MCR sold to US-based financial advisers
American financial advisory business Duff & Phelps buys Top 25 insolvency firm
INSOLVENCY FIRM MCR has been sold to US-based financial consultancy business Duff & Phelps.
Top 25 firm MCR will join Duff & Phelps’ network of 28 offices located around the world.
For the 12 months ending 30 June 2011, MCR earned approximately £21m in revenues and had about 150 staff.
“It’s an exciting time to take advantage of the synergies between our two like-minded organisations, as restructuring advisory services are needed across the United States and Europe,” said Andrew Stoneman, managing partner at MCR.
“Acting together, we are also well positioned to assist with cross-border situations and to help clients navigate business environments that span multiple industries, geographies and regulatory systems.”
MCR was formed in April 2001 and has eight partners. The latest acquisition will see the firm offer valuation, transactions and taxation advise to international companies.