Infrastructure Fund Success Story

Infrastructure Fund

Acquisition Model Audit

Giving confidence to the lenders to a leading Infrastructure Fund regarding the forecasts of an acquisition target.

Independent validation

We provided commentary on inherent assumptions in the model to ensure a full understanding of the finer details.

Supporting negotiations

A variety of changes during contract negotiations required model updates to be examined during the audit process.

Deadlines met

Tight timescales were met at various stages by our team’s flexibility and dedication.

Challenge

Our client, an infrastructure fund with over €3bn under management, was negotiating the acquisition a group comprising a number of social infrastructure businesses in the Nordic region.

The model logic provided analysis for the equity holders and lenders to the deal, which was to be underwritten by an arranging bank and would later be syndicated. The deal was being negotiated in parallel to the model audit being performed.

Infrastructure Fund Success Story - Challenge
Infrastructure Fund Success Story - Solution
Solution

We provided assurance to the fund and lenders, and provided documentation of inherent assumptions that applied to each party. Late changes in the deal were accommodated by further iterations of the compare and report cycle, including an additional tranche of debt being added. Good communication and project management ensured we met all deadlines at each stage of the process.

Results

The project focused on three quite different business units, and our pilot project delivered a template modelling infrastructure based on best practice and our extensive experience in developing FP&A models in complex organisational structures. Each of the three models was then tailored for the business unit specific drivers and underlying feeder systems. Our team also developed and delivered tailored training programs to assist in user testing and adoption of the models.

Infrastructure Fund Success Story - Results
Related Success Stories
We’re trusted modelling advisors across a wide range of business industries, including 10 FTSE 100 companies and Fund Managers with over £1.75 Trillion of assets under management.

Stagecoach Rail

Providing a modelling best practice confirmation report for the rail company’s bid for the Thameslink, Southern and Great Northern franchise.

Read More »

Severn Trent Water

Reviewing the British water services company’s pricing models after the acquisition of Dee Valley Water, before reporting to the regulator OFWAT.

Read More »
James Davis CFO

Listen to – The Forward Thinking CFO Podcast

Episode 4 with james davis