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Management advisory

Negotiating the right deal and structure for you and your team

It is here that we make the difference.

As independent advisers, we draw on our experience to create clarity and provide the relevant information you need to assess your options and shape the right outcome. We support and advise management teams throughout the transaction.

A private equity transaction is a significant moment for any management team and the bidding process brings with it multiple demands on your time.

Questions will arise too. What do private equity houses expect now and after the deal has been done? How will the management incentive plan be structured? How do I assess and compare what is being offered?

Our sevices

We are a market leader in advising management teams in private equity transactions

Structured sales process

  • Detailed analysis of all aspects of investor proposals
  • Advising on and negotiating equity incentives and remuneration
  • Ensure management understand the economic impact of the terms offered by bidder(s)
  • Guidance on design and structure of incentive equity scheme and on individual allocations
  • Co-ordinate with management legal and tax advisers to ensure agreed term sheet positions are reflected in Newco Investment documentation

 Management buy out

  • Introductions to potential equity and debt providers 
  • Detailed analysis of all aspects of investor proposals
  • Advising on and negotiating equity incentives and remuneration
  • Ensure management understand the economic impact of the terms offered by investor(s)

Public to private transaction

  • Advising management team during pre-offer investor discussions
  • Advising on and negotiating equity incentives and remuneration
  • Guidance on design and structure of incentive equity scheme and on individual allocations
  • Co-ordinate with management legal and tax advisers to ensure agreed term sheet positions are reflected in Newco Investment documentation

Market listing

  • Advising on and negotiating mix of pre-IPO cash out and post-IPO investment
  • Reviewing and advising on pre-IPO exit waterfall and re-organisation
  • Considerations around a typical listed plc incentive plan
  • Benchmarking guidance on compensation and LTIP performance measures

Restructuring or re-incentivisation

  • Support in evaluating and understanding the investor proposal 
  • Advising on design and structure of new equity incentive schemes (real and synthetic)
  • Advising on implementation of wider employee incentive schemes
  • Modelling terms to illustrate returns in a range of exit outcomes
  • Review legal documentation and ensure it reflects agreed commercial terms

Growth capital fund raise 

  • Detailed analysis of all aspects of investor proposals
  • Advising on and negotiating equity incentives and remuneration
  • Ensure management understand the economic impact of the terms offered by bidder(s)
  • Guidance on design and structure of incentive equity scheme and on individual allocations
  • Co-ordinate with management legal and tax advisers to ensure agreed term sheet positions are reflected in Newco Investment documentation

Merger or major acquisition

  • Support in evaluating and understanding the funding options and the revised capital structure
  • Advising on any changes or new proposals on the equity incentives
  • Modelling terms to illustrate returns in a range of exit outcomes

New joiner to an existing incentive plan 

  • Support in evaluating and understanding the investor proposal 
  • Advising on and negotiating equity incentives and remuneration, including benchmarking equity allocation
  • Review legal documentation and ensure reflects agreed commercial terms
  • Modelling terms to illustrate returns in a range of exit outcomes
Hindawi

Latest transactions

Liberty advises the management team of Hindawi on its acquisition by John Wiley & Sons for $298 million

Hindawi

7 Jan 2021

View: Hindawi

LivaNova HV

Latest transactions

Liberty advises Christian Mazzi as incoming CEO of the HV business of LivaNova on the €60m acquisition by Gyrus Capital

LivaNova HV

18 Dec 2020

View: LivaNova HV

Millbrook

Latest transactions

Liberty advises the management team of Millbrook on it’s acquisition by Eurazeo backed UTAC CERAM

Millbrook

11 Dec 2020

View: Millbrook

Compre

Latest transactions

Liberty advises the management team of Compre on the acquisition by Cinven and BCI.

Compre

30 Nov 2020

View: Compre

Exemplar

Latest transactions

Liberty advises the management team of Exemplar Health Care on the sale by Agilitas to Ares Management Corporation

Exemplar

23 Nov 2020

View: Exemplar