Helping Shamrock Capital investing in European business

The client

Shamrock Capital Advisors, LLC (“Shamrock”) is a private equity firm based in Los Angeles, California.

In 2017 Shamrock decided to invest, in partnership with certain other investors, in a translation business based in Sweden providing services for film and spoken media.

The challenge

Shamrock is based in the US and needed to engage specialized resources with local expertise, given European rules and compliance policies are very different to those in the US.

Shamrock needed a partner to help it establish a fully compliant holding company in Sweden and work with the other investors in the company.

Our solution

Intertrust Group provided to Shamrock its local knowledge, support and expertise on the ground in Sweden. We provided a one-stop solution including the provision of local directors, legal and financial administration, local registered address and helped deal with the tax authorities and ensured that compliance requirements and reporting were complete and on time.

The holding company’s audit and tax work had to be completed in Sweden and we were able to negotiate with third-party vendors on behalf of our client to achieve this. Having a local office to deal with auditors and tax advisors meant all correspondence could be done in both Swedish and English.

Our understanding of the local market meant we were able to minimise the stress.

“Intertrust Group did a lot of the heavy lifting for us in Sweden,” says Peter Rivera, Chief Financial Officer of Shamrock, who is based in Los Angeles, California.

“They put all the services together, negotiated with third parties and presented everything in a very timely and responsive way. Even though it was actually the holiday period in Europe, we were able to get things done quickly and efficiently.”

“When you hire a partner, you are looking for someone who is specialised in what they do; someone who understands the local market; and someone who can make your life easier. Even with the time difference involved, Intertrust Group answered queries and addressed issues in US time.”

The future

Following on from its positive experience working with Intertrust on the Swedish engagement, Shamrock worked again with Intertrust Group on an investment in a company based in the Cayman Islands, due to the complexities of the Common Reporting Standard (CRS) and anti-money laundering (AML) compliance in the jurisdiction. That engagement has also been a success. “We’ve had similarly good experiences with the Cayman Intertrust Group office, too,” says Rivera.

It is a partnership that Intertrust Group is also delighted to continue. Working with clients such as Shamrock to provide solutions to challenges and help them realise their goals is exciting and rewarding.

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