Eight Advisory supports its clients with respect to the financial and operational aspects of pre & post-deal situations (carve-out, build-up, integration…) from the strategic portfolio review stage to post-deal execution.
We propose to mobilize experts in Finance, Tax, operations, separation and integration support (incl. IT). Our expertise in this kind of engagement and the fluid communication between the different teams will be the key factors of success of the project.

Carve-out | Pre-deal project – from the strategic review to Due diligence

We look at the operational and organisational changes due to the carve-out to identify the operational impacts arising by the disposal of assets (corporate functions, pooled resources, shared contracts, IT, etc.). We qualify together with the financial team standalone and recurring costs and related one-off costs.

We also define the Transitional Services Agreement (TSA) ensuring continuity of the business during the transitional phase.

  • Carry out a strategic review of the group’s assets in relation with market dimensions to identify potential opportunities in terms of assets disposal,
  • Assess carve-out feasibility and difficulties: operational entanglement areas, group procurement contracts, shared functions, IT dependencies…
  • Design an efficient carve-out operating model generating sustainable value,
  • Estimate standalone costs, recurring and exceptional, arising from the separation (corporate functions, pooled resources, shared contracts, IT, etc.)
  • Explore needs for TSAs (transitional services agreement) and long-term contracts (Manufacturing, IP agreement…),
  • Support the legal structuring (share/assets deal),
  • On sell-side, design the remaining business operating model and support the reorganisation
  • Support the separation with our experts in supply chain, manufacturing, IT, Data analytics, HR, commercial effectiveness, CFO advisory, change management.

Carve-out | Day 1 readiness – from Offer process to the Closing

  • Secure deal implementation: define and implement the carve-out checklist to ensure business continuity
  • Design transitory / new processes to make TSA and SLA operational at Day 1
  • Ensure operating model and processes are efficient and in place to be standalone-ready (autonomy on treasury, contract novation / new contracts signed, people transfer / recruitments…)
  • Support stream leaders with functional expertise for both support functions and operations
  • Set-up hands-on project management approach based on 8A carve-out toolkits (governance, project pace, Chief Transformation Officer toolkit, change management) to mobilise right level of resources (in seniority, in time and commitment) to secure Day 1 readiness.

M&A – Synergy assessment – from the strategic review to Day 1

Our detailed synergy due diligence identifies all tied-up synergies that can be missed in a traditional top-down approach.

Using our sector and functional expertise, we assess all possible sources of value creation when merging your company with the target (organization, purchases, industrial or logistics plan, support functions, etc.). We quantify all these synergies, find ways to minimize their implementation capex and costs, assess the potential risks and define an implementation roadmap so that your teams are able to implement it as soon as the acquisition is closed.

  • Identify all tied-up synergies that can be missed in a traditional top-down approach
  • Assess all possible sources of value creation when merging your company with the target (organisation, purchases, industrial or logistics plan, support functions, etc.)
  • Quantify all synergies and dyssynergies and integrate all assumptions within a robust business plan
  • Find ways to minimize the synergies implementation capex and costs
  • Assess the potential risks and define an implementation roadmap

M&A – Integration – Post Closing – Day 100 plan

  • Set-up a tailor-made post-merger integration (PMI) strategy to activate identified synergy levers and maximize value
  • Define a convergence plan per key streams to implement appropriate target operating model
  • Monitor synergies (actual vs forecasts) and one-off costs
  • Design Day One & 100-Day plan, providing hands-on support with 8A toolkits and capabilities
  • Support the integration with our experts in CFO advisory, Supply Chain, manufacturing, IT, Data analytics, HR, Sales effectiveness,
  • Set up efficient communication plan & change management

Standalone operational due diligence

Are you looking to obtain better insight into the operations of a target that you plan to acquire?
We leverage on our proven methodology and on our deep expertise in the relevant industry sectors and functions to thoroughly assess the target’s operations throughout the entire value chain.

We deliver a description of the target’s current maturity for each of its relevant geographies and topics, challenge the management team’s business plan, identify and quantify additional value creation levers as well as potential risks. We also assess the needed implementation capex and costs, timing and prerequisites of the levers, so that you can build them into your valuation of the target and into your future value creation plan.

Business cases

Ensuring reliable financial reporting

Mise en place d’une clôture mensuelle / Reporting

Plan de transformation

Analyse de synergies