Another successful transaction managed by bankers from PLG Advisory Group involved representing the president of a multinational financial services company. The company provided payroll, workers compensation, unemployment insurance, and various software solutions to its customers. Although the company had been financially successful, it faced significant obstacles due to dysfunctional senior management and potential labor unrest in the industry it served.

The company president, who owned a small minority interest, believed that the company should be recapitalized or sold. However, the majority of shareholders and other officers and directors resisted him.

Through our research, we determined that the president's personal clients accounted for the vast majority of the company's revenues. Applying this knowledge, we leveraged his position to force out the majority of owners, officers and directors, giving our client control over the enterprise.

We then undertook an extensive due diligence process, during which time we consulted extensively with the company's attorneys and accountants in the three countries that the business operated in. In addition, we interviewed, retained and project managed experts in several specialties who consulted on specific transactional issues.

The result was a due diligence book that exceeded 100 pages and allowed prospective buyers to gain a comprehensive understanding of our client's complex business. We researched and identified potential strategic buyers and financial buyers, formulated a plan to conduct an open auction, and eventually entered into semi-exclusive negotiations with three buyers.

After assisting our client in selecting one of the buyers, we closed an eight-figure transaction while retaining for our client a substantial equity interest in the company. In addition, we negotiated a significant executive compensation plan for our client.

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