HIG Europe’s Acquisition Of KPMG’s UK Insolvency And Restructuring Advisory Business

Herbert Smith Freehills has advised KPMG on the deal, while Simpson Thacher acted for HIG Europe.

KPMG sold its UK insolvency and restructuring advisory business to private equity firm HIG Europe.

H.I.G. is a leading global alternative investment firm with over €35 billion of equity capital under management.

KPMG U.K. Restructuring is a leading multidisciplinary practice of approximately 22 partners and 528 staff located across the full breadth of the U.K. The group advises companies, lenders, equity holders and a wide range of other stakeholders including the government, regulators and pension trustees to navigate through the issues associated with economic disruption and overcome financial and operational challenges. Following completion of the transaction, the business will rebrand to Interpath Advisory, becoming the largest independent restructuring and turnaround team in the U.K.

The Herbert Smith Freehills team was led by M&A partners Malcolm Lombers (Picture) and Stephen Rayfield, supported by M&A associates Brian O’Malley, Damien Coruzzi and Edward Gainer. The wider deal team included: Nick Pantlin, Ken Wong, Hannah Brown, Alasdair McMaster and Anabelle Smith (TMT); Isaac Zailer and Josh Lom (Tax); Clive Cunningham, Katherine Dillon, Emma Reid and Jonah Oliver (FSR); Miriam Everett and Lauren Hudson (Data Protection); Andrew Taggart, Nick Wright and Orla McNulty (Employment); Will Turnbull and Nichola Johnson (Real Estate); Samantha Brown, Marcus Fink and Joseph Goddard (Pensions); Laura Deacon, Jessica Welborn, Laura Adde (IP); John Chetwood, John Whiteoak, Andrew Cooke and Matthias Steiner (Restructuring); Veronica Roberts and Ali MacGregor (Competition); William Gibson (Insurance Disputes); Kristen Roberts, Susie Nguyen (Finance); Mark Ward, Suzanne Cowan,James Gunn and Chesy Chen (ALT); and Job Matthew-Michael, Alagammai Murugappan (Corporate).

Evercore acted as financial adviser to KPMG. HIG was advised by Simpson Thacher and the restructuring and insolvency partners were advised by Dickson Minto.

The Simpson Thacher team for the transaction included Derek Baird, Clare Gaskell, Paul Foote, Vishaal Patel, Tarek Soliman and Jason Yue (Corporate); Ian Barratt, Shahpur Kabraji and Jia Meng (Credit); and Yash Rupal and Ellie Verran (Tax).  

Involved fees earner: Laura Adde – Herbert Smith Freehills; Hannah Brown – Herbert Smith Freehills; Samantha Brown – Herbert Smith Freehills; John Chetwood – Herbert Smith Freehills; Andrew Cooke – Herbert Smith Freehills; Damien Coruzzi – Herbert Smith Freehills; Clive Cunningham – Herbert Smith Freehills; Laura Deacon – Herbert Smith Freehills; Katherine Dillon – Herbert Smith Freehills; Miriam Everett – Herbert Smith Freehills; Edward Gainer – Herbert Smith Freehills; William Gibson – Herbert Smith Freehills; Joseph Goddard – Herbert Smith Freehills; Lauren Hudson – Herbert Smith Freehills; Nichola Johnson – Herbert Smith Freehills; Joshua Lom – Herbert Smith Freehills; Malcolm Lombers – Herbert Smith Freehills; Ali MacGregor – Herbert Smith Freehills; Alasdair McMaster – Herbert Smith Freehills; Orla McNulty – Herbert Smith Freehills; Susie Nguyen – Herbert Smith Freehills; Brian O’Malley – Herbert Smith Freehills; Nick Pantlin – Herbert Smith Freehills; Stephen Rayfield – Herbert Smith Freehills; Emma Reid – Herbert Smith Freehills; Kristen Roberts – Herbert Smith Freehills; Veronica Roberts – Herbert Smith Freehills; Anabelle Smith – Herbert Smith Freehills; Matthias Steiner – Herbert Smith Freehills; Andrew Taggart – Herbert Smith Freehills; Will Turnbull – Herbert Smith Freehills; Mark Ward – Herbert Smith Freehills; Jessica Welborn – Herbert Smith Freehills; John Whiteoak – Herbert Smith Freehills; Ken Wong – Herbert Smith Freehills; Nick Wright – Herbert Smith Freehills; Isaac Zailer – Herbert Smith Freehills; Derek Baird – Simpson Thacher & Bartlett; Ian Barratt – Simpson Thacher & Bartlett; Paul Foote – Simpson Thacher & Bartlett; Clare Gaskell – Simpson Thacher & Bartlett; Shahpur Kabraji – Simpson Thacher & Bartlett; Jia Meng – Simpson Thacher & Bartlett; Vishaal Patel – Simpson Thacher & Bartlett; Yash Rupal – Simpson Thacher & Bartlett; Tarek Soliman – Simpson Thacher & Bartlett; Ellie Verran – Simpson Thacher & Bartlett; Jason Yue – Simpson Thacher & Bartlett;

Law Firms: Herbert Smith Freehills; Simpson Thacher & Bartlett;

Clients: H.I.G. Capital, LLC; KPMG;

Author: Federica Tiefenthaler