{"id":21,"date":"2026-10-23T00:45:15","date_gmt":"2026-10-23T00:45:15","guid":{"rendered":""},"modified":"2026-10-24T02:49:02","modified_gmt":"2026-10-24T02:49:02","slug":"buy","status":"publish","type":"page","link":"https:\/\/newmancos.com\/?page_id=21","title":{"rendered":"BUY"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">CAPTURE THE VALUE THAT FALLS BETWEEN THE CRACKS<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Today&#8217;s deal teams are highly professional and highly specialized. Lawyers handle risk and deal terms. Consultants cover the market and competition. Accountants handle quality of earnings. Recruiters fill skill gaps. Technical specialists handle technical diligence and can step in as interim management. Sponsors own the investment thesis.<\/p>\n\n\n\n<div class=\"wp-block-group alignfull has-base-color has-accent-4-background-color has-text-color has-background has-link-color wp-elements-1 has-global-padding is-layout-constrained wp-block-group-is-layout-constrained\" style=\"padding-top:var(--wp--preset--spacing--40);padding-bottom:var(--wp--preset--spacing--40)\">\n<h3 class=\"wp-block-heading\">NMC looks at what falls between them, and takes a view of the whole transaction:<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Upside others missed<\/li>\n\n\n\n<li>Under-exploited assets<\/li>\n\n\n\n<li>Lateral opportunities invisible to industry specialists<\/li>\n\n\n\n<li>Cost efficiencies left on the table<\/li>\n\n\n\n<li>Better ways to structure and finance the deal<\/li>\n<\/ul>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Examples<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\">Global media and entertainment group<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Co-originated, structured and raised all the capital for a $31BN bid for assets of a conglomerate seller, in 23 days. Moved fast, attached key management, identified the upside, and structured around negative covenants and adverse tax consequences. At the time it was more equity than had been committed to any LBO in history, including RJR Nabisco. Ultimately lost to a rival bidder.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Global telecommunications network<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Assembled the telecom consortium and management team to acquire a loss-making undersea cable network at a 95% discount to its recent $4.3BN construction cost. Rebuilt the P&amp;L from contracts and detailed the $58M of cost eliminations that enabled the transaction. The asset was merged into a consortium partner, whose market value rose $2.5BN on close.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Mass-market cosmetics brand<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Built the business case and initial credit pack to buy an under performing subsidiary of a pharmaceutical group. Bought at 1x revenue ($744M) and sold six years later at more than double the revenue multiple, for a 5x+ MOIC.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Specialty materials division of a European conglomerate<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Organized a management buyout of a non-core division and arranged a fully funded, private equity-backed offer of $325M.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">[Discuss an acquisition]<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CAPTURE THE VALUE THAT FALLS BETWEEN THE CRACKS Today&#8217;s deal teams are highly professional and highly specialized. Lawyers handle risk and deal terms. Consultants cover the market and competition. Accountants handle quality of earnings. Recruiters fill skill gaps. Technical specialists handle technical diligence and can step in as interim management. Sponsors own the investment thesis. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"page-no-title","meta":{"footnotes":""},"class_list":["post-21","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/newmancos.com\/index.php?rest_route=\/wp\/v2\/pages\/21","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newmancos.com\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/newmancos.com\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/newmancos.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/newmancos.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=21"}],"version-history":[{"count":2,"href":"https:\/\/newmancos.com\/index.php?rest_route=\/wp\/v2\/pages\/21\/revisions"}],"predecessor-version":[{"id":190,"href":"https:\/\/newmancos.com\/index.php?rest_route=\/wp\/v2\/pages\/21\/revisions\/190"}],"wp:attachment":[{"href":"https:\/\/newmancos.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}