Independent advisory firm Ondra Partners is targeting a push into Germany and a stronger presence in Italian dealmaking after recruiting two experienced local company directors as senior advisers to help focus on winning work in those countries.

Ondra, which was set up by former Lehman Brothers bankers Michael Tory and Benoit D'Angelin and ex-HSBC banker Michael Baldock in 2008, has never worked on a deal in Germany. In Italy, it has worked on two deals -- advising the appliance maker Indesit on its €1 billion sale to Whirlpool in 2014 and advising power generation company ERG Renew on the sale of a stake to UniCredit in December 2013.