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yesterday

Bridgepoint to Buy Interpath in Deal Valuing KPMG Spin-Out at About £800m

The purchase deepens private equity’s push into restructuring firms during Interpath’s fast expansion.

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Interpath’s restructuring business was assigned to the administration of Claire’s Accessories last year

Overview

  • Bridgepoint agreed to acquire a controlling stake in Interpath from HIG Capital after a competitive auction process.
  • Rival bidders included Blackstone, Onex, PAI Partners and Permira, according to reporting on the sale.
  • Interpath’s latest filings show revenue of £198.9m and adjusted EBITDA of £58.6m for the year to 28 March 2025, alongside a £11m pre-tax loss that marked its third loss in four years.
  • The firm has handled prominent mandates including the administration of Claire’s in the UK and Ireland, appointment to TGI Fridays in Britain, and cost-cutting work at Manchester United for Ineos Sports.
  • Interpath was spun out of KPMG and sold to HIG in 2021 for roughly £380–400m, and senior executives are expected to retain stakes under the new deal.