From portfolio decisions to separation—unlock value and transform what remains.
Divestitures and separations
Overview
Whether reshaping your portfolio, responding to activist or regulatory pressure, or unlocking capital for reinvestment, we help you from strategy through close and beyond across carve-outs, spin-offs and full sales—with speed and measurable outcomes. Most firms focus on getting the deal done. PwC focuses on what comes next—positioning both RemainCo and the carve-out entity to unlock value and drive long-term growth.
Market trends
Capabilities
- Portfolio Strategy & Value Assessments
- Deals Strategy and Value Creation
- Due Diligence
- Tax Structuring
- Carve-out Financials
- Separation Management Office
- Operational Separation and TSAs
- People Strategy and Organization Design
- Technology Strategy
- Stranded Costs
- Transformation
Portfolio Strategy & Value Assessments
Your portfolio is your most powerful strategic lever. We help you assess where to invest, enhance or divest—grounded in financial analysis, market intelligence and strategic fit. Our approach accelerates time to market, improves cash flow outcomes and increases shareholder value, helping you build a clear, board-ready narrative.
Deals Strategy and Value Creation
Turn your transaction into a catalyst for value. We align deal strategy with execution by combining commercial diligence with operational and financial insights to identify growth opportunities, assess market dynamics and unlock margin expansion early.
Due Diligence
Control the narrative through sell-side diligence. We analyze quality of earnings, standalone cost structures and key value drivers—helping you identify risks early, strengthen negotiation positioning and safeguard deal value.
Tax Structuring
Each carve-out has a unique tax profile. We design efficient tax structures that reduce transaction taxes, preserve attributes and improved cash flow and financing—supported by our global tax network.
Carve-out Financials
Prepare robust, auditable carve-out financial statements using proprietary technology and AI-enabled automation. We reduce timeline risk and confirm financials meet regulatory and stakeholder expectations.
Separation Management Office
Establish governance early with structured tools, milestones and reporting. Our SMO provides real-time visibility into separation progress, aligning cross-functional teams and reducing execution risk.
Operational Separation and TSAs
Execute complex separations across HR, IT, finance and operations. We define and manage TSAs, renegotiate contracts and implement tailored roadmaps to minimize disruption and safeguard value.
People Strategy and Organization Design
Navigate workforce impacts and retain critical talent through organizational design, communication strategies and AI-enabled workforce planning—helping both RemainCo and the carve-out entity succeed.
Technology Strategy
Address complex IT separations across applications, infrastructure, cybersecurity and data. We design architectures that reduce disruption and position both entities for independence and growth.
Stranded Costs
Identify and manage stranded costs early using AI and analytics. We model cost trajectories and design remediation plans aligned with TSA exits and RemainCo’s growth strategy.
Transformation
A divestiture is an opportunity to reimagine how your business operates. We help redesign operating models, capabilities and organizational structures so both entities emerge stronger and more focused.
Insights
Divestitures are more than transactions—they’re an opportunity to unlock value, reduce complexity and reshape the remaining business for growth. We help clients move quickly from strategy to close and beyond, using data and AI-driven insights to turn separation into a catalyst for transformation and long-term value creation.
Michael NilandUS Divestitures Services Leader, PwC US
