Summer Update

Whilst the interim market within the private equity & restructuring market remains challenging, in recent weeks we have definitely seen much more activity. This is certainly good news and hopefully it will continue once we have got the summer out of the way.

In the last two months we have introduced an Interim CEO to Endless llp to run their latest acquisition British Bookshops & Stationers. We have also been working with the restructuring group of one of the leading banks which has led to the introduction of a Non-Executive Director to the board of a private equity backed manufacturing businesses. Last week, working with the same bank, we introduced a Chief Restructuring Officer to Discover Leisure plc as part of the CVA they recently agreed in conjunction with KPMG.

http://www.kpmg.co.uk/email/06Jun09/146864/MFirmin/220_e-Alert.html

Working with the banks is certainly proving to be a very good and fruitful relationship for Interim Partners and we are now in a position to deliver across a much wider range of projects in addition to the traditional private equity (MBO) mandates we receive. Given our in-depth knowledge across many sectors we are able to introduce industry specific executives with restructuring and stake holder management experience at short notice.

Looking forward we may well see an increase in the types of opportunities outlined here, be it working with distressed debt and turnaround investors or indeed the restructuring teams within the main banks. I expect that the parameters of these roles will continue to be varied in duration, scope, and complexity and will provide a different portfolio of opportunities for our interim network. An increase in corporate M&A and private equity backed buyouts would certainly be well received and complement the current flow of activity we are now seeing.

Doug Baird is Managing Director and Head of the Private Equity Practice of Interim Partners.

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