Lexicon Partners, the London-based financial services corporate finance boutique, has advised on its second deal in two days, working for Edward Lumley Holdings in the UK on its sale to an Australian conglomerate.

Wesfarmers is set to acquire the Australian and New Zealand insurance businesses of Edward Lumley for A$375m (€219m) including debt, and the deal is Lexicon's first in Australia. Many advisory boutiques find it particularly hard to get involved in crossborder deals if they operate out of just one country as Lexicon does, so the deal is a milestone for the firm. The existing Edward Lumley shareholders will retain their UK and Irish operations.