Kroll unifies brand of subsidiaries Prime Clerk and Lucid Companies

08 April 2022 3 min. read
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Kroll has further unified its global brand, with Prime Clerk and Lucid Companies both retiring their own corporate identities. The move builds on four years of consolidations at the firm, as it diversifies its offerings beyond its restructuring roots.

In 2018, the firm then known as Duff & Phelps announced it had acquired Kroll. Duff & Phelps specialised in corporate turnaround services, while Kroll’s purchase opened the door to taking on other offerings including complex investigations, security and cyber solutions.

Four years on, Duff & Phelps has retired its own branding, and adopted the Kroll name globally – while continuing a rapid acquisition campaign that has enabled it to move into more professional services markets.

Kroll unifies brand of subsidiaries Prime Clerk and Lucid Companies

Buoyed by a $4 billion investment from backers at Stone Point Capital and Further Global, Kroll has continued to bolt on a variety of new companies.

This included the 2020 acquisition of Lucid Companies. As part of the deal, Kroll acquired Lucid Issuer Services, a European restructuring and liability management platform, while Lucid Agency and Trustee Services supplemented the firm with bond trust and agency solutions for private debt and capital markets.

The deal built on the 2019 acquisition of Prime Clerk. This gave the firm access to claims administration services through Prime Clerk’s proprietary software and industry-leading team. Supplementing the arrival of Kroll within the group, this created a suite of dispute, investigation and claims administration services for the legal market.

One roof, one brand

Now, as the company looks to present a united front and go-to-market under one roof, Kroll has announced that Prime Clerk and Lucid Companies will be unified under the Kroll brand. Moving forward Prime Clerk will now become Kroll’s Restructuring Administration practice and Lucid Agency and Trustee Services will become Kroll’s Agency and Trustee Services practice.

Shai Waisman, President of Kroll, commented, “We continue to focus on anticipating and meeting the complex needs of all of Kroll’s clients. Our launch of Kroll Business Services last year brought together innovative, industry leading businesses to create the most comprehensive suite of complex administration services in the market. Unifying under the Kroll brand allows us to reinforce the depth and breadth of expertise accessible to our clients across our expansive portfolio of solutions.”

The data, technology and insights firm has also launched its new Issuer Services practice, which combines Lucid’s expertise in EMEA and APAC with Prime Clerk’s expertise in North America to provide global solutions for liability management transactions.

Combined, these recognised leaders have managed more than 2,500 deals across all market sectors globally, including some of the largest and most complex financial transactions in the market.

Jessica Stamelman, President of Kroll Business Services, said, “We’ve repositioned the strategic structure of our Issuer Services practice to address the needs of our clients across the globe. Bringing our industry leading teams together makes us the only company with the ability to administer any restructuring, liability management or corporate action transaction globally – a critical step toward supporting our clients wherever they are based.”