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KPMG to sell its UK restructuring practice

KPMG has confirmed that it has signed an unconditional agreement to sell its UK restructuring practice to Interpath Advisory. 

Interpath Advisory is a newly-formed company which is backed by H.I.G Europe, the European affiliate of H.I.G Capital LLC, a global investment firm.


According to KPMG, the decision was driven by significant changes in the insolvency and restructuring market in the UK over recent years. The accountancy giant said the increasing number and unique complexity of multiple stakeholders in distressed and stressed situations has made the navigation of conflicts of interest “ever more complex for big four firms like KPMG”, which have audit or non-audit relationships with almost every large and medium-sized business across the UK.


In anticipation of this situation only becoming more intense, KPMG made the decision to begin a sale process last autumn.


On completion of the deal, KPMG UK will continue to provide all other advisory services including debt advisory.


Mary O’Conner, interim chief executive of KPMG UK, said: “As businesses across the UK pivot to new ways of working; the pace of digital transformation quickens and we focus on the transformation of our own business, this agreement will allow us to accelerate investment in our core services.”


The sale will see 22 partners and around 528 staff currently employed in KPMG’s UK Restructuring practice transfer to Interpath Advisory.

Interpath Advisory will be led by Blair Nimmo, Will Wright and Mark Raddan, who have also led the transaction as three of the senior partners in KPMG’s UK restructuring practice.


Nimmo said: “This is tremendously exciting news for our business and our people and opens up enormous potential for growth. With over 500 people based across the full breadth of the UK, Interpath Advisory will become the largest independent restructuring and turnaround business in the country.”

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