Merger synergies assessment in the Leasing industry
Context
ALD Automotive and Leaseplan, leaders of the leasing industry in Europe, were negotiating a potential tie-in, which eventually took place via the acquisition of Leaseplan by ALD for a total amount of c. €5bn.
Accuracy was the independent advisor to both parties in charge of assessing synergies.
Key Takeaway
Creating the conditions to strike a satisfactory deal for all parties in the context of a potential massive international acquisition can be greatly facilitated by an independent and impartial view.
This independent stance is especially valuable in the assessment of synergies, which are most of the time the main strategic rational behind the deal.
Accuracy Role
Over several months, we played an intermediary role between the two companies, guaranteeing a high level of confidentiality.
We used our market knowledge and our quantitative skills to assess client portfolio synergies as well as cost synergies, in relation with people, procurement, real estate, IT systems, etc.
