The issue
A large automotive supplier was anxious to sell one of its less profitable businesses. At the same time, it also wanted to obtain the best possible prices for the asset --- which it originally had acquired at considerable cost --- while minimizing disruption to the company’s other operations. With these goals in mind, the company turned to PricewaterhouseCoopers to manage the sell process.
Our approach
The PricewaterhouseCoopers Transactions Services team began by identifying vulnerabilities and issues prospective buyers might raise during their due diligence and advising the client on ways to position the business up for sale. As the sale process picked up momentum, the PricewaterhouseCoopers team advised investment bankers and legal counsel on offering memorandum and selling documents, assisted in preparation of well supported financials, and coached management on their sales presentations.
The outcome
The outcome of these efforts was wholly positive. Our client sold its business for approximately 40 percent more than anticipated. Moreover, because all issues regarding the business for sale had been raised and vetted from the beginning of the process there were “no surprises” --- and no adjustment of purchase price from the initial offer to the closing. Post-close, PricewaterhouseCoopers helped the client with a plan to rebalance its operational resources and provided implementation support for that transition
