TowerBrook Capital to acquire the accounting and social management business from KPMG.

TowerBrook Capital, a private equity firm, agreed to acquire the accounting and social management business from KPMG, a multinational professional services network. Financial terms were not disclosed. "We are very pleased to have the opportunity to forge a large partnership with Jérôme Kieffer and the partners of KPMG ESC GS in order to establish a new independent leader in professional services for small and medium-sized enterprises. Its activities have a set of know-how and a unique local anchorage, serving more than 100k customers in France, allowing the company to position itself as the reference for advice to entrepreneurs in France. With our experience in the business services and growth projects, we are confident that TowerBrook will be an ideal partner to enable KPMG ESC GS partners to realize the full potential of the company. Finally, we would like to thank the Board of Management of KPMG in France for its professionalism and the quality of our interactions, which allowed us to reach this important stage. We look forward to working together to complete the operation," Édouard Peugeot and Jean Rollier, TowerBrook Capital Managing Directors.