TENEO TO ACQUIRE HERTER & CO.

Deal further expands Teneo's Financial Advisory capabilities across Europe

Significant expansion of the firm's presence in Germany

FRANKFURT, Germany and LONDON and NEW YORK, Sept. 28, 2023 /PRNewswire/ -- Teneo, the global CEO advisory firm, today announced a significant addition to the firm's global Financial Advisory business with the acquisition of Herter & Co., a leading independent debt advisory and financial restructuring firm based in Germany.

Herter & Co. advises a wide range of corporate and private equity clients in Western Europe on debt raising, refinancing and restructuring. The high-caliber team of professionals offers independent specialist advice on all aspects of debt, with extensive expertise across the universe of loan products, capital markets instruments and ancillary facilities. The Herter & Co. team is renowned in the market for senior-driven execution capability across large and mid-cap transactions.

The Herter & Co. team will join Teneo's fast-growing global Financial Advisory business reporting to Daniel Butters, CEO of Teneo's Financial Advisory business. Founder Marcel Herter will continue to lead the business, working with the wider global Teneo team. He will also work in partnership with Felix Schönauer, who leads Teneo's Strategy & Communications business in Germany, to continue to grow the firm's operations in this important market.

Daniel Butters said: "We are extremely excited to welcome the Herter team to our business as we continue to expand our Capital Advisory offering and geographic footprint across Europe. Marcel and the senior leadership 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. As a testament to this, our teams are already involved on a number of the same situations. Together with our existing team, we will now provide a full suite of Capital Advisory services in Western Europe, with extensive access to the London and New York capital markets."

Marcel Herter, Founding Partner of Herter & Co., said: "We are pleased to join the Teneo family. After significant growth and having advised on the largest transactions in the German market, it is time to take the next step and expand our international footprint. 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."

Felix Schönauer, Teneo Germany CEO, said: "We extend a very warm welcome to Marcel and his colleagues. Teneo Germany is very excited to expand our practice in size and breadth, to work together with our new colleagues and to further develop our integrated offer. As we have grown our business in continental Europe – expanding significantly in Brussels, Dublin, Paris, Frankfurt, Amsterdam and Berlin – we now provide a broad range of global capabilities in Germany with the addition of Herter & Co."

Wachtell, Lipton, Rosen & Katz, Hengeler Mueller and William Fry served as legal advisors to Teneo on the transaction. Herter was advised by Orrick Herrington & Sutcliffe LLP.

Teneo is the global CEO advisory firm. We partner with our clients globally to do great things for a better future.

Our full range of advisory services includes strategic communications, investor relations, financial transactions and restructuring, management consulting, physical and cyber risk, organizational design, board and executive search, geopolitics and government affairs, corporate governance, ESG and DE&I.

For more information about Teneo, please visit teneo.com.

SOURCE Teneo