Begbies Traynor forges US alliance
LISTED insolvency firm Begbies Traynor Group has announced a major partnership with a US practice.
The joint venture between AIM-listed, Manchester-based Begbies Traynor and Mesirow Financial Consulting, will create one of the largest insolvency and restructuring practitioners in the world.
Called BTG Mesirow Financial Consulting, the partnership will offer underperforming and ailing companies access to a broad range of industry knowledge, across a wide geographical area in a rapid fashion.
No financial terms of the link-up were disclosed, although both Begbies Traynor and Mesirow stressed both would continue to operate independently under their existing ownership structures.
Ric Traynor, executive chairman of Begbies Traynor Group, said: “Begbies Traynor is an established UK corporate recovery and restructuring practice, with a network of professionals and support staff worldwide, through Begbies Global Network.
“We are the UK’s leading liquidation and administration practice by market share, with an increasing focus on complex restructuring work. In common with MFC, BTG also provides corporate finance, forensic accounting and litigation support services.
“For some time, however, we have been seeking to raise our profile in the commercially important US market and the joint venture with Mesirow Financial Consulting will facilitate this.
“Together, we will work with clients on complex, cross-border engagements to develop comprehensive restructuring solutions, which can serve as a solid foundation for future success.”
Ralph Tuliano, Mesirow Financial Consulting president and executive managing director, added: “This venture is clear acknowledgement of today’s global environment.
“We continue to support some of the largest recovery and restructuring cases in the United States, many of which have international components and a need for comprehensive global resources.
“Advising clients every day in multiple geographies has become increasingly important. Through the establishment of BTG Mesirow Financial Consulting, we have access to professionals with complementary expertise and reputation worldwide, providing experience on a global scale.
“This will give us a distinct advantage as we address these large, complex, multi-national assignments. The benefit to our clients is significant.”
