Name: Linpac Group (Disposal)
Scale: Turnover €580m, 2700 staff
Reach: Global, principally Europe
Linpac manufactures primary food packaging for all major packers and retailers across Europe, Russia and Australia. Products include trays from expanded polystyrene and rPET, PVC films and Barrier Films.
(a) Be the business contact for all refinance information and forecasts
(b) Compile and align strategic plans in preparation for business disposal
(c) Support the Group FD through all aspects of Vendor Due Diligence (VDD) to the point of disposal
(a) Data room initiated and populated for all information – financial, legal and commercial. Due diligence reports were prepared for the refinance by third parties based off the business information that was collated and interpreted. This involved a high level of interaction with financial and commercial advisors. Existing forecasts were critiqued and updated as part of the process and all supporting information required for the refinancing was provided on time to enable successful delivery of >€100m new facilities.
(b) The previously created strategic planning models were used to provide the base information for the strategic plan. This was performed throughout on the basis that it was likely to form the base for the disposal of the business. There was a high level of involvement with the regional MDs and FDs and their teams to ensure the financial results and base information accurately reflected the commercial and operational plans for each region and then division. Plans were developed and aligned across regions to ensure congruent. Particular attention was paid to balance sheet and cash forecasting to ensure a high quality base for further forecast modelling.
(c) Involved in the full disposal process with focus on providing all information for commercial and financial VDD. Further detailed interaction with external advisors as part of extensive report preparation. Set the data architecture to fulfil VDD requirements, put in place capture requirements and completed all processing to final interpreted information. Built and updated complex financial forecast model based on strategic plan data, incorporating P&L, balance sheet and cash flow, including sensitivity analysis and regional and divisional sub-splits spanning historical, current and future years for ongoing business. Supported throughout all information and interpretation requests, from advisors through to bidders.
Client comments: ‘Steve is an experienced and trusted adviser able to work at all levels across a broad agenda. He is flexible and responsible in his approach, very hard-working and committed to success. We were delighted to work again with him on this assignment.’ Mike Nicholls, Group Finance Director