1 minute read | September.29.2023
Herter & Co., a leading independent debt advisory and financial restructuring firm in Frankfurt, Germany, will be acquired by global financial advisory firm Teneo.
Orrick advised Marcel Herter, the founder of Herter & Co., on the sale.
Herter & Co. advises European corporate and private equity clients on matters like refinancing and restructuring debt. It is one of the top five restructuring advisors in Germany.
The company has advised international firms including automotive supplier Leoni on restructuring and firms Hipp, Webasto and OHB on refinancing.
With the acquisition, Teneo is expanding its capital advisory across Europe. Teneo recently advised the U.S. group Carrier Global in Germany on the acquisition of the German heating manufacturer Viessmann.
The Herter & Co. team will join Teneo's fast-growing global Financial Advisory business.
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.
"We are pleased to join the Teneo family,” Marcel Herter said in a statement. “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."