PE Strategies for Unlocking Value through Non-Core Asset Sales
Tuesday, May 23, 2017 – 1:00 PM ET
Private equity firms looking to improve company performance have learned that acquisitions aren’t the only avenues to growth. In fact, divesting assets - particularly non-core assets - can often achieve the same goal. Non-core assets may not provide companies with a competitive advantage, and can also draw on resources that can be better utilized elsewhere. Increasingly, private equity firms are helping strategics shed assets that aren’t crucial to the business, structuring deals that enable them to focus on core competency in order to maximize returns.
Join The Deal and Grant Thornton on May 23rd, as we examine the challenges and rewards companies face in asset divestitures. We’ll look at how non-core assets are identified, the types of non-core asset divestiture deals PE firms are structuring, and how those asset sales are helping companies refocus their strategies and performance.
Rhonda Schaffler is Special Correspondent at The Deal. Schaffler has worked for over two decades as a broadcast financial journalist for global organizations including Reuters, CNN, Dow Jones and Bloomberg. She was a winner of the 2011 Society of American Business Editors and Writers Award for Excellence in Financial Journalism, Multimedia. Rhonda graduated with honors from Penn State University with a B.A. in Journalism and Political Science.
Tom Libeg is a Managing Director with Grant Thornton’s Transaction Services and is responsible for leading buy- and sell-side transaction services at corporate and private equity clients. Tom has extensive experience in all aspects of due diligence, transaction structuring, deal negotiation and post transaction planning and execution. His specific advisory experience includes analysis of quality of earnings, working capital requirements and positions, quality of net assets and commercial due diligence.
Before coming to Grant Thornton, Tom spent four years at PolyOne Corporation, where he served as the Director of M&A. His primary responsibilities included target identification and outreach, valuation, strategic and synergy analysis, contract negotiation and overall coordination of corporate development activities globally. Prior to that, Tom was in the transaction advisory services practice at Ernst & Young with experience advising on a wide range of transactions. He spent several years dedicated to divestiture projects, both on sell-side diligence and in a carve-out financial statement support capacity.
Tom has conducted transactions across North America, Europe, Asia and South America. He has experience serving clients in the business services, chemicals, plastics, packaging, distribution, manufacturing and consumer products industries.
David Acharya is a Partner at AGI Partners LLC, an alternative investment management firm that deploys capital in private equity investments. Mr. Acharya is also a Board Member of Impact XM, Inc., a leading provider of experiential marketing solutions for global clients and a portfolio company of AGI Partners LLC. Previously, he was an investment professional with Apprise Media, a leading media information services private equity firm where he worked with the founder of Primedia in investing $200 million of capital. Prior to his private equity investing career, he spent 10 years as an investment banker in the highly ranked leveraged finance groups of JP Morgan Chase and Toronto Dominion Securities where he advised, structured and raised over $18 billion of capital for leading financial sponsors, media, telecom, consumer product and other various companies across the globe. He also advised clients on debt tender/consent transactions that affected over $4 billion in debt. Mr. Acharya is a Board Member of the ACG NY Chapter, the premier association in New York City for middle market deal making professionals. Mr. Acharya holds B.S. and M.B.A. degrees, both conferred with honors, from St. John’s University.
Robert B. Nolan, Jr
Mr. Nolan is the managing partner of Halyard Capital and chairs the Investment Committee for the two respective funds totaling more than $600 million. He represents Halyard on the Boards of EducationDynamics, Practice Insight, Digital Fortress and Jun Group and previously sat on the Boards of Engauge Marketing, LLC, Women’s Marketing, Inc., American Consolidated Media, Inflow, North Dakota Holdings, and TRANZACT. From 2001 until January 2006, he was the CEO of the BMO Private Equity Group, overseeing an investment portfolio with $800 million in capital. Previously, he was Managing Director and Head of Media & Telecommunications Investment Banking at CIBC World Markets. Prior to CIBC, Mr. Nolan was Telecommunications Group Head at UBS Securities. He also worked for nine years at Goldman, Sachs & Co. in the Telecommunications, Media & Technology Group. Mr. Nolan is a member of the New York and Washington, D.C. Bar Associations. Mr. Nolan received a J.D. from the Fordham University School of Law and a B.S / B.A. from Georgetown University. Mr. Nolan is a member of the McDonough School of Business Board of Advisors.