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~25% Valuation Lift
Three-Way Bidding Process
Mid-Market PharmaCo Exit Strategy
M&AExit StrategyPharmaValuation
Context
Mid-market US capsule manufacturer. Owner wanted to retire within 3-4 years. Revenue had declined recently, and he wanted a specific price.
Challenge
Revenue was declining, the business needed repositioning before going to market, and the owner needed to understand which acquirer segments would pay the most and why.
Approach
- 01Assessed revenue decline drivers, operational pressure points, and improvement opportunities
- 02Analyzed four acquirer segments: private equity, competitors, integrators, adjacent industries
- 03Assessed each acquirer on company size, value chain fit, M&A history, production capability, sales footprint, and corporate structure
- 04Identified the client's US manufacturing license as a key differentiator for global manufacturers
- 05Built financial models for different strategic pathways aligned to priority acquirers
- 06Proposed growth initiatives across financial health, operational efficiency, product expansion, customer experience, sales, technology, HR, and governance
Results
Competitive three-way bidding process, lifting valuation by approximately 25%
Business running better during exit preparation than it had in years
Clear positioning around US market access as the core value driver
Key Insight
"Exit planning isn't just finding buyers - it's making the business more attractive before you go to market."