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It had been agreed that the management team of this significant international function in a major plc would perform a management buyout to establish an independent company. This activity needed project managing to ensure a smooth transaction. It was particularly challenging because there was no functional expertise remaining in the parent company and a large tail of transactions would remain to be managed.
Our role was to act as a business project manager; to oversee the practical aspects of the project - identifying, documenting and resolving the issues to ensure that the sale to the normal standards for a divestment. In this case the most pressing matter was to protect the seller’s interests arising from the large number of outstanding transactions.
The first requirement was to identify all the issues that needed to be tackled. A small team was assembled to do this, gathering all the essential information in one place and conducting a risk assessment to highlight potential issues. This formed the basis of the project plan. Solutions were put in place for all the outstanding problems and backed up by contractual documents where needed.
The contract negotiators proceeded smoothly leading to a satisfactory MBO.
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