Alvarez & Marsal starts merging and acquisition team in Munich

12 December 2012

Alvarez & Marsal has launched a dedicated M&A and Transaction Advisory practice in Munich, Germany. By doing this it wants to anticipate on the expected increase in private equity and deal activity in the coming years in the German market. Ernst & Young partner Jürgen Zapf, who worked for over 20 years at the Big4 firm, has been appointed as Managing Director.

The global advisory firm already has a restructuring, performance improvement and forensic department in Germany. By the end of 2011, the advisory firm launched a separate merging and acquisition branche in Amsterdam (the capital of the Netherlands).

Alvarez Marsal - Munchen

Adrian Balcombe, Managing Director of Europe’s Transaction Advisory Group, said: “We expect the environment for deals to improve further in the months ahead, particularly given German bank exposure to real estate and increasing private equity interest in buying bank assets."

Jürgen Zapf: “The way businesses in Europe operate is constantly evolving as firms respond to the ongoing economic downturn. Though banks remain reluctant to finance deals, there is still much activity across Europe, particularly in the German mid-market, as well as in distressed transactions. The economic landscape has placed an increased strain on management and private equity investors are being challenged in new ways.”


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