STOCKS | Interpath Seeks U.S. Acquisition to Expand Global Business

Private equity-backed restructuring advisory firm Interpath is seeking to acquire a U.S. professional services company as a strategic foothold for global expansion. According to Sina Finance, the company is working with investment banks to find a mid-sized U.S. business with about 50 employees. Interpath CEO Mark Laderman said the firm currently operates in the United States through partnerships but lacks a physical presence, which he described as a major disadvantage. He said the absence of a U.S. entity prevents it from winning some global mandates, including work on the bankruptcy restructuring of FTX, despite its experience in crypto asset restructuring. In January, a U.S. court approved Interpath to oversee the restructuring of Cambodian conglomerate Prince Group. The expansion plan comes as Interpath's ownership changes. The firm was spun out of KPMG in 2021 and was then acquired by U.S. private equity firm HIG Capital for 400 million pounds. In January, British buyout firm Bridgepoint took over Interpath for 800 million pounds. Bridgepoint partner Charles Veale said international expansion was a key part of the strategic rationale for buying Interpath. He said the U.S. is the largest and most attractive market, and gaining a scale foothold there is an important part of the investment case. He added that acquiring a U.S. company would change the group's overall positioning and could support a revaluation at the next exit. Interpath said target companies should have expertise in at least two of four areas: restructuring, transaction advisory, forensic investigation, and value creation. Laderman also said he does not want to buy a business that does not fit the firm's overall positioning simply to open offices in New York and Chicago.