Transactions

Teneo, the global CEO advisory firm has agreed to acquire the Restructuring Services business of Deloitte UK. Teneo is a portfolio company of funds advised by CVC Capital Partners, who are making an incremental equity investment as part of this transformational transaction.

The Restructuring Services business of Deloitte UK, comprising more than 250 people including 27 partners, will add specialist expertise in distressed restructuring and insolvency to Teneo’s existing advisory capabilities.

The Deloitte Restructuring business has  one of the most comprehensive offerings of any distressed restructuring business in the UK and Europe, and will continue to focus on identifying the causes of underperformance, working collaboratively with key stakeholders to develop the best strategy for recovery and support implementation of the optimal solution.

Following completion of the transaction, terms of which are not being disclosed, Teneo’s UK presence will increase to more than 600 staff in multiple advisory disciplines serving many of Britain’s largest companies and institutions. The Teneo restructuring team will operate from a network of London and regional offices, reflecting its existing national footprint.

Liberty advised the Deloitte Restructuring Services partner group led by Daniel Butters who will become Head of Restructuring for Teneo.