16 September 2021
RSM’s corporate finance team has successfully advised Geoffrey Osborne Limited (‘Osborne’) on the carve-out and sale of its infrastructure division, Osborne Infrastructure Limited (‘OIL’) to investment firm, Sullivan Street Partners.
Founded in 1966, Surrey-headquartered Osborne is a family-owned construction and development group. Having made the strategic decision to focus on its core activities, the board appointed RSM to advise on the carve-out and divestment.
RSM’s specialist divestiture advisory team provided M&A services including the forecast model, supporting the preparation of the carve-out financials (including advice on complex accounting areas and the preparation of a financial factbook report), and supporting the preparation and negotiation of the Transitional Services Agreement. Once ready for sale, RSM’s M&A team identified suitable purchasers, negotiated all aspects of the deal, and project-managed to completion. Following a successful marketing process, Sullivan Street was selected as the partner for Osborne Infrastructure Limited and its management team.
Transaction team: M&A: Kirsty Sandwell, Natalie Ord, Ollie Currie, James Underhill, Jack Bailey; Due Diligence: John Price, Dan Watt; Financial Modelling: Alistair Hynd, Clare Cowie; Financial Reporting: Stella Cooper; Irina Cheburdanidze
‘This was a technically challenging disposal and finding the correct corporate finance team that understood that was essential. However, for us, this was not just about simply finding a buyer for our Infrastructure business as we cared deeply for our people who would be ultimately transferring into new ownership. Our goal was to find a buyer who shared our passion for doing business in the right way and provided continuity in the values and behaviours familiar to our people and their customers. We thank RSM for helping us achieve all these goals.’
Andy Steele, Group CEO of Osborne