Background Information

The business operated as a cloud computing service provision company with bases in London and Kenya.
Due to financial distress and pending insolvency, we were asked to market the business seeking a potential sale potential to allow for a pre-pack Administration, in order to safeguard income streams, debtor ledger and jobs. 

This long-term client required a short notice international advertising exercise, together with the negotiation for a successful sale to a third party within a short timeframe. Given the nature of the business, complications with the geographic bases and need to relocate the London base, a successful conclusion was uncertain.

Challenges

The different international locations, legal systems and requirements for a property move in the short term were challenges to overcome, potential value also lay primarily in the ongoing contracts, none of which were guaranteed.

Our Solution

Through broadcast marketing and negotiation with a number of interested parties we were able to table a deal whereby all jobs were saved, and the company transitioned into a larger practice, all within a very tight timescale.

The Results

The final result was far in excess of any tangible or intangible asset base’s intrinsic worth, with the contract and ledger recoveries providing for additional consideration, in addition to the saving of a number of jobs in both countries.

Exceeding Expectations

The successful deal incorporated a twelve month performance related conditional consideration programme, which we were able to monitor and control throughout. This maximised returns to creditors through value recovery on retained contracts, including the debtor ledger which for continuity was collected and distributed within the deal format.