Interpath sold to Bridgepoint in £800 million deal – Daily Business

Interpath, the restructuring business spun off from KPMG, has been acquired by UK private equity firm Bridgepoint for a reported £800 million.

It has handled a number of company collapses and restructuring projects, including the administration of restaurant chain TGI Friday’s

In Scotland, it completed the sale of laser firm M Squared to Novacene Photonics, advised on the restructuring of Glasgow-based Quiz Clothing and the sale of Virgin Hotels in Glasgow.

Veteran Scottish insolvency practitioner Blair Nimmo, now retired, was part of the team when Mark Raddan and Will Wright led the transaction to create Interpath following its purchase by the managers and Florida-based private equity firm HIG Capital in 2021.

HIG Capital paid £380m for the business and has taken it into new markets in Europe and Hong Kong. It has also launched new client services, such as corporate advice.

Mr Raddan, chief executive of Interpath, said: “Today marks an exciting new chapter for Interpath as we embark on a new partnership with Bridgepoint.

“Their investment will empower us to continue attracting exceptional talent and accelerate our expansion into new geographies across Europe, the Americas and Asia.

“We are confident that with their support, we can build on our achievements, create even greater opportunities for our people, and deliver enhanced value to our clients.”

Bridgepoint listed on the London stock market in July 2021 and is a constituent of the FTSE 250 index. Among its portfolio is the Burger King UK franchise.

Charles Welham, a partner at Bridgepoint, said: “We are thrilled to partner with Interpath’s outstanding leadership team as they enter their next phase of growth — building a more international and diversified business, and continuing to win share from more constrained and conflicted competitors.”