JC Flowers, the buyout firm set up by former Goldman Sachs banker Christopher Flowers, has handed its first advisory mandate to Fox-Pitt, Kelton since buying the London-based financial services investment bank last year.

Fox-Pitt, Kelton will advise JC Flowers on its acquisition of a 60% holding in Italian private equity firm Euromobiliare Sim and the entirety of Italian investor Mid Industry Capital for a combined €140m ($189m).