Private equity firm Epiris has reportedly joined the group of bidders for KPMG’s insolvency business in the UK.
The owner of the auction house Bonhams, Epiris also bought Café Rouge out of administration last year as it acquired The Big Table.
Four companies, including HIG Europe and Intermediate Capital Group (ICG) are reportedly set to make the final shortlist of bidders.
Possibly reaching £400m at auction, sources said that the “timetable for the sale process had not been impacted” by the departure of Bill Michael, chairman at KPMG, regarding controversial comments he made two weeks ago.
The deal follows news that Deloitte’s restructuring arm had been acquired by Teneo, a US-based public relations and corporate advisory firm.
According to Sky News, the moves have come as the Big Four accountancy firms look to eliminate potential conflicts of interest.