Jun 30 2010
Following the administration of Vantis plc, Vantis Business Recovery Services (BRS) has been sold in a management buy-out (MBO) to existing Vantis BRS partners for an undisclosed sum. The new firm, FRP Advisory LLP, will be led by partners Geoff Rowley and Jeremy French.
FRP Advisory retains the staff of previous Vantis BRS offices at 9 locations nationwide, numbering 28 partners and 200 staff and making it one of the largest independent restructuring, recovery and insolvency firms in the UK.
Commenting on the deal, FRP Advisory partner and board member Geoff Rowley says: “Discussions were started with Vantis plc board members some weeks ago with regards to taking the BRS business into private ownership, with the transfer of staff. Ultimately the board determined that a private sale of BRS, which represented a valuable asset, would assist in maximising the worth of the Vantis group for stakeholders as a part of the administration process.”
FRP Advisory will provide a comprehensive suite of restructuring, recovery and insolvency solutions to businesses and financial institutions in the mid-market. Services include: banking and business review, personal and corporate insolvency, refinance, turnaround and crisis management, interim management and asset-based finance.
Geoff continues: “FRP Advisory has one of the broadest service-offerings available for businesses and institutions operating in the mid-market, with a team that has a strong track record of delivering solutions to our clients. With an economic and business landscape that is changing by the day and the focus very much on UK plc in the recovery from recession, there’s never been a more crucial time for the mid-market community to have access to the very best advice. FRP Advisory is well positioned to provide that advice and we are very excited about our future.”