New York, United States
Affiliation Combines Respective Strengths of the Leading Independent Global Professional Services Firm and Australia's Top Independent Corporate Advisory and Restructuring Firm
Alvarez & Marsal, the leading independent global professional services firm, and McGrath Nicol + Partners, the leading independent corporate advisory and restructuring firm in Australia and New Zealand, have entered into a strategic affiliation agreement.
As affiliated firms, Alvarez & Marsal and McGrath Nicol + Partners will serve as preferred resources for each other in connection with engagements involving turnaround management and restructuring, insolvency, and dispute analysis and forensics advisory services.
"Since 1983, Alvarez & Marsal has established the largest geographic footprint of any independent, global professional services firm with an operational heritage in turnarounds and restructurings," said Tony Alvarez II, the firm's co-chief executive with co-founder Bryan Marsal. "Our commitment to quality has enabled us to provide an unmatched level of service to clients in the U.S., Europe, Asia and Latin America. We bring on the ground, multi-cultural and multi-lingual professionals with extensive experience serving corporate stakeholders as advisors or interim managers in complex situations.
"Our affiliation with McGrath Nicol allows us to extend our reach to Australia and New Zealand with a trusted partner that is also committed to objectivity, quality and results," he added. "McGrath Nicol + Partners is a premier advisory firm with an established reputation for its work advising companies faced with strategic challenges and financial difficulties. They share our exacting standards in problem solving and value creation."
Tony McGrath, chairman of McGrath Nicol said, "We look forward to the opportunity to bring our joint resources to bear in providing independent and objective advisory services to a diverse range of clients. Quality and professionalism in everything we do are hallmarks of our business and we are pleased to become associated with Alvarez & Marsal, who share those values.
"McGrath Nicol offers a wide range of services including forensic and dispute advisory, corporate advisory and transaction services. The affiliation with Alvarez & Marsal provides a tremendous opportunity for us to further develop our restructuring and turnaround practice, and cement our position as a leading business advisory firm," Mr McGrath added.
About Alvarez & Marsal
Founded in 1983, Alvarez & Marsal is the leading independent global professional services firm, specializing in providing turnaround management and restructuring, performance improvement and corporate advisory services. With more than 800 professionals based in locations across the US, Europe, Asia, and Latin America, Alvarez & Marsal excels in problem solving and value creation. Drawing on its strong operational heritage and hands-on approach, Alvarez & Marsal professionals work closely with organizations and stakeholders to help tackle complex business issues and maximize value.
Alvarez & Marsal clients have included HealthSouth, Levi Strauss, Bridge Information Systems, Inc., Varig, Arthur Andersen, Interstate Bakeries Corp., Treofan and LG Phillips, among others. Alvarez & Marsal received the Turnaround Management Association's "Turnaround of the Year" award in 2003 for its work with Warnaco, Inc. and again in 2005 for its work with Spiegel, Inc. Earlier this year, the firm completed a landmark turnaround of Ihr Platz, a drug store chain in Germany, in a case that provided the first test of a relatively new law that paved the way for U.S.-style restructurings to occur in the country. For more information visit www.alvarezandmarsal.com.
McGrath Nicol + Partners
Founded in 2004 as a spin-off of KPMG's corporate recovery practice, McGrath Nicol + Partners comprises around 200 partners and staff and has offices in Auckland, NZ and all major Australian cities. Its professionals are longstanding market leaders in the fields of restructuring and insolvency. More recently, the firm has expanded its resources practising in the Government advisory, forensic and transaction service areas. The firm's clients, which have ranged from middle market companies to major corporations and spanned multiple industries, have included Australian Federal and State Governments, regulators, Australian and international commercial banks, investment banks and private equity funds.
In Australia, the partners at McGrath Nicol have handled major insolvencies ranging from HIH Insurance, ION and Pan Pharmaceuticals to the NSW Airport Link and Victoria's National Express rail franchises. In New Zealand, McGrath Nicol has worked on a number of high profile liquidations and administrations recently, including Henry Walker Eltin, ION, Pack and Pedal (CPI Retail Group), CWF Holdings, Virgin Autos and HIH Insurance Group in New Zealand. The firm has also advised stakeholders in numerous confidential restructurings of large Australian corporations. For more information visit www.mcgrathnicol.com
CONTACT: For Alvarez & Marsal: Alvarez & Marsal Rebecca Baker 212-759-4433 or Linden Alschuler & Kaplan, Inc. Public Relations Hannah Arnold 212-575-4545 or For McGrath Nicol + Partners: Vanessa Klapsch +61 (02) 9338 2629
CONTACT: For Alvarez & Marsal: Alvarez & Marsal Rebecca Baker 212-759-4433 or Linden Alschuler & Kaplan, Inc. Public Relations Hannah Arnold 212-575-4545 or For McGrath Nicol + Partners: Vanessa Klapsch +61 (02) 9338 2629 , ,
Source: Business Wire (Business Wire India)