International technical services acquisition case study: Expanding business across 14 jurisdictions in one deal

Another client success story, supported by Addleshaw Goddard.

In a bold move to expand its international footprint, Apave Group, one of the largest international risk management companies embarked on a strategic mission to acquire the technical inspection and verification business of the ABS Group. They contacted the Addleshaw Goddard team to help achieve this.

This acquisition was not just a business transaction; it was a gateway to scaling their operations and penetrating new markets.

The challenge

However, the path to achieving this strategic milestone had many complexities.

The acquisition spanned 14 different jurisdictions, each with its own set of challenges ranging from regulatory approvals to intricate asset carve-outs from the broader business operations.

Adding to the complexity, Apave Group was navigating this deal while managing other significant transactions, without the guidance of a corporate finance adviser and whilst its General Counsel was on maternity leave.

The task at hand was to meticulously manage the risks and processes in a landscape where the seller was reluctant to share critical data, and the shadow of Covid restrictions persisted, particularly in Shanghai, affecting pivotal parts of the deal.

The solution

The AG team ensured they never lost sight of the Apave’s business goals throughout the processes. The team adopted a dynamic execution plan that was resilient and able to adapt to evolving risks any procedural hurdles.

The approach brought together local specialists across the jurisdictions which better addressed the structural complexities, secured the necessary approvals, and managed the myriad risks. This collaborative effort ensured the continuity of business operations, even as AG navigated through a protracted deal timetable and the intricate web of negotiations, regulatory landscapes, and unforeseen Covid-related impediments.

The impact

The strategy was a success and Apave Group doubled its international business.

This expansion was not just geographical; it extended the group’s service offerings and deepened its industry footprint, particularly in the energy sector, across the Middle East, Asia, the UK and the US.

Despite the daunting complexities and extended timelines, AG’s guidance, and oversight empowered Apave Group to not only achieve this transformational acquisition but also to concurrently manage other strategic initiatives. The result was a remarkable amplification of Apave Group’s business value.