Stephenson Harwood has scooped a new corporate client, winning work from New York-listed Duff & Phelps opposite Eversheds on the financial adviser and investment bank’s biggest non-US acquisition yet.
The deal sees US-based Duff & Phelps acquire UK corporate restructuring adviser MCR, which has an annual turnover of £21m, for an undisclosed amount.
Corporate partner Duncan Stiles led the Stephenson Harwood team acting for Duff & Phelps, which continues to expand in Europe following a number of American acquisitions.
Practitioners at MCR were appointed administrators of book retailer Borders and furniture chain MFI. It has offices in London, Birmingham and Manchester.
Stiles, at Ashurst until 2009, was one of a group of Ashurst partners who previously carried out small amounts of work for Duff & Phelps. Stiles’ first deal for the client came following his move to Stephenson Harwood after retaining links with the company.
Stiles has a sizeable US practice. While at Ashurst, he was the firm’s US liaison partner, working out of London.
The deal was also managed in-house by Duff & Phelps general counsel Edward Forman and in-house lawyer Christopher Matteson
Eversheds corporate partner Danny Hall in Manchester advised MCR, alongside real estate partner Phillip Tunney and corporate associate Amy Fairfoull.
Eversheds was introduced to a non-competitive pitch by MCR’s financial adviser Ford Campbell in Manchester.