Duff & Phelps Corporation, a leading independent financial advisory and investment banking services firm, today announced that it has acquired MCR. Comprised of approximately 150 employees, MCR is a UK-based corporate restructuring and turnaround firm focused on insolvency administration and independent business reviews.

For the 12-month period that ended June 30, 2011, MCR earned approximately £21m in revenue, excluding reimbursable expenses. The acquisition significantly expands Duff & Phelps' presence in Europe and enhances the firm's Global Restructuring Advisory practice. Terms of the transaction were not disclosed. 

"For more than ten years, MCR has maximised recovery for stakeholders in insolvent businesses by generating innovative solutions to business problems," said Noah Gottdiener, chief executive officer at Duff & Phelps. "Our new colleagues bring enormous credibility, strong relationships and impressive scale to a key part of the European market where Duff & Phelps has long been pursuing strategic expansion. Further, the MCR team will work collaboratively with Duff & Phelps’ existing team in Europe to deliver a more robust offering of technical expertise and sound advice to clients." 

Since 2001, MCR has worked with clients to restructure businesses and find turnaround solutions, often in the most complex situations. The MCR team – which operates out of offices in London, Manchester and Birmingham in the UK – also provides a broad range of business consulting and debt advisory services, with particular emphases on insolvency administration and independent business reviews. Industries served include property, manufacturing, printing, recruitment, financial services, hotels, leisure, ecommerce, automotive, telecommunications, music, entertainment and construction. 

"All of us at MCR are excited about the prospect of building the business with Duff & Phelps, as this allows us to offer a more dynamic and broader range of services to our clients,” said Andrew Stoneman, managing partner at MCR. “It’s an exciting time to take advantage of the synergies between our two like-minded organisations, as restructuring advisory services are needed across the United States and Europe. Acting together, we are also well-positioned to assist with cross-border situations and to help clients navigate business environments that span multiple industries, geographies and regulatory systems."