A FTSE 250 company, and a leading UK business within its sector, pursued a successful acquisition strategy in late 2015 resulting in the purchase of a group of businesses that have subsequently doubled turnover. This acquisition strategy brought with it a number of restructuring issues which needed to be solved, including the acquisition of a diverse portfolio of dormant entities.
To assess its restructuring options, the business reviewed potential partners to execute their corporate strategy and chose ReSolve based on track record, engagement style and value. It was an important decision as the success of the acquisition overall would in part depend on the restructuring outcome.
ReSolve experts, working closely in collaboration with the business’ legal, secretarial and finance teams, were able to quickly assess the initial scope and propose a corporate restructuring plan with a first tranche of almost 50 dormant entities being placed into a solvent liquidation process and removed from the regulatory financial reporting environment. Dealing with, amongst other things, loss of corporate memory, and ensuring a smooth and low risk process, ReSolve is seeking to provide a quick, effective and permanent solution. It’s a great example of helping a successful business grow and deal efficiently with the complexities that arise from consolidation.
Ben Woodthorpe, Principal at ReSolve and leading the project noted that ‘It’s an exciting project on which to be engaged, working with an ambitious organisation that is competing successfully in its sector’.