New York – Duff & Phelps, the global advisor that protects, restores and maximizes value for clients, today confirmed the completion of its previously announced acquisition of Lucid Issuer Services, Lucid Agency and Trustee Services and Fluyd (the “Lucid Companies”), Europe’s leading providers of securities solicitation and loan and bond services solutions.
The Lucid Companies will join Prime Clerk, acquired in 2019, as part of Duff & Phelps’ comprehensive business services offering. The combination of Prime Clerk, a leading provider of complex claims administration and business services, together with the Lucid Companies will create a unique service offering for clients inclusive of a global solution for a wide range of debt restructuring and liability management services.
Shai Y. Waisman, Global Head of Business Services at Duff & Phelps and CEO of Prime Clerk, commented, “With this transaction, we are able to provide clients with best in class global restructuring, loan and bond agency, and trustee solutions. This transaction marks an important step in expanding the Business Services division’s geographic footprint and the comprehensive set of services that we offer to our clients. I look forward to further expanding our practice and our continued success now that the Lucid Companies are part of the Duff & Phelps family.”
“This is an exciting next chapter for us,” added Sunjeeve Patel, Managing Director at Lucid Issuer Services, on behalf of the Lucid Companies. “We look forward to working with Shai and the rest of the Business Services team to provide clients with the highest-quality agency and trustee services along with associated restructuring solutions in the market. With Fluyd, Duff & Phelps will benefit from a proprietary technology platform for unlisted assets.”
About Duff & Phelps
Duff & Phelps is the global advisor that protects, restores and maximizes value for clients in the areas of valuation, corporate finance, disputes and investigations, cyber security, claims administration and regulatory issues. We work with clients across diverse sectors on matters of good governance and transparency. With Kroll, the leading global provider of risk solutions, and Prime Clerk, the leader in complex business services and claims administration, our firm has nearly 4,000 professionals in 25 countries around the world. For more information, visit www.duffandphelps.com.
About the Lucid Companies
Lucid Issuer Services is the market leading tender, exchange, tabulation, identification and information agent in Europe. It assists issuers of bond and bank debt, together with their legal and financial advisors, with the implementation of complex restructurings and liability management transactions. The firm has been authorised and regulated by the FCA since 2012.
Lucid Agency & Trustee Services provide agency and trustee services to sponsors, corporates and financial institutions across a diverse range of debt financings, specializing in the private credit, acquisition finance, infrastructure and restructuring markets.
Fluyd provides agents, issuers, investors and investment banks with the tools they require to manage the lifecycle of illiquid assets and claims. Their proprietary technology knits together the issuance, administration and secondary market of illiquid assets giving all stakeholders increased accessibility, transparency and visibility. For more information, visit Lucid Issuer Services, Lucid Agency and Trustee Services and Fluyd.
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