Eight Advisory expands restructuring practice with Johannes Steinel
Frankfurt — With a new partner, the European transaction and transformation advisory firm Eight Advisory on further growth and the expansion of strategically important business areas in the German-speaking region: As of September 2021, Johannes Steinel has joined Eight Advisory in the restructuring practice — the proven expert for turnaround situations and restructurings is to strengthen the area with his know-how and further intensify the business from the Frankfurt and Zurich offices.
Johannes Steinel had most recently worked as a partner at EY and previously PwC. Based on his 25-year career, he also has extensive experience in the areas of financial and operational restructuring, liquidity management and private equity in various roles, including at the consulting firms AlixPartners and KPMG, the private equity firm Capvis and Deutsche Bank. The 50-year-old focuses on holistic and sustainable value creation and turnaround solutions in special situations for his mandates, which are mostly in the corporate and PE environment. He also regularly takes on interim manager or CRO roles. Johannes Steinel graduated with honors in economics from LMU Munich and is a guest lecturer at INSEAD.
“We are pleased to welcome Johannes Steinel, an experienced expert in turnarounds and restructurings. Our goal is to establish and expand a strong presence in these fields in the German-speaking markets, following our market-leading restructuring practice in France,” explains Michael Wahl, Managing Partner of Eight Advisory in Germany. This underscores the expansion ambitions of the consulting firm, which is one of the fastest growing independent providers on the European market: Founded in France in 2009 by former “Big Five” employees, Eight Advisory now employs a total of more than 500 people at eleven locations in six countries. In the current ranking of the industry service Mergermarket, Eight Advisory is ranked sixth in Europe in the Transaction Services 2020 segment.
In the DACH region, Eight Advisory has been represented since 2018 with the opening of an office in Frankfurt am Main — Munich (2019), Zurich (2020) and Hamburg (2021) have since been added as additional locations. The client base and the team there are growing continuously, so that the region is now the company’s second largest market after France.
After the nucleus, the comprehensive support of entrepreneurs, managing directors, investors and bankers in transaction preparation and support, corresponding practice groups were also established for M&A Tax, Transformation, Infrastructure and Project Finance and, most recently, Restructuring and Performance Improvement. “We see strong demand for independent, flexible consulting in these areas and continue to strengthen our team with experienced talent at all levels of the hierarchy,” Wahl said. The region now employs 38 consultants, including six partners, who advise numerous well-known clients on complex issues — in the current year alone, this has involved 50 transactions and projects.
About Eight Advisory
Eight Advisory advises entrepreneurs, CEOs, investors and banks on transactions, transformations, infrastructure projects and project financing as well as restructuring and performance improvement. Eight Advisory is a European group with over 500 employees, including 66 partners, and with offices in Germany, France, the UK, Belgium, Switzerland and the Netherlands. As a founding member of Eight International, the company can draw on a global network of more than 2,500 specialists in over 20 countries in Europe, America, Asia and Oceania. www.8advisory.com