Prime Highlight:
- Bridgepoint has agreed to buy a majority stake in Interpath, the former UK restructuring arm of KPMG, valuing the business at around £800 million.
- The acquisition will support Interpath’s international expansion and help it compete with global advisory rivals like AlixPartners and FTI Consulting.
Key Facts:
- Interpath was acquired by HIG Capital from KPMG in 2021 for about £380 million and has since expanded across Europe and Asia with around 1,000 employees in 12 countries.
- The firm reported £198.1 million in revenue for the year ending March 2025 but incurred a pre-tax loss of £8.1 million.
Background:
Bridgepoint has agreed to buy a majority stake in Interpath, the former UK restructuring arm of KPMG, in a deal valuing the business at around £800 million. The transaction marks the latest private equity investment in professional services firms and is subject to customary approvals.
The deal provides an exit for Interpath’s current owner, HIG Capital, which acquired the business from KPMG in 2021 for about £380 million. Since then, Interpath has expanded rapidly beyond the UK, building an international advisory platform across Europe and Asia.
Bridgepoint said it plans to invest further in Interpath’s global growth. Charles Welham, a partner at Bridgepoint, said the firm has moved quickly from a UK-focused business to a strong pan-European player, making it a good fit for Bridgepoint’s strategy. He added that the firm will support Interpath’s expansion in key international markets.
Mark Raddan, chief executive of Interpath, stated that the upcoming phase of investment will enable the company to compete with international advisory firms like Alvarez & Marsal, AlixPartners, and FTI Consulting. He said Interpath aims to stand out through its culture and its ability to attract senior talent from large accounting firms.
Since spinning out from KPMG nearly five years ago, Interpath has widened its services beyond restructuring into areas such as corporate finance advice. The firm now employs around 1,000 people across 12 countries, with offices in France, Germany, Spain, and Hong Kong.
Financial reports show that Interpath made a profit in 2024, but it lost £8.1 million before tax in the year ending March 2025, on revenues of £198.1 million.
The deal shows that private equity firms are increasingly investing in advisory and accounting companies, following similar moves with Deloitte, Grant Thornton UK, and others.