INTERPATH acquired by HIG CAPITAL
Context
H.I.G. Europe acquired KPMG's UK restructuring business in a complex corporate carve-out transaction. The deal created "Interpath Advisory," an independent entity led by senior partners who became significant shareholders. The strategic rationale was to liberate the practice from Big 4 audit conflicts, allowing it to service a wider range of clients and navigate the post-COVID economic recovery landscape with greater agility.
INTERPATH, which reported an EBITDA margin of [members only] in 2020, is valued in this transaction at an EV/EBITDA multiple of 10x–18x, representing a discount to the average currently observed in the Business Services sector (11.4x).
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Target
Interpath, founded in 2021 by former members of KPMG's UK branch, is a specialist advisory firm focused on corporate restructuring and financial services. Since its inception, the company has rapidly established a multi-service advisory platform, providing support to corporate finance departments, private equity sponsors, lenders, and other stakeholders. With over 1,000 professionals employed across 12 countries, including the UK, Ireland, France, Germany, Spain, the Caribbean, and Hong Kong, Interpath has doubled its operations. The firm operates at the intersection of several key and attractive markets, notably restructuring and turnaround, a technically demanding discipline with high barriers to entry and countercyclical resilience. Interpath aims to triple its workforce by 2030 and strengthen its presence in Europe, by entering new markets and expanding its service offerings.
Ent. Value
£300–700M
Equity Value
[members only]
Multiples
EV / Revenue
2x–6x
EV / EBITDA
10x–18x
EV / EBIT
[members only]
Historical Financials (GBP)
Other operations with INTERPATH
Other operations with INTERPATH
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 01/2026 | BRIDGEPOINT | INTERPATH | UNITED KINGDOM | Accounting & Audit |
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REFERENCES
Valuation range: EV £300–700M
Revenue range: £100–200M
EBITDA range: £25–50M
EV/Revenue range: 2x - 6x
EV/EBITDA range: 10x - 18x
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of INTERPATH by HIG CAPITAL are reserved for mynth community members. Register for free to unlock full data.
Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Target: interpath
Acquirer: hig capital