Permira Enlists Former PA Consulting Chief in Bid for Interpath Advisory
Permira has enlisted Alan Middleton, former chief executive of PA Consulting Group, to assist in its bid for Interpath Advisory.
Interpath Advisory, formerly the KPMG UK restructuring arm, was spun out in 2021 following regulatory changes in the audit sector.
Indicative offers for Interpath have been submitted, with the deal price expected to reach up to £900 million. Other bidders include Blackstone, Bridgepoint, Onex, and PAI Partners. The majority owner is HIG Europe, and Moelis is advising the auction.
Interpath Advisory is currently advising on the restructuring of TGI Fridays and has previously worked on the restructuring of Claire's UK and Ireland subsidiaries.
Since HIG Europe acquired Interpath about four and a half years ago, the company has doubled its EBITDA and is expecting revenue to increase by around 20% in the current financial year.
A sale of Interpath is expected to be finalized in the first quarter of 2026.
Both Permira and HIG declined to comment on the bid process.
