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Powerhouse – the background History Receivership Challenges Performance since acquisition Shareholder attitude
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Copyright © May 3, 2023 BDO Stoy Hayward LLP. All rights reserved.
Accelerated Mergers and Acquisitions – A Powerful case
study to the TMAWednesday 24 September 2008
Operational Performance Improvement
Refinancing
Accelerated M&A
Under performing DistressedBUSINESS
Equity
DebtVALUE
Business Restructuring
Value Preservation
Powerhouse – the background
• History
• Receivership
• Challenges
• Performance since acquisition
• Shareholder attitude
Powerhouse – Operational Performance Improvement
Stores Supply Chain
Internet
Powerhouse -Accelerated M&A process
Managementrole
Keydocuments
BDO CF process
Completion
Structuring and
negotiationManagement
meetings
Info Memo and buyers
researchPurchaser
DDInitial
marketing
BDO BR process
Week 12Week 3
Purchaser DD
Indicativeoffers
Revised offer SPA
Heads and quasi-
exclusivityNDAs
Buyers meetings
Information provision
Week 4 Week 6 Week 8
Contingency planning
Wind down implementation
Two weeks Board advisory and cashflow management
Further two weeks
Board advice
Choice to continue
sale process or liquidate
Powerhouse Goods
Powerhouse properties – Superstores
Westmorland Retail Park, Cramlington
Bath Road, Slough
Queens Retail Park, Stafford
Middlebrook Retail Park, BoltonJubilee Park, Weymouth
Robin Retail Park, Wigan
Powerhouse properties – High Street
Bishops Stortford Brentwood Kings Heath, Birmingham
Ludlow
St Neot
Evesham
Contact Details
• Martha ThompsonPartner0118 925 [email protected]
• Andy SmithDirector0118 925 [email protected]
• Tim TownleySenior Manager0118 925 [email protected]
• Alison CramerSenior Manager0118 925 [email protected]