Teneo Acquires Deloitte’s UK Restructuring Arm

16 Feb 2021 | 09.50 am

Teneo Acquires Deloitte’s UK Restructuring Arm

250 Deloitte staff to have new employer

16 Feb 2021 | 09.50 am

Teneo, the global CEO advisory firm led by Declan Kelly, is acquiring the Restructuring Services business of Deloitte UK.

The deal is being funded by shareholder CVC Capital Partners, the private equity giant.

The transaction, which is subject to regulatory approval, involves c.250 people including 27 Deloitte partners and will increase Teneo’s headcount to over 1,100 employees.

Teneo, which started out as PR consultancy, now offers advisory in management consulting, risk, strategic communications, public affairs, investor relations, capital advice, talent and executive search.

Declan Kelly (pictured), chairman and CEO of Teneo, commented: “The combination of the UK’s best distressed restructuring specialists with our existing advisory expertise will reinforce and extend Teneo’s position as the world’s leading CEO advisory firm.

“Teneo intends to use this acquisition to build a global restructuring practice leveraging our existing capabilities in the United States as well as through further M&A and organic growth.”

Daniel Butters, Head of Deloitte’s UK Restructuring Services business, will become Head of Restructuring for Teneo, a new business segment, whose three primary service lines including corporate advisory, creditor advisory and insolvency.

“We are very excited to join Teneo and believe that this is the perfect home for our partners and people,” said Butters. “Declan and the Teneo team share our vision to build the leading global restructuring firm. We have growth plans to scale our existing market leading business, clear support from our clients for our strategy and we believe that Teneo gives us the right platform to deliver this vision.”

With the Deloitte deal, Teneo’s UK presence will increase to over 600 staff.

 

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