Professional services firm, KPMG, has completed the sale of its UK Restructuring practice, now known as Interpath Advisory, to H.I.G. Europe, the European affiliate of H.I.G. Capital, LLC, and Interpath’s managing directors.
The sale of the business, which sees circa 528 staff and 22 partners transferring to Interpath, enables KPMG to accelerate its programme of investment in its core audit, tax, deals and consulting services for clients.
Jon Holt, Chief Executive of KPMG UK, said: “This is the best possible result for both KPMG and the Restructuring business. It will enable us to accelerate our investment in our core services and take advantage of the significant market opportunities ahead of us.
“Throughout this process, a key priority has been to ensure the stability and future success of the Restructuring business and its talented people. This deal will help the team at Interpath to do just that, whilst giving them the opportunity to serve a broader client base and realise their full growth potential. We wish them every success in the future.”
The sale is specific to KPMG in the UK and does not affect the firm’s Insolvency and Restructuring business in Ireland, which includes Northern Ireland.