Chapter 7

Making it Pay

Making it Pay

Covered in this Module

The Management

Exit Methods

  • Secondary Buyouts
  • Trade Sales
  • Initial Public Offerings (IPOs)
  • Recapitalisations

Ten Golden Rules for Buyout Teams

This Module covers the final phase of the Buyout cycle, the value realisation or exit stage. We first explore the management perspective, looking at key issues for the team in terms of their relationship with the investor, their own objectives and their alignment with the investor’s objectives. The section also raises key issues in connection with timing the exit and developing an exit strategy. This is followed by an overview of the four primary routes to an exit, focusing on the management and investor considerations for each. We conclude the Module – and the book – with Ten Golden Rules for Buyout Teams.