A successful business sale starts with the right preparation
A compelling sale process starts long before potential buyers enter the data room. Companies looking to sell a business unit need to answer key questions early—the questions that will ultimately shape buyer confidence and deal momentum:
- Is the equity story compelling?
- Are the financials and structures robust?
- Can the business unit be separated operationally, and is it ready for potential buyers’ requirements?
- How should the sale process be structured?
This is where Grant Thornton comes in. From the outset, we bring together M&A strategy, transaction advisory and hands-on carve-out execution. We turn multiple parallel workstreams into a clearly managed process—from strategic preparation and transaction execution through to the successful separation of the business unit.
The answer: the Grant Thornton Carve-out Studio
Greater deal certainty
We identify risks and critical buyer questions before the data room opens.
Greater value throughout the sale process
A robust equity story, clear financials and a workable separation design build potential buyers’ confidence.
Faster execution
An integrated team reduces hand-offs and speeds up decision-making.
Reduced transaction risk
We combine our experience to help reduce your transaction risk.
Our approach: one process, every key discipline
We establish a clear foundation for the sale process and identify what makes the business unit attractive to potential buyers.
- Defining sale objectives and strategic parameters
- Developing a compelling equity story
- Identifying relevant buyer groups
- Aligning value, timing and transaction objectives
- Developing the project plan and decision-making framework
We assess early on whether the business unit is financially, operationally and organisationally ready for sale—and identify any actions needed before going to market.
- Assessing sale and separation readiness
- Defining the carve-out perimeter
- Providing transparency on operational and financial dependencies
- Developing the future stand-alone model
- Identifying and prioritising critical risks
- Preparing a robust separation roadmap
We establish a reliable information base that clearly explains the business model and addresses key buyer questions early.
- Preparing robust carve-out financials
- Preparing a financial fact book
- Analysing earnings trends, cash flows and key value drivers
- Preparing and conducting vendor due diligence
- Bringing together financial, tax, legal, operational and technology perspectives
We ensure information is organised and readily available, risks are identified early, and potential buyers’ requests can be answered efficiently.
- Planning and structuring the data room
- Reviewing documents for completeness and consistency
- Identifying potential information gaps
- Coordinating the Q&A process
- Managing responsibilities and approvals
- Analysing key questions and recurring themes
We guide the sale process with a clear focus on the issues that matter and keep all parties aligned around a shared objective.
- Managing the sell-side process
- Coordinating the teams and advisers involved
- Preparing management presentations
- Supporting buyer meetings and negotiations
- Assessing new information and available options
- Providing support through signing and closing
We turn the agreements reached during the sale process into an actionable separation plan and prepare the business for a stable start as an independent entity.
- Establishing and managing the carve-out office
- Planning and implementing the separation
- Defining and negotiating transition service agreements (TSAs)
- Preparing for operational Day 1 readiness
- Managing interfaces, dependencies and stranded costs
- Supporting the stand-alone setup and TSA exit
Our awards
What companies should know about a sell-side carve-out
Once you have made a portfolio decision, we work with you to develop a clear implementation plan. As your partner, we take responsibility and share the risks, helping provide the certainty needed to plan and execute the carve-out. We work alongside you to manage the process and stay focused on the same goal: your success.
Ideally, we start working together as soon as you begin considering a potential exit or restructuring. At this stage, the equity story, carve-out perimeter, financials and operational dependencies can still be actively shaped, and potential buyer questions can be anticipated early.
Traditional M&A advisory often focuses on executing the transaction. The Grant Thornton Carve-out Studio combines a deal perspective with a focus on whether the separation can be implemented operationally. This means the sale strategy, buyer requirements and future operating model are considered together from the outset, with risk shared between you and us.
Depending on the transaction, we bring together expertise from Deal Advisory, Audit, Finance, Tax, Legal, Operations, IT and other relevant areas. The teams work to a shared project plan with clearly aligned responsibilities.
We assess early on whether the financials, structures and proposed separation model are robust. We identify critical dependencies, information gaps and potential buyer questions, then turn them into a specific action plan. This allows key issues to be addressed before they affect the sale process.
We use artificial intelligence where it delivers specific, measurable value—not as an end in itself. A well-structured data room and consistent information base are essential to an efficient sale process. Data-driven analysis helps organise the review of documents and requests, identify critical issues early and maintain an overview of the process.
Yes. Our support covers the process from transaction preparation and execution through to operational separation. This includes Day 1 readiness, the carve-out office, transition service agreements, establishing stand-alone structures and preparing for TSA exit.
Yes. We combine our knowledge of Germany’s mid-market with the international reach of the Grant Thornton network. This enables us to bring together local seller-side requirements and the expectations of an international buyer group.