Business Plan Assessment & Analysis
We provide insightful, independent evaluations of business plans and their key assumptions, leveraging our market-leading experience and sector expertise.
Establishing a robust business plan as a platform for stakeholder discussions is critical. We work with our clients and their stakeholders to test and challenge the strategy and financial projections of a business. We also provide an independent information platform to support assessment of the financing requirements of a business and the robustness of any re-financing or restructuring plan.
We complement our extensive restructuring experience with sector and operational insight from Teneo’s other business segments to deliver hands on, in depth support for our clients.
Latest Financial Advisory Insights
Teneo Insights Series UK: What is Ahead for the Consumer in 2023?
The UK narrowly avoided recession in 2022, and the most recent forecasts for 2023 suggest a shallower recession than was anticipated last November. Although inflation is forecast to fall, the UK economy still faces a number of challenges, including rising interest rates, wage pressures driven by inflation and a tight… Read More
2023 UK Economic and Consumer Outlook
The UK narrowly avoided recession in 2022, and the most recent forecasts suggest low/stagnant growth, with the UK ultimately avoiding a technical recession that appeared inevitable in November when the country was still reeling from the impact of the previous Government's "mini budget." While inflation is forecast to fall, we… Read More
UK Independent Hospitals: The Next Challenge
The UK private healthcare market has seen a rebound in 2021 and 2022 post-Covid-19, driven in part by a surge in self-pay patients. A record number of people are opting to pay for their treatment privately to avoid long wait times in the NHS and access the quality and expertise… Read MoreOur Services
Lender advisory
- Lenders and other stakeholders need to understand 1) the capacity of a business to service its debts and 2) the impact of internal and external risks to the business plan on forecast liquidity, debt service and other constraints.
- Our scope also considers the short-term liquidity position of the business and the options available to the stakeholders with a focus on preserving value in the business and ensuring an optimal outcome for our clients.
Corporate advisory
- We provide a robust, independent assessment of a business plan before it is shared with external shareholders.
- The assessment can be used as an information platform for stakeholder groups or to tailor the business plan to meet likely stakeholder requirements.
Case Studies
Our Lender Advisory and Corporate Advisory teams have advised on some of the most complex and high-profile restructurings in the market.
Virgin Atlantic Airways
The situation:
In May 2020, as passenger demand plummeted to unprecedented levels, we were appointed to advise the RCF Lenders, Senior Finance lessors (SFL) and bond holders with debt of c.£1bn.
Our involvement:
We reviewed the company’s business and contingency plans and worked closely with a group of cross holder lenders to negotiate terms with the company on behalf of the RCF and SFL.
Result:
The deal saw a £200m shareholder injection, £170m new money and a re-profiling of debt from multiple creditor groups. 100% of RCF Lenders and SFL supported the deal implemented by means of the first Restructuring Plan under the new Part 26A of the UK Companies Act and a US Chapter 15.
ED&F Man
The situation:
We were appointed as financial restructuring adviser to the senior syndicated lenders to a global commodity trading business with a turnover of $7bn and debt in excess of $2.5bn.
Our involvement:
Our scope included business plan assessment, options analysis and valuation. Our role involved a red flag review of the business and divestiture plans and we advised lenders on strategic options.
Result:
We negotiated with legal and financial advisors with respect to the terms of the restructuring, which was ultimately agreed to and implemented by a two class UK Scheme of Arrangement.
Survitec
The situation:
Recent deterioration of group performance led to a covenant breach and crystallisation of a funding requirement.
Our involvement:
We were engaged by the lenders to review management’s operational cost and working capital improvement plan, focusing on feasibility and achievability, as well as the ability of management to implement and deliver the plan.
Result:
Our review highlighted a number of concerns and recommendations for the lender group and management team, which were acknowledged with mitigating actions taken immediately.
Why Teneo
We Are Independent
Our firm is free from audit conflicts, does not manage capital, and our people hold trusted and enduring relationships across the whole spectrum of capital providers operating in the market. We are wholly objective, impartial and aligned with our clients’ interests.
Our Style of Working
We are hands-on, practical, efficient and collaborative. Our team will work hand-in-hand with you to deliver the optimal outcome, providing you with dedicated senior advisers throughout the process.
