Good exits are built across the hold period, not in the last six months. The key is to build up supporting evidence a buyer finds compelling.
An equity story is evidence accumulated over years, not a document written in the last six months. The three-horizon plan keeps exit-relevant options developed throughout the hold period, so they don’t get haircut by the next owner.
A 5-store US pilot was opened as a working demonstration that the US market was the obvious expansion path. Short-term profit or loss in the pilot was irrelevant.
The full story →Buyers aggressively discount anything they do not want because of the disruption required to execute a disposal themselves. Portfolio shape is an exit lever, whether the exit is a sale, a carve-out, or a break-up.
After a major convenience acquisition, I worked on disposing of the non-core rump estate, leaving a coherent 900-store business. What went included kiosks, tiny stores and stores with the wrong foot traffic.
The full story →There are two right moments to divest: when there are willing buyers, and while the asset’s record is impeccable. With a clean track record the only possible surprise is a bad one: a single LTM blip breaks the curve.
A highly seasonal, non-core global publishing brand was divested with a consistent growth path, when there were active buyers in the market. It was sold to a buyer who was confident they could take it further. A fragile but consistent growth trajectory was locked in at a healthy disposal value.
The full story →The method in full, in the investment lifecycle article: Positioning for Exit.
It is never too early to think about an exit. The work starts now.
I don’t need any detail. I will set up a short call. No charge, no deck, and no follow-up unless you ask for it.