Reputable dealer in passenger and commercial vehicles. Family business with strong equity base. No succession within the family. Self-built dealerships profitable. Acquired dealerships generate moderate returns. Drop in demand during the credit crisis leads to increased losses and rapidly deteriorating liquidity. Shareholders decide to split the group and to divest unprofitable dealerships.
Restructuring advisor responsible for spinning off loss-making dealerships, evaluating profitable business units and determining options for maximum preservation of value and employment. Approach strategic and financial acquisition parties. Execute sales process.
During negotiations for sale of loss-making business areas, interest is also expressed in profitable entities. The shareholders (family) expand restructuring and decide to sell holding company along with dealerships to strategic party based on maximum share value and preservation of employment.