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Insurance Firm Divestiture Strategy Development 2017-11-16T09:21:54+00:00

Project Description

Challenge

A large global insurance company decided to exit a non-core automobile title administration business, via divestiture

  • Client (Seller) sold business operations and assets to Purchaser, excluding support services including HR, Finance, and IT, requiring transition plans for each
  • All employees were included as part of the deal, leaving no one behind to handle transition planning and execution on behalf of Seller
  • Some clients were shared between this divested entity and surviving core business, requiring carful attention to transition

Solution

MCG worked in partnership to deliver the following solution to divest of this this business:

  • Participated in pre-close planning, including development of schedule of services as part of the overall Transition Services Agreement (TSA)
  • Led process to assess software licensing conditions and obtain consent from vendors to transfer rights to Purchaser or terminate agreements as a critical pre-condition for Close
  • Served as Transition Interface with Purchaser on behalf of Seller, overseeing the TSA services and invoicing throughout a eighteen month transition period

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Business Value

  • Minimized distractions for Seller who no longer had expertise in this line of business
  • Ensured TSA compliance, by both parties, ensuring a smooth transition within contractually agreed timeframe
  • Identified risks and mitigation strategies to avoid business disruption for either party and clients

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