Client Situation
- Global pharmaceutical major
- Market-leading, profitable, growing asset non- synergistic with remainder of the group’s businesses
- Existing regional partnerships, some lagging performance
- Desire to dispose of certain geographies entirely
Treehill Mission
- Initial "simple ask" to oversee transaction with one of the existing partners
Findings
- Existing partners were no viable buyers due to competitive situation along supply chain
- Significant upside opportunities identified but no plan to harvest and not factored into divestment considerations
- Corporate memory on asset erased, team had been let go
Recommendations & Implementation
- Re-instated prior team and corporate memory on the asset
- Comprehensive reverse diligence across supply chain, regulatory, sales & marketing, financial, etc.
- Creation of business plan and transaction materials for marketing as well as diligence
- Developed alternative strategic pathways, including a “hold and build” scenario – which was the CEO’s concluding choice
- Disposed 4 years later after implementation of growth, at a multiple of value