KPMG’s former Restructuring practice launches as Interpath Advisory

Press Release

KPMG’s former Restructuring practice launches as Interpath Advisory

Interpath Advisory, formerly KPMG’s UK Restructuring practice, is delighted to announce its launch as the UK’s largest top-tier independent restructuring and turnaround business following completion of its sale to H.I.G. Europe, the European affiliate of H.I.G. Capital, LLC, and Interpath’s managing directors.

Interpath Advisory is a leading multidisciplinary practice of 43 managing directors and approximately 507 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 the issues associated with economic disruption and to overcome financial and operational challenges.

The new company draws on a 50-year track record of developing innovative approaches to complex restructuring problems, such as pioneering the use of company voluntary arrangements and taking the first appointment of the special administration regime introduced for insolvent financial institutions. In recent years, its people have led on high-profile engagements including the administration of intu properties plc; the liquidation of Thomas Cook’s retail division; and the administration of Monarch Airlines.

Blair Nimmo, Mark Raddan and Will Wright have been appointed to the board of Interpath Advisory, having collectively led this transaction for over 10 months.

John Connolly, former CEO of Deloitte UK and Chairman of the Deloitte Global Board of Directors, has been appointed Chairman of the Board of Interpath. John has chaired a number of PE backed companies and currently chairs G4S PLC and previously chaired AMEC Foster Wheeler PLC.

Blair Nimmo commented: “This is a significant day for our business, and comes at a time when business leaders, boards and stakeholders are grappling with a myriad of issues, from overcoming financial and operational stress and distress, to recovering and protecting value."

“As an independent, conflict-free business with an experienced team at the helm, we will have the freedom to anticipate and react to the challenges faced by our clients with even greater agility. We’ve already had an overwhelmingly positive reaction to news of our sale from our clients and our people, and we are looking forward to hitting the ground running.”

Will Wright said: “Our vision for Interpath is to build upon our proud heritage and strong UK footprint, and expand both the portfolio of services that we offer and the markets that we serve to become a truly international advisory business. We also want to ensure this remains an inclusive and forward-thinking place where we can attract and retain the very best talent, and where our people can thrive and develop fulfilling careers.”

Mark Raddan added: “We would like to thank KPMG for their full support throughout this transaction, and we part as firm friends. Moving forward with H.I.G.’s backing and our team of extraordinary people, we’re looking forward to continuing to help organisations large and small navigate the challenges ahead and ultimately, help them find their right path.”

Nishant Nayyar, Managing Director at H.I.G. Europe, commented: "We are excited about today's launch of Interpath Advisory as an independent business. We are impressed by the professionalism and expertise of the Interpath management team and fully support their vision of building the premier independent restructuring advisory business in the UK and beyond. We are proud to partner with Blair, Mark, Will and the entire team and look forward to supporting Interpath's continued growth while maintaining its unique and distinct culture.”

John Connolly commented: “In the highly complex markets which will face many companies in the years ahead Interpath is strongly positioned to support businesses with its broad range of skills and deep experience. The team are highly motivated to build the business as an independent company creating a position of distinction in its chosen markets.”

 


Contact us

For more information, contact Katy Broomhead at katy.broomhead@interpathadvisory.com

Katy Broomhead

Katy Broomhead

Head of Communications