Travel · Private Equity · 2019
Bespoke China Business Travel — Private Equity
8-city, 14-day due diligence trip; 2 portfolio companies subsequently acquired.
Confidential — Asian PE Fund
Key Metrics
5
Acquisition targets evaluated
8
Cities covered in 14 days
2
Portfolio companies subsequently acquired
100%
Due diligence completed on schedule
Challenge
An Asian private equity fund's investment committee needed immersive, on-the-ground due diligence across 8 Chinese cities to evaluate 5 potential portfolio acquisitions. The fund had no China office, no Mandarin capability, and needed complete logistical and analytical support for a 4-person deal team.
Solution
We designed a 14-day, 8-city travel programme structured around the due diligence requirements of each acquisition target. We arranged facility tours, management interviews (in Mandarin), customer reference calls, and local market assessments. We provided continuous Mandarin interpretation and commercial context throughout, and delivered a post-visit assessment memorandum for each target.
Results
The deal team completed due diligence on all 5 targets within the 14-day programme. The fund subsequently acquired 2 of the 5 companies evaluated. Both acquisitions have performed above fund return targets in the years since closing.
Work Breakdown
Programme Design
14-day, 8-city itinerary structured around due diligence requirements for each target.
Management Interviews
Facilitated and interpreted 18 management interviews across 5 acquisition targets.
Market Assessments
On-the-ground local market assessments conducted in each city visited.
Post-Visit Memoranda
Commercial assessment memo produced for each of the 5 targets within 48 hours of visit.
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