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We work with integration PMOs, PE operating partners and transaction advisors on carve-out support when …

    #01 they’ve realised you can’t just copy what a seller is doing in each country and leave it there.

    #02 an alliance-friendly partner is needed in the mix – people who are comfortable in the boardroom, working and communicating smoothly with all global advisors, while working furiously in the engine room to deliver local infrastructure and compliance.

    #03 you recognise the potential for a negative impact on the J curve of (a) soaring professional fees to cover the remedial actions often needed to correctly sequence full entity activation in complex jurisdictions and (b) the long-term costs of being forced to settle for a sub-optimal infrastructure because time just ran out.

    #04 law firms and transaction advisors desperately want to help the client set up bank accounts in multiple territories but they know it is not just a matter of dialling up a global bank.

    #05 vendors pull out because they can’t cover your new geographic footprint; cater for wide variations in personnel numbers; or address compliance with local rules and regulations.

    #06 you find out that incorporation is the tip of the iceberg and that full entity activation is needed before you can hire people, sign contracts and do business.

    #07 your integration PMO hasn’t been given the time to properly evaluate the infrastructure build of their newco, with a compromised operational model looming.

    #08 you recognise that what you used to do in the parent company shouldn’t drive future thinking. You probably don’t need ‘luxury’ ERP from day one of operations, for example.

    #09 you don’t want to rush the development of your target operating model – but you need to meet the terms of your TSA.

    #10 you need a single partner whose geographic footprint matches yours.

    #11 when you don’t have a clear sense of cadence upfront – how long things will take, market by market.

    #12 you want to make a good impression on employees, customers and regulators – immediately.

    #13 you are experiencing the ‘long poles’, no one told you about – the months it can take, say, to open a bank account in parts of Asia and Latin America.

    #14 you want a shorter TSA to accelerate independence from the parent.

    #15 there’s no TSA at all and your deal hangs on you deploying new infrastructure – or the seller walks.

    #16 you’ve decided to outsource your back office but you don’t want a shared service centre far from your people on the ground and their very local concerns.

TMF Group owns the detail no one really wants to own in complex international transactions.

So, if deal fatigue sets in before the last couple of miles to completion, we pick up the baton to complete it fast – in the right way.

We deliver all the cross-border compliance and essential business administration needed to get your deal over the line and your company up and running before the seller has waved goodbye.

We make sure that the invariably small integration team is not left to cope with an invariably large succession of small problems. Spread across a complex carve-out, they can drag down the best of management teams in the first 90 to 180 days, impacting employee and regulator relations – and operating costs for years after.

To avoid the pain of carve-out

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