A corporate restructuring firm that has advised on some of the most significant restaurant group sales of recent years is to merge with one of its rivals.
Zolfo Cooper Europe has agreed to be taken over by New York-based AlixPartners’ in a move that will enlarge the latter’s UK and continental European practice.
Last year Zolfo Cooper oversaw a deal that saw 43 Strada restaurants sold to private investors for £37m, while more recently it has been working on a plan to secure the future of Intertain, the group behind the Walkabout chain.
Zolfo Cooper Europe employs 200 senior professionals, including 19 managing directors, and operates from offices in London, Birmingham, Leeds, Manchester and Glasgow.
The acquisition creates a regional practice with close to 600 highly skilled professionals.
Fred Crawford, CEO of AlixPartners, said: “Combining with Zolfo Cooper Europe will enable AlixPartners to better serve our UK, European, and global clients from an expanded position of strength and further reinforces our position as the pre-eminent global turnaround and restructuring group.”
AlixPartners said the integration of the two businesses has been “planned in detail” as part of the acquisition process.
Zolfo Cooper Europe will be rebranded AlixPartners across all its offices and both practice areas following the completion of the acquisition, which is expected to occur by the end of February 2015.