Moregate Consulting

Moregate led the entire deal process:

• Deal initiation
• MBO management
• Fund raising and Financing
• Financial and commercial due diligence
• Negotiation
• Completion process, including the legal process

WTG was sold off by Cable & Wireless in a drive to focus on its core telecoms heritage.

A key success factor for the MBO was Moregate founder Volker Schulze's relationship with Cable & Wireless's CEO Jim Marsh, combined with his ability to form credible relationships with all stakeholders, including Jeremy Jensen, the CFO.

Moregate Consulting managed the entire deal cycle of a Management Buy-Out (MBO). This included negotiating the complex bid process run as an auction, due diligence, fund raising, managing the legal process, post deal transition and subsequent business turnaround.

We transitioned some 100 staff across compliant with TUPE regulations ensuring certainty for the staff and operations.

As this deal was an asset deal, we set up a new legal entity capable of running the assets in an independent fashion generating positive cash flows critical to become a "going concern" and satisfy WTG's clients of its credibility as a long term business partner.

Critically, we negotiated Cable & Wireless's commitment to the new entity through a Preferred Supplier Agreement, as well as financial commitment through a short term vendor loan.