Carve-Out Transactions - An Effective Instrument For Value Creation

Introduction

Between October 2022 and April 2023, AlixPartners and Norton Rose Fulbright surveyed business leaders from sectors including automotive, mechanical engineering, TMT, power generation, chemicals, retail and consumer goods. The majority of those we interviewed (69%) were individuals in executive positions, ranging from management roles and M&A, to strategy and corporate law. Of the corporations surveyed, 43% were active in up to 20 countries, with more than a fifth (22%) operating in more than 60 nations. The largest share of those participating was based in Germany (82%), with the remainder basing their operations in Switzerland and Austria.

To ensure our dataset provided the most accurate findings, we focused on individuals with experience in carve-out transactions. Almost half (46%) had been involved in up to three transactions, a further 31% in between four to nine transactions and 19% involved in at least ten transactions. Around 14% of