FTI Consulting, Inc. announced that it has entered into a definitive agreement to acquire Andersch AG (“Andersch”), a leading German restructuring advisory firm with offices in Frankfurt, Hamburg and D?sseldorf. The acquisition is expected to close during the third quarter of 2019, subject to German regulatory approval and other closing conditions. Terms of the transaction were not disclosed.
Founded in 2012 by former Big Four accounting firm partners Tammo Andersch and Mirko Liebthal, Andersch serves clients across Germany ranging in size from middle-market (Mittelstand) to large, multinational German-based corporations that are facing financial, operational and strategic challenges. Andersch professionals possess deep experience across a range of industries, including automotive, shipping, energy, real estate, retail, clean energy, telecommunications, media and technology. The addition of the Andersch team will extend FTI Consulting’s restructuring and business transformation capabilities to Germany, Switzerland and Austria, also known as the DACH region.
“Andersch’s restructuring advisory business has an impressive reputation and track record of client success. We look forward to welcoming Tammo Andersch, Mirko Liebthal and the entire Andersch team to FTI Consulting upon the closing of this transaction,” said Steven H. Gunby, President and Chief Executive Officer of FTI Consulting. “Our core mission is to serve our clients in the most important matters they face, wherever they are. We have been actively pursuing the opportunity to attract a high-quality restructuring team in Germany, which is one of the largest markets for consulting services in the world. Moreover, the addition of our new colleagues in Germany will further enhance our leading restructuring positions globally, supporting our commitment to investing behind our core positions of strength.”
With the addition of approximately 90 billable professionals, including seven senior managing directors, Andersch’s restructuring advisory expertise will enhance FTI Consulting’s established strategic communications, economic consulting and construction solutions offerings in Germany. Andersch professionals will go to market under the Andersch and FTI Consulting co-brand and will be part of the firm’s Corporate Finance & Restructuring segment.
“A top priority for our business is continued investment and global expansion of our market-leading offerings, which position FTI Consulting as the provider of choice to address a myriad of complex operational, strategic, financial and capital markets concerns. With the addition of the Andersch team, we will extend our geographic reach in Continental Europe, with deep functional experience and broad industry expertise,” said Michael Eisenband, Global Co-Leader of the Corporate Finance & Restructuring segment at FTI Consulting. “We are heavily focused on building and cultivating a collaborative culture that attracts and retains the best and brightest talent across the world – the addition of the Andersch team is an exemplar of our strategy taking hold.”
Tammo Andersch will join FTI Consulting as a Senior Managing Director and member of the Europe, Middle East and Africa (“EMEA”) leadership team. Mr. Andersch has extensive experience with complex restructuring and refinancing projects. Over the last 25 years, he has conducted numerous negotiations and moderations with investors and creditors on behalf of his clients, which include renowned companies of all sizes and various industry sectors. Prior to founding Andersch, he spent nearly 20 years working at an international auditing firm. Mr. Andersch was appointed partner in 2000 and was subsequently named the head of the firm’s restructuring practice in Germany in 2002. In 2005, he assumed the role of managing the firm’s restructuring activities for the EMEA region.
“As a preeminent restructuring firm globally, FTI Consulting is the premier platform for our team to expand our service offerings internationally,” said Mr. Andersch. “This combination supports our ability to holistically serve our clients’ increasingly global and complex needs with the highest quality delivery. We are incredibly proud of the business we’ve built over the past seven years and see FTI Consulting as the ideal global partner to continue our impressive path.”
Mirko Liebthal will join FTI Consulting as a Senior Managing Director. Mr. Liebthal has been a member of the Andersch board since he co-founded the firm in 2012. As a trained banker and an economist, Mr. Liebthal works with owner-managed and public limited companies to improve their competitive and capital positioning. He focuses on optimizing his clients’ business models and implementing go-forward growth and consolidation strategies. Mr. Liebthal brings deep expertise in the automotive, engineering and service sectors and has extensive experience in restructuring, refinancing, cost reduction programs, options analyses and strategic development. Prior to founding Andersch, Mr. Liebthal served for 12 years in the restructuring department of an international auditing firm, where he led numerous restructuring projects as a partner.
Mr. Liebthal added, “As perennial leaders in their respective markets, FTI Consulting and Andersch are a natural fit. Together, we are uniquely positioned to maximize the combination of our leading professionals and positions to deliver high-quality and sustainable value for our multinational clients. I look forward to collaborating with my FTI Consulting colleagues across the globe to leverage their diverse skills and bring Andersch’s focus on quality to a broader base of clients across Europe.”
In addition to Mr. Andersch and Mr. Liebthal, Sebastian Philipp, Christian Säuberlich, Karsten Schulze, Ralf Winzer and Mike Zöller also will join FTI Consulting as Senior Managing Directors.