The prominent restructuring firm Interpath Advisory, recently enlisted by Sir Jim Ratcliffe to lead a major cost-cutting initiative at Manchester United, is being put up for sale with a price tag of approximately £900 million. Sky News has learned that the formal sale process is set to commence this week.
The Sale Process Begins
Advisers working for HIG Europe, which holds a majority stake in Interpath, will begin circulating information packs to prospective buyers on Monday. This move follows a significant number of unsolicited enquiries from interested parties after it became known that HIG had appointed Moelis, the investment bank, to manage an auction of the business.
According to City and banking sources, several major private equity firms are expected to pursue an acquisition. Blackstone, Bridgepoint, Onex, PAI Partners, and Permira are among the potential suitors tipped to show interest in the coming weeks.
Interpath's Rise and Notable Work
Interpath has its origins in the UK arm of the accounting giant KPMG. It was spun out as an independent entity in 2021, a move largely prompted by evolving regulatory pressures within the audit industry. Growing scrutiny over potential conflicts of interest between auditing and consulting services, intensified by high-profile corporate failures like BHS and Carillion, led to several such disposals by 'Big Four' firms.
Since HIG Europe acquired the business four and a half years ago, Interpath has seen its performance surge. Sources indicate that the firm has doubled its earnings before interest, tax, depreciation, and amortisation (EBITDA) under HIG's ownership. It is also reportedly on track to post a 20% increase in annual revenues for the current financial year.
The firm's high-profile mandates include its role as administrator for the UK and Irish subsidiaries of the accessories retailer Claire's, which collapsed earlier this summer. Its most publicised recent assignment, however, is advising Sir Jim Ratcliffe's INEOS on a far-reaching cost-efficiency programme at Manchester United's Old Trafford.
Timeline and Market Impact
The auction for Interpath Advisory is expected to move swiftly, with a sale anticipated to be finalised during the first quarter of 2026. The £900 million valuation reflects the strong growth and profitability the restructuring specialist has achieved since becoming independent from KPMG.
When contacted for comment, HIG Europe declined to provide a statement on the impending sale. The deal highlights the continued attractiveness of professional services firms with strong market positions to large financial investors.
