Strategies for success in European auction processes

Thursday, September 10 1:00 PM EDT to 2:00 PM EDT

Virtual Conference

A webinar for private equity investors

Many commentators predicted that the onset of COVID-19 would result in more buyer-friendly conditions in the European private equity market. Experience suggests that the reverse has transpired: the number of high-quality assets available for sale has decreased and, with no shortage of buyers with significant financial firepower targeting them, sellers of desirable assets have been able to run extremely aggressive auction processes. With multiple bidders willing to offer a significant premium on assets, bidders are increasingly at risk of missing out on an asset, by mis-positioning the non-financial aspects of their bid.

This discussion will help you succeed in competitive auction processes in Europe by focussing on the key strategic issues that North American bidders should consider, in particular, taking account of the differences in market practice on both sides of the Atlantic.

Issues which will be covered include:

Assessment of pricing mechanisms
Ensuring certainty of funds
A roadmap for satisfaction of mandatory conditions
Planning a targeted diligence process
Management rollover and considerations for incentivisation in the local market
Outgoing sponsor co-investment
The mindset and approach of corporates in auction processes

This webinar will take the format of a panel discussion with plenty of opportunity to have your questions answered.

Panelists

Our panellists have all been involved in European auction processes on behalf of US private equity investors over the past several months, with the most recent just concluded.