Carve-outs
At the start of a carve-out project, a strategic question often arises: how can a company best position itself to be sustainably successful? In times of transformation, volatility, and change, this is no easy task. Often, the focus is on the core business – making it resilient, evolving it, growing it, internationalizing it, and so on.
But what happens with the peripheral areas? Do they function simultaneously across multiple segments, and are sufficient financial resources and management capacities available? Or is the key question where to best allocate limited resources to create value?
The issues are multifaceted. The common solution for handling non-core businesses is often to spin them off – a concept that is simple in theory, but extremely complex in execution.
Therefore, we offer extensive advisory services and expertise in the preparation and execution of carve-out transactions (M&A). With our interdisciplinary consulting approach, we support the entire carve-out lifecycle – end-to-end. Specifically, we assist medium-sized companies and corporations with:
- Strategic portfolio analysis to identify and evaluate business units and activities,
- preparing a carve-out, for example through the design and conceptualization of the carve-out model up to performance and financial planning (carve-out factbooks),
- guiding and managing the M&A process on both the buyer’s and seller’s sides,
- and ensuring the successful implementation and realization of the carve-outs.
We address operational, financial, legal, and tax issues regardless of whether the implementation occurs in a transaction context (e.g. a spin-off), in the preparatory phase (e.g. prepacked structures), or as part of an M&A deal.
On the buyer’s side, our support goes beyond transaction origination and execution. What is spun off on one side, we reintegrate on the other. Our teams also assist with post-merger integration, providing a comprehensive 360° perspective from a single source.
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