Rothschild & Co, the parent company of the Rothschild Group, has agreed to acquire L&Co Belgium, which provides financial advisory services to a diversified set of clients including large corporates, public sector entities and private equity groups.

As part of the deal, Frank Demoen and Yves Vervaet – founding partners of L&Co – will join the global financial advisory (GFA) business of Rothschild & Co as managing directors.

Additionally, a team of seven bankers will also join Rothschild together with Remmert Laan, who will serve as senior adviser to Benelux GFA business.

This deal is expected to allow Rothschild to considerably enhance its market position in Belgium. L&Co was created as a spinoff from Leonardo & Co in 2015.

Rothschild said that L&Co founders will work closely with its Transaction R team in Belgium, led by Fabien Lenoir. The team targets transactions with a value below EUR100m.

Rothschild GFA head Robert Leitão said: "We look forward to working with them and building on/ expanding on the success of our existing team in the region."

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Demoen and Vervaet said: "We are looking forward to growing our product capability for our existing and future clients and diversifying our product offering as a result of this partnership."