Realizing value from your carveout transaction requires balancing risk of the separation while optimizing the operations during the TSA period. Otherwise, you risk excessive fees, business disruption and other operational challenges to the new business. That’s where we come in—with deep experience in divestitures and carveout advisory, we roll up our sleeves to make your transaction a success.
Our award-winning M&A carveout consulting team supports more than 60 divestiture strategies and projects every year, ranging from $50 million to $20 billion and spanning industries from software to consumer and industrial products, to healthcare.
Standing up a successful new company requires more than transactional or carveout lifecycle experience. That's why our multidisciplinary teams bring together people with deep industry knowledge, technology skills, and the functional experience combined with the transactional knowledge you need to drive both immediate and lasting progress for the new company. We’re ready to execute the divestiture strategy side-by-side with your team, from diligence to separation execution.
West Monroe’s Carveout & Divestiture services are powered by Intellio® Deliver, which accelerates your separation timeline, maximizes value, and minimizes the risks associated with complex business separation. Intellio® Deliver is a centralized program management and collaboration tool that comes with industry-specific workplans and real-time reporting—meaning you spend less time planning and more time focusing on a successful separation.
Learn more about West Monroe’s Intellio® suite of assets that deliver results, faster
Our trusted M&A transaction advisors will assess key technology and operational risks while highlighting opportunities for growth and value creation following the carveout transaction. We focus on cross-functional and technology entanglements with the parent company. We tap into benchmarks and broad transaction experience to model the standalone run rate and one-time cost to separate, resulting in EBIDTA adjustments for our clients.
When it comes to recognizing digital opportunity, we know what to look for—because making businesses digital is what we do. Our digital due diligence looks at value creation potential from operational, commercial, customer, technology, and industry angles. Our team will create and test hypotheses, quantify potential P&L impact, and then provide a road map for realizing value creation potential. That way, you’re ready to tap into that value when your deal closes.
Leveraging our vast buy-side and execution experience, we also advise companies when preparing a division, business unit, or asset for sale. Sell-side readiness is key in a divestiture strategy because it benefits the management team in stress-testing their operations and identifying vulnerabilities early in the sales process. Any critical issues identified can either be immediately triaged or incorporated into the divestiture timetable to ensure a clean and effective separation—and reduce the risk of purchase price reductions.
In addition to preparing the necessary due diligence materials we develop a cross-functional standalone operating cost model across people, systems, applications and contracts. This exercise identifies both gaps and cost takeout opportunities, providing confidence in the spin off company’s cost structure.
Transition Service Agreement (TSAs) is a unique carveout attribute that adds to deal complexity and cost. As the due diligence phase shortens, the timeline to agree to TSAs is a top priority. Successfully navigating TSAs requires collaboration with several stakeholders including M&A advisors, general counsel, and bankers. Our balanced approach ensures:
Our proven planning tools and experience can help you expedite the process of building the separation work plans, Day 1 checklists, and TSA governance. So you can be sure that you’ve covered all the bases for getting to Day 1—and beyond.
Traditional merger integration efforts, delivered through siloed functional teams, can sometimes lose sight of synergy objectives. Business cases are often built on squishy data from diligence and teams are prone to distraction by myriad competing priorities during execution. The Value Management Office (VMO) approach takes a different approach. We spend dedicated time refining and enhancing value creation opportunities and tailor the team structure to prioritize the efforts that drive real value, giving you control over your synergy objectives.
How should NewCo balance optimization vs. risk mitigation when defining the post-carveout operating model? That’s where we come in with our V2R (value to risk) framework. We define a target operating and capability model for success—including skills, organization structure, operating norms, business processes, technology, vendors, metrics, and culture. Our library of industry-specific target operating models can help you jump-start this process.
Execute with confidence. Under the leadership of our SMO, you can be sure that you’re using proven carveout program management approaches and processes for tracking progress. Our digital SMO tools and dashboards minimize administrative workload during execution. So you can accomplish your goals with leaner teams.
Leverage modern technology—for example, cloud infrastructure and digital/data platforms—to build an agile, scalable organization from the outset. We use proprietary enterprise resource planning (ERP) carveout data migration tools and accelerators for SAP, Oracle, and NetSuite to rapidly exit TSAs. We also help you identify and establish other core systems you will need for Day 1 and further into the future to support the divestiture strategy—for example, data and business analytics, human capital management (HCM) and payroll, and customer relationship management (CRM) systems. We have a proprietary infrastructure and security reference architecture “in a box” utilizing AWS and Microsoft to accelerate the foundational infrastructure separation.
Advance your pace of transition with our proven CORE approach. Staffed with true functional experts, CORE provides “practitioner” expertise and interim leadership for key functions such as human resources, finance, cybersecurity, and information technology beyond closing—when many other service providers exit. CORE is designed to consolidate functional areas that typically comprise 60% to 80% of the one-time separation budget following a divestiture. It can reduce the number of vendors required, as well as the program management risks.
Interested in easier, better M&A? Private equity firms that buy, build, and sell platforms can use West Monroe’s Intellio® suite to drive more value.
Kirsten guides clients through complex carveout and merger integration projects – always with an eye toward making the investment thesis a reality.
Keith leads the firm’s highly skilled divestiture & carve-out center of excellence within M&A. He is also a father of three young girls.
Matt guides the collaboration of diverse functional practices that all contribute to helping clients realize the value and benefits of becoming digital.
A seasoned M&A technology leader who equips clients to realize value from their technology investments, Antony is co-leading the expansion of our M&A practice in Europe.
Tom brings senior financial leadership—including experience as a CFO and controller—to clients navigating the complexities of a major transaction.
Andrew supports clients across the M&A lifecycle – from transaction advice and planning to execution – by ensuring the best use of technology investments.
Jennifer’s collaborative style and ability to solve business problems with technology creates tangible operational impact and enables new revenue streams.
With decades of tenure as a technology officer for private equity-owned businesses, Albert understands how to apply technology to drive profitable growth.
With a particular focus on the software and tech-enabled businesses, Rainer provides transaction advisory that sets the stage for value creation.
Dan has refined the art of balancing organizational requirements and technology capabilities to navigate M&A complexities and deliver the intended value.
A career-long innovator with a passion for emerging technologies, Mark has a track record for developing new applications that solve business challenges.
Always with an eye on value, David guides tech centered organizations through M&A, market disruption, and other complex, transitional situations.
Melanie’s extensive experience helps clients quickly gain value from large, complex strategic IT, outsourcing, and business transformation initiatives.
Stephen helps clients across the healthcare ecosystem navigate strategic, organizational, and execution challenges to improve the top and bottom line.
Jim delivers the complex, transformational technology initiatives that are at the heart of deriving value from a merger or acquisition.
With an eye on creating results through value chain optimization, analytics, and digital capabilities, Jonathan leads clients through complex transactions.
Dan is an accomplished deals practitioner and technology strategist who turns technology investments into tangible value for M&A transactions.
Dan applies his experience gained on more than 100 M&A transactions to help his clients realize their investment thesis and maximize value from deals.
Kate is a director in our Healthcare & Life Sciences practice who helps clients navigate the healthcare M&A space.
Mike applies a deep understanding of the private equity industry along with a strong technology background to 30+ M&A transactions a year.
Connor has translated extensive carve-out, divestiture, and spin-off experience into hundreds of millions of dollars of value for his clients.
Christina protects companies, including private equity firms and their portfolio companies, from the risk of cybersecurity attacks.
Foster is a partner in our Mergers & Acquisitions practice and the Central Region lead for carve-out services.
Chris is a leader in our M&A practice, advising investors and portfolio companies in the High-Tech/Software space on investments and growth strategies.
Chip is a senior manager supporting clients across the deal life cycle, focusing on leadership of integration diligences, planning, and management offices.
Greg brings his background in accounting, business, and technology experience to help his clients navigate critical and complex projects.
With a keen understanding of many industries and functional and technical areas, Jon brings a unique perspective to his clients.
A senior partner in our High Tech & Software practice, Dhaval advises private equity firms and their portfolio companies across the investment lifecycle.
Peter heads up West Monroe’s rapidly growing New York City office, one of the state’s best workplaces, while also leading our M&A practice in the region.
A partner in our M&A practice, Andy excels at helping private equity clients successfully navigate complex transactions.
Neil is a partner in our High-Tech & Software practice. He excels at helping technology companies improve revenue growth and expand profit margins.
Brad Haller is a senior partner in West Monroe’s M&A practice, leading the firm’s merger integration capabilities.
Ken’s diverse background helps him guide his clients to realize the value of technology and digital initiatives.
With a focus on driving enterprise value for his clients, Scott builds collaborative and cross-functional teams.
A senior manager in our Mergers & Acquisitions practice, Matt creates measurable value in all phases of the integration lifecycle.
Adam has expertise in advising private equity and public companies across all stages of the M&A lifecycle.
Tim is a results-driven M&A leader in due diligence and carveout deals across the transaction life cycle.
Jeremy works with clients across the deal life cycle, from strategic planning through value realization, to achieve enterprise and investment objectives.