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Consortium buys insolvency practice Duff & Phelps

INSOLVENCY SPECIALIST Duff & Phelps has been acquired by a private equity consortium, which includes The Carlyle Group, Stone Point Capital Picet & Cie.

The deal, which Accountancy Age understands was first discussed last year, is estimated to be worth about $665.5m (£429.8m) and will see Duff & Phelps de-listed from the New York Stock Exchange.

Olivier Sarkozy, Carlyle managing director who leads the firm’s financial-services group, told the Wall Street Journal that Duff & Phelps will get “significant growth opportunities” from “regulatory demands, implementation of new accounting policies and requirements for increased corporate disclosure and third-party validation”.

US business Duff & Phelps bought Top 25 UK insolvency practice MCR in 2011, which had revenues of £22.5m and about 150 staff according to the Accountancy Age Top 50, 2011.

Duff & Phelps UK partner Paul Clark hit the headlines last year when he was appointed to collapsed Scottish football Club Rangers which exited administration last year.

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