMEs, private investors and public bodies at every stage of their development.

About Corality
Corality Financial Group is a boutique financial modelling consultancy and training course provider specializing in infrastructure, renewable energy, utilities and natural resources. With offices in Sydney, London and New York, Corality have worked with clients in over 57 countries, providing financial model development, model audit and training courses.