Advising and implementing a multi-disciplinary, comprehensive exit solution for underperforming and non-core businesses.
Even strong businesses can face the challenge of how to close or exit underperforming operations or divest from illiquid assets. We free up management time and capital for clients through a combination of strategy development, detailed planning and hands-on implementation.
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What We Do
At Teneo, we’ve developed comprehensive solutions to help businesses evaluate their options when contemplating an exit strategy.
Our multidisciplinary Managed Exit service, led by our financial advisory team, advises corporates on fixing, selling, or closing underperforming and/or non-core areas of their business.
We work alongside the business throughout the process, from developing an initial strategy through to detailed planning and hands-on implementation of the exit. The ultimate goal is to free up valuable capital and management time.
Our team’s multi-faceted skillset and depth of experience offers our clients a level of support that is unmatched by any other advisory firm in the world. Teneo’s Restructuring experts also tap into the expertise provided by our other business services such as strategic and communications advisory, management consulting and risk advisory to offer a comprehensive integrated solution for our clients.
Exiting a non-core, loss-making, or underperforming business requires dedicated, on-site specialists to plan and project manage, especially as many businesses do not have the experience or bandwidth to manage the process in-house.
Working with advisers makes commercial sense and can bring significant implementation support. For some businesses, this is a defining moment for the future of the enterprise, one that can release tangible benefits to the bottom line.
Where retention is a possible option, we develop short or long term strategies in collaboration with our Teneo Value+ team, providing access to turnaround expertise focused on cost reduction, streamlined operations and working capital improvement, with consulting expertise in revenue and margin growth.
Where the business is underperforming or non-core, a speedy outcome is often preferred and this is where our Special Situations M&A team support clients looking for a prompt disposal of all or part of the non-core or underperforming operation.
Our restructuring specialists provide hands-on project management and implementation support including the development of detailed exit plans, management of employee communication and consultation, project management and hands-on implementation of any closure.
An exit from a non-core operation, particularly across multiple locations, can be complex. That’s why our team includes experienced and knowledgeable subject-matter advisers from across the breadth of the Teneo organization to help you evaluate, construct, and deliver a comprehensive and custom-made exit program.
An automotive manufacturer needed detailed and tailored guidance through the operational wind-down of domestic and overseas manufacturing activities.
Teneo’s Managed Exit service advised the overseas group on its exit strategy, project managing from initial feasibility assessment through to formal announcement of the exit. The team drew on Teneo’s breadth of capabilities, including restructuring, employee relations, M&A/valuations, domestic and international tax, public relations, and crisis planning.
Closure announcements are often high profile so a carefully coordinated stakeholder communications plan is essential, especially in the context of a global organisation. The Managed Exit team used their international experience and the breadth and scale of Teneo to support the client with one of their most challenging business problems.
A global technology company wanted support with considering options for unprofitable divisions in the UK and Belgium.
We gathered a multi-disciplinary team to perform an options analysis for the unprofitable divisions, including partial divestiture and wind-down considering financial, reputational and operational risks. Subsequently we supported with project managing the implementation of a closure planning and partial divestiture exercise.
The closure planning exercise identified potentially significant financial and commercial risks and was essential to the process to not only have a plan B but also support decision making regarding the sale process. A partial divestiture was achieved with the residual business units wound-down utilising the plans we developed.
A family owned manufacturing business in the UK had a loss-making operation that was deemed to be noncore.
The client wanted support in reviewing options, developing closure plans and with the subsequent implementation of a solvent closure.
Working with management, Teneo’s Managed Exit team conducted a rapid diagnostic to analyse potential exit options and any key issues to be addressed. The team was then engaged to project manage and implement the wind-down and closure of a UK manufacturing site, including co-ordination of employee consultation and stakeholder communication.
The creation of a detailed PMO to prepare plans for management to implement was critical. The team worked alongside the client during the implementation phase and closely monitored progress to improve accountability.
Details of the entity providing services, legal and regulatory information in respect of the Teneo entity are also included in our engagement letters.
Teneo Financial Advisory (DIFC) Limited is authorised and regulated by the Dubai Financial Services Authority for the provision of Advising on Financial Products or Credit and Arranging Credit or Deals in Investment services
Specific information relating to our regulated entities which provide services to clients is detailed below:
|Registered Name||Legal Form||Registration Location and Reference||Registered Office||Data Protection||Regulator(s)||Professional Indemnity Insurance|
|Teneo Financial Advisory Limited||Limited Company||England & Wales, 13192958||5th Floor, 6 More London Place, London, SE1 2DA||UK - ZA920639||The Institute of Chartered Accountants in England and Wales (“ICAEW”) C008873136. All insolvency practitioners are licenced by the ICAEW. ICAEW Designated Professional Body licence for a range of investment business activities.||Details of the professional indemnity insurer can be provided on request.|
|Teneo Securities LLC||Limited Liability Company||USA - Delaware||280 Park Avenue, 4th Floor, New York, NY 10017||N/A||Financial Industry Regulatory Authority (FINRA) #151256. Securities and Exchange Commission (SEC).||Details of the professional indemnity insurer can be provided on request.|
Teneo Securities LLC’s Business Continuity Planning
Teneo Securities LLC has developed a Business Continuity Plan (“BCP”) on how we will respond to events that significantly disrupt our business. Since the timing and impact of disasters and disruptions is unpredictable, we will have to be flexible in responding to actual events as they occur. With that in mind, we are providing you with this information on our BCP.
The Firm has developed and installed a BCP in the case of any business disruption that causes the Firm to have limited or no communications with its employees or customers. Our plan anticipates two types of business disruptions, internal disruptions which affect only our Firm’s ability to do business (such as a fire in our building) and external disruptions that prevent the operation of securities markets or other firms (such as natural disasters or acts of war).
The Firm intends to stay in business during both internal and external disruptions due to the fact that the Firm employees can conduct Firm related business from alternate off-site physical locations and the Firm maintains an alternate location for the maintenance of its books and records. We anticipate that the Firm will recover from internal business disruptions within 24-48 hours. An outage due to an external business disruption may be longer and is beyond the control of the Firm. However, the Firm will endeavor to resume business as soon as it is possible for the Firm to establish business operations from alternate off-site physical locations.
The Firm’s BCP specifically addresses the following areas related to Firm operations:
- Data back-up and recovery (hard copy and electronic);
- All mission critical systems;
- Procedures to test and determine the Firm’s ability to do business (i.e., financial and operational assessments);
- Alternate communications between customers and the Firm;
- Alternate communications between the Firm and its employees;
- Alternate physical location of employees;
- Critical business constituent, bank, and counter-party impact;
- Regulatory reporting; and
- Communications with regulators.
If you have questions about our business continuity planning, you can contact us (212) 886-1600.