The advisory firm overseeing a cost purge at Manchester United Football Club is set to be sold to the owner of Burger King’s British operations for over £800m. Bridgepoint, a London-listed buyout firm, has agreed to acquire a controlling stake in Interpath Advisory. The deal is expected to be announced on Monday morning following a competitive auction process involving bidders such as Blackstone, Onex, PAI Partners, and Permira.
Interpath, formerly the restructuring arm of KPMG UK, was spun out in 2021 due to regulatory changes in the audit profession. The firm has been involved in significant restructuring and cost-saving projects, including administering the UK and Ireland subsidiaries of Claire’s. It is currently lined up to oversee the administration of TGI Fridays’ British arm and advise Russell & Bromley on a potential sale.
One of Interpath’s notable roles was assisting Ineos Sports in reducing costs at Manchester United FC after acquiring a stake in the club. The sale of Interpath to Bridgepoint reflects a trend of private equity investments in the professional services and financial advisory sector in the UK. Sources indicate that Interpath has doubled its earnings since being acquired by HIG Europe, with a recent 26% increase in revenues to nearly £200m.
Mark Raddan, Interpath’s chief executive, expressed the firm’s vision to become a global advisory leader through strategic acquisitions and investments. Following the completion of the Bridgepoint deal, Raddan and other senior executives are expected to retain a stake in the company. HIG Europe was advised by Moelis on the auction process.
Bridgepoint and HIG Europe have not provided comments on the sale. This acquisition marks another significant transaction in the professional services sector as private equity firms seek opportunities in high-margin industries. The sale of Interpath underscores the firm’s growth and success in the advisory space.
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