Corporate M&A Group Needs Senior Resource Support
One of the largest private companies in the U.S. (over $7 billion in revenue), a leading provider of specialized distribution and other diversified services within the wireless ecosystem had recently become majority owned by a large, foreign holding company with competing business interests. Among many other strategic priorities, this ownership change instigated the required sale of a very large business in parallel with 7 other transactions; the internal M&A team was overworked and understaffed with no further capacity to take on an eighth deal. Accordion was engaged to lead the divestiture of assets and transfer of people associated with a $1.9 billion sales business that was commingled with other activities in the US division of this multi-national firm (local presence in more than 50 countries and delivers products and services in over 125 countries).
Mobilize quickly, Provide Project Leadership
- Accordion immediately deployed one of its senior consultants, who has years of domestic and cross-border M&A and private equity experience. His worked spanned multiple complex deals across a variety of industries with over $23 billion in completed transaction value.
- Within 72 hours of the initial call, Accordion was on the ground alongside the Client’s US business CEO and CFO to participate in a management meeting with the first prospective buyer (a group of local industry executives backed by one the largest companies in the world and based in Asia).
- Managed the internal (sell-side) due diligence process and disseminated data and responses to external (buy-side) parties.
– Ran all diligence meetings, gathering necessary information and completing associated ad-hoc analyses.
– Led regular internal and external deal review and issues calls.
– Collaborated with C-level and other senior management team members internally and externally on a daily basis.
- Advised on and developed the carve out and transition plan for seller and structure of transition services/3rd party logistics agreements with buyers.
- Worked with internal and external counsel to draft APA, TSA and other legal documents.
– Negotiated documents alongside Client’s senior management.
- Coordinated inventory and accounting audits and deal issue resolutions with inside and outside counsel, inside and outside finance and accounting management and consultants/advisors across the US and Asia for two buyers and the Client.
Two Fully Diligenced and Negotiated Sale Options
- Accordion helped the Client successfully facilitate the full start to finish M&A process for one international bidder and one domestic bidder simultaneously with deals for each negotiated and agreed to in principle.
- Despite international regulatory issues and customer contract complications that prevented the transactions from closing, Accordion’s expertise in M&A transaction execution enabled the Client to properly diligence and negotiate two viable sale options.