Teneo has acquired the restructuring unit of Deloitte UK, which includes more than 250 staffers involved in identifying reasons for corporate underperformance and developing strategies that lead to financial recovery.
CEO Declan Kelly said Teneo plans to use the acquisition to build a global restructuring unit leveraging existing capabilities in the US, along with M&A activities and organic growth.
Daniel Butters, head of Deloitte UK restructuring services, will oversee Teneo’s global push to help clients navigate periods of financial operational underperformance or stress.
The deal puts Teneo’s headcount at more than 1,100 staffers, of which 600 are in the UK.
Teneo bills itself as a “global CEO advisory,” offering strategic communications, public affairs, investor relations, management consulting, talent & executive search services.
It is a portfolio firm of CVC Capital Partners.