The acquisition, announced yesterday in the United States, was made for approxiametly $153m (£97m) in cash and will create the largest independent global corporate recovery firm, according to KBP.
Following the acquisition, Simon Freakley, head of Kroll Buchler Phillips, will assume additional responsibility as head of Kroll’s new Corporate Advisory & Restructuring group. The new group includes the operations of Kroll Buchler Phillips, Kroll Zolfo Cooper, and Kroll’s restructuring specialists in Toronto, Canada.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies