• +91 6366 092 750
  • rickysaraf@hillpineconsulting.in
  • Georgia 30228, USA
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Exit readiness

A sell-side mandate in connection with the potential divestment of a small-cap Indian operation of a listed European player as the seller prioritized resource/ financial allocation to other geographies.

The business generated revenues of INR 400 million with a mid single digit EBITDA margin.

Key sticking/ pain points:

  • Economic/ financial performance not monitored regularly, and no data point to back equity story;
  • No structured / methodical approach to form cautious and stretched views on the go-forward trading and cash flow profile of the business;
  • No visibility on the key metrics typically evaluated by strategic and financial bidders;
  • Limited management bandwidth to balance the sell-side exit process without jeopardizing the day-to-day business operations.

Hillpine’s value proposition

Data preparation & structuring

  • Ensured data harmonization between financial system and other operational software
  • Build up a transactional level database comprising several data fields, facilitating revenue/costs slicing
  • Distilled the key findings/ drivers (graphically) to corroborate the growth story and building defense for red flags

Exit readiness documents

  • Structured transactional database;
  • Integrated sell-side vendor assist comprising
  • Historical trading performance;
  • Current trading evaluation;
  • Diligence key forecast assumptions
  • Capex requirements
  • Underlying earnings/ WC
  • Sell side financial model comprising the free cash flow derivation in bull, base and bear case scenarios

Overall management of the transaction/project

  • Organization of relevant/ pertinent documents in the VDR;
  • Scheduling and steering discussions with prospective bidders;
  • Leading and managing the Q&A process and expert sessions