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Pre-bid M&A Evaluation

Client: GB £ 400m turnover UK based vehicle leasing business

Project: Pre-bid M&A evaluation

Situation

Our client was considering expanding into Europe by acquisition. One target was a GB £100m (A$ 250m) turnover vehicle leasing company in Germany.

We were asked to assist with due diligence work provided the UK client with the correct information to decide whether or not to expand into the German market.

Task

Our role in this assignment was to:

  • To work with the Operations Director to carrying out due diligence (in English & German languages) of the German target in Germany
  • To assess the market place competition and dynamics
  • To evaluate existing operations and devise synergies with associated benefits & risks
  • To present back to the client in the UK.

We used a structured method over a four week period:

  • To review the existing operations
  • Compare and contrast versus the known UK operations
  • Evaluate the areas of difficulty and risk
  • Prepare a final report

Outcome
  • We provided a structured report that outlined the target's operations and evaluated the areas of risk for our client
  • Based on the information gathered and the level of risk and reward associated with the project, our client decide that they were not yet ready to go ahead with a European Acquisition. This saved them over many millions in avoided capital investment.

 

"We needed Success Enterprises Ltd to help us with the analysis work. They did a great job in structuring the information that we gathered, in helping us work in a foreign country and then helped us to think through the opportunities and risks. In the end, we saved a lot of money by not going ahead with the transaction, since as an organisation we were not ready for that next step."

TW, Operations Director




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