Global valuation and corporate finance advisory firm Duff & Phelps has acquired the restructuring and insolvency division of RSM Farrell Grant Sparks for an undisclosed sum.
The division accounts for approximately 20 per cent of RSM Farrell Spark’s revenue. It offers corporate restructuring, corporate insolvency, property asset management, forensic and asset tracing and personal restructuring services, is one of the largest dedicated restructuring and insolvency teams operating in the Republic.
As part of the agreement the partners of the restructuring and insolvency division, Declan Taite, Pearse Farrell and Anne O'Dwyer, along with all staff in the division, will transition to Duff & Phelps and will continue to lead the restructuring practice in Ireland, while remaining at the same locations.
“The addition of 56 restructuring and insolvency professionals from RSM FGS formalises Duff & Phelps’ presence in the Republic of Ireland and builds on our ability to deliver local expertise and geographic reach to our clients throughout Ireland and internationally,” noted Paul Clark, co-head of Duff & Phelps’ UK Restructuring practice.
RSM Farrell Grant Sparks managing partner Jim Mulqueen said selling the division would enable the companyto concentrate on its audit, tax, advisory and corporate finance clients.
“Separating out the restructuring and insolvency division will allow us to refocus all of our attention on our core service offerings, to continue on our growth trajectory, and to push ahead with our planned graduate intake this year. We also expect to recruit a number of senior people in key areas to support the growing demand for our services,” he said.
