Teneo acquires debt and financial advisory firm Herter & Co

Global consulting firm Teneo has acquired Herter & Co, a debt advisory and financial restructuring firm based in Germany.

The deal strengthens Teneo’s German business, which operates through offices in Berlin and Frankfurt, and expands Teneo’s financial advisory business across Europe.

Based in Frankfurt, Herter & Co provides debt raising, refinancing and restructuring services. The ten-year old firm (around 25 staff) focuses on large and mid-cap transactions, and has deep expertise across loan products, capital markets instruments and ancillary facilities.

“The team at Herter & Co have advised on some of the most high-profile cases in the market and have a unique independent proposition, which perfectly matches with our strategy and offering,” said Daniel Butters, global leader of Teneo’s Financial Advisory business.

The two companies have been working together on transactions for a number of years, both sellside and buyside, guiding both firms into now fully joining forces. Financial terms of the transaction have not been disclosed.

“I have known the Teneo team for many years and look forward to contributing to the development of the business in the years to come,” said Marcel Herter, Founding Partner of Herter & Co.

Herter & Co has now rebranded as Herter & Co – A Teneo company’, with founder Herter continuing to lead the business. The team will work closely with Teneo’s financial advisory experts in London, Paris and New York. “Having advised on the largest transactions in the German market, it is time for us to take the next step and expand our international footprint. We are very pleased to join the Teneo family,” said Herter.

Last year, Teneo launched its debt and financial restructuring offering in the Middle East, and earlier, the US-based firm acquired the UK restructuring arm of Deloitte, and the Caribbean-based offshore restructuring arm of KPMG.

Meanwhile, earlier this year Teneo strengthened the strategic communications side of its business with the purchase of UK-headquartered Tulchan for a reported £65 million.