The Boardroom - Meet the speakers 2020 | Alumni | The University of Sheffield sheffield.ac.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sheffield.ac.uk Daily Mail and Mail on Sunday newspapers.
(2)
H.I.G. Capital, LLC ( H.I.G. ), a leading global alternative investment firm with over €35 billion of equity capital under management, is pleased to announce that one of its affiliates has signed a definitive agreement to acquire KPMG s UK restructuring business, a leading provider of insolvency, financial restructuring and turnaround services in the UK and globally. Terms of the transaction, which is expected to complete in April 2021, were not disclosed.
KPMG UK Restructuring is a leading multidisciplinary practice of approximately 22 partners and 528 staff located across the full breadth of the UK. The group advises companies, lenders, equity holders and a wide range of other stakeholders including Government, regulators and pension trustees to navigate through the issues associated with economic disruption and overcome financial and operational challenges.
KPMG unit sale creates new restructuring behemoth Interpath Advisory
KPMG has agreed the sale of its restructuring arm to HIG Europe, creating a new restructuring company in the process.
KPMG has signed an unconditional agreement to sell its restructuring practice to Interpath Advisory, a newly-formed company backed by private equity firm HIG Europe.
The sale will see 22 partners and around 528 staff currently employed in KPMG’s restructuring practice transfer to Interpath Advisory, making it the largest independent restructuring and turnaround business in the UK.
KPMG did not release the numbers on what the deal is worth, but it has long been rumoured to be in the region of £400m.
KPMG to sell restructuring arm in £400m deal cityam.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cityam.com Daily Mail and Mail on Sunday newspapers.
A heavyweight pack of private equity firms is circling the big four auditor KPMG as it prepares to offload its restructuring operations in the UK.
Sky News has learnt that Intermediate Capital Group (ICG) and Towerbrook Capital Partners are preparing to lodge initial bids for the business ahead of a deadline later this month.
City sources said that offers could value the KPMG UK restructuring division - which advises companies on safeguarding their balance sheets during periods of financial distress - at more than £400m.
The accountancy firm has kicked off a sale as the reform agenda dominating the audit profession enters what is likely to be a critical year.