Begbies Traynor Group plc and Mesirow Financial Consulting, LLC Announce Joint Venture
BTG Mesirow Financial Consulting combines recovery and restructuring expertise and offers significant resources to service the global marketplace
LONDON, UK and NEW YORK, NY — October 8, 2009 — Begbies Traynor Group plc ("BTG") and Mesirow Financial Consulting, LLC ("MFC") have today announced a joint venture that leverages both firms' historical strengths to service restructuring and other consulting-related engagements with international scope. The joint entity, BTG Mesirow Financial Consulting, addresses the increasing number of international cases requiring local market-based expertise, solutions and service.
This joint venture immediately positions BTG Mesirow Financial Consulting as one of the leading players in the global restructuring and recovery market. It offers underperforming and distressed companies and their stakeholders access to a broad range of industry knowledge, large case experience and a robust service offering that logically extends the firms' core capabilities. The BTG Mesirow Financial Consulting footprint will enable fast mobilization of the right resources to support multi-national assignments through a global network of professionals and with a particular strength in the United States, the United Kingdom and mainland Europe. The venture also brings an understanding of the nuances, regulatory climate and issues of specific markets in multi-jurisdictional cases.
"This venture is clear acknowledgement of today's global environment," said Ralph S. Tuliano, Mesirow Financial Consulting president and executive managing director. "We continue to support some of the largest recovery and restructuring cases in the United States, many of which have international components. Advising clients every day in multiple geographies has become increasingly important. Through the establishment of BTG Mesirow Financial Consulting, we have access to professionals with complementary expertise and reputation worldwide, providing experience on a global scale. This will give us a distinct advantage as we address these large, complex, multi-national assignments. The benefit to our clients is significant."
Ric Traynor, Executive Chairman, Begbies Traynor Group plc added, "Begbies Traynor is an established U.K. corporate recovery and restructuring practice, with a network of professionals and support staff worldwide through Begbies Global Network. We are the U.K.'s leading insolvency practice by market share, with an increasing focus on complex restructuring work. Like MFC, BTG provides corporate finance, forensic accounting and litigation support services. For some time, however, we have been seeking to raise our profile in the commercially important U.S. market and the joint venture with Mesirow Financial Consulting will facilitate this. Together, we will work with clients on complex, cross-border engagements to develop comprehensive restructuring solutions, which can serve as a solid foundation for future success."
About Begbies Traynor Group
Begbies Traynor Group plc is a specialized professional services organization providing independent professional advice and solutions to businesses, financial institutions, the accountancy professions and individuals in the areas of corporate finance, corporate recovery and restructuring, commercial intelligence and investigation, risk management and specialist tax advice. The Group is listed on AIM (Ticker: BEG). For more information about Begbies Traynor Group plc, please visit www.begbies-traynorgroup.com.
About Mesirow Financial Consulting, LLC
A full-service financial advisory consulting provider, MFC provides corporate recovery, litigation and investigative services, valuation services, interim management (Interim management services provided by Mesirow Financial Interim Management, LLC), operations and performance improvement, distressed M&A and capital raising services*, alternative investment services, due diligence services and technology advisory services. For more information about Mesirow Financial Consulting, please visit
www.mesirowfinancial.com/mfc.
For more information, contact:
United Kingdom & Europe
Elaine Bartleet
Smithfield Consultants
ebartleet@smithfieldgroup.com
+ 44 (0) 207 360 4900
United States
Amanda Cheslock
Sloane & Company
acheslock@sloanepr.com
+ 1 212.446.1884
* Distressed M&A and Capital Raising Services provided by Mesirow Financial Consulting Capital (a division of Mesirow Financial, Inc.).
The Mesirow Financial name and logo are registered service marks of Mesirow Financial Holdings, Inc., © 2009, Mesirow Financial Holdings, Inc. All rights reserved. The information contained herein has been obtained from sources believed to be reliable, but is not necessarily complete and its accuracy cannot be guaranteed. Any opinions expressed are subject to change without notice. It should not be assumed that any recommendations incorporated herein will be profitable or will equal past performance. Nothing contained herein constitutes an offer to sell or a solicitation of an offer to buy an interest in any Mesirow Financial investment vehicle(s).
Securities offered through Mesirow Financial, Inc. member NYSE, SIPC. Insurance services provided through Mesirow Insurance Services, Inc.
