Corporate carve-outs are a different beast than plain vanilla sell-side M&A. Clients often prize speed and certainty of close, so time is short, stress is high, and value can be easily destroyed in the separation. The game is separating the precise assets and teams that go with the carve-out and which remain with the mothership.
Running a process specific to carve-outs that is manageable, flexible, and scalable is key to success. We’ve earned our stripes by getting clients considerably more money with lowered deal risk when divesting their companies than they could have gotten with other advisors or on their own.
What stays? Who goes?