Simpson Thacher is advising funds managed by H.I.G. Capital, LLC (“H.I.G.”) in connection with the acquisition of KPMG’s U.K. restructuring business, a leading provider of insolvency, financial restructuring and turnaround services in the U.K. and globally. Terms of the transaction, which is expected to be completed in April 2021, were not disclosed.
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 Simpson Thacher team for the transaction includes Derek Baird, Clare Gaskell, Paul Foote, Vishaal Patel, Tarek Soliman and Jason Yue (Corporate); Shahpur Kabraji and Jia Meng (Credit); and Yash Rupal and Ellie Verran (Tax).