Burger King UK’s owner agrees proposed deal to buy Interpath

Burger King UK owner Bridgepoint has agreed a proposed buyout of financial advisory firm Interpath in a deal reportedly worth more than £800 million.

Private equity firm HIG Capital will sell Interpath five years after it bought the former restructuring arm of KPMG for about £380 million.

Interpath was spun out of KPMG in 2021 amid changes to the audit regulations in the UK.

It has about 1,000 staff and more than 100 managing directors and specialises in restructuring and mergers and acquisitions advice.

Interpath led the UK administration process for retailer Claire’s Accessories, and has been involved in the restructuring of struggling restaurant chain TGI Fridays UK.

The proposed sale is for an undisclosed sum, but reports suggest the majority stake sale values the group at about £800 million.

Nishant Nayyar, managing director of HIG, said: “When we acquired Interpath five years ago from KPMG, our ambition was to build the leading UK restructuring and financial advisory firm under a world-class management team.

“We are proud to have supported the company’s strong growth, geographic expansion and diversification during our ownership.”

Charles Welham, a partner at Bridgepoint, added: “What excites us most is the opportunity to support its exceptional base of talent and, by enhancing its distinctive people proposition, accelerate the pace at which more leading professionals in their fields join the Interpath platform.

“We are thrilled to partner with Interpath’s outstanding leadership team as they enter their next phase of growth, building a more international and diversified business, and continuing to win share from more constrained and conflicted competitors.”

Interpath has more than 30 offices across the UK, Ireland, Europe, Asia and locations including the Cayman Islands and Algeria.

Mark Raddan, chief executive of Interpath, added: “We are incredibly grateful to HIG for their trust, support and belief in Interpath over the past five years.

“They backed our vision wholeheartedly, first, by helping us to establish strong foundations following our carve-out, and then by supporting us as we scaled both our international footprint and the services we provide.”

London-listed buyout firm Bridgepoint has more than 86 billion US dollars (£63.7 billion) of assets under management, including Burger King in the UK after it became the master franchisee for the chain in 2017.