Odyssey was appointed by a mechanical and engineering services group to raise private equity to fund a roll-up strategy of acquiring mechanical service businesses to create a significant mechanical and engineering service group with national coverage
The business plan encompassed substantial growth by acquisition, with the goal of undertaking an Initial Public Offer in a three to five year time horizon
Odyssey role
Odyssey managed the project and its role included
- Guidance on the structure and format of the business plan and investor presentations
- Approaching potential private equity investors
- Negotiating with investors the key terms and structure of the investment
- Project management of the due diligence process
- Management of the documentation process
- Liaison between the client and the ultimate private equity investor
- Driving all parties to achieve completion
- Appointment of a Chief Financial Officer
Odyssey value-add
Odyssey provided comprehensive advice and assistance, including detailed financial modelling of the business plan, which was also utilised to obtain debt funding for the client
The funding was raised utilising a combination of equity, convertible debt and subordinated debt. This structure allowed founding management to retain a significant level of equity whilst obtaining the funding to complete the initial acquisitions
Odyssey was subsequently retained by the group to assist management on further acquisitions as part of their business plan
