YSC (2013)

Deal summary

Catalyst Corporate Finance has advised on the £38 million management buy-out (MBO) of YSC funded by Livingbridge.

YSC is a global firm of business psychologists, with 120 consultants working from 15 offices around the world. YSC helps the world’s leading organisations achieve commercial success through releasing the power of their people. Founded in London in 1990, the business opened its first overseas office in New York in 2000 and has since expanded across the globe with offices from Mumbai to Rio de Janeiro.

YSC works closely with over half of the FTSE 100 as well as many FTSE 250 and Fortune 500 clients such as BP, HSBC, Diageo and GlaxoSmithKline. YSC drives culture change across these organisations, bringing its expertise in psychology to achieve fundamental shifts in people’s values and behaviours to transform an organisation’s effectiveness.

What difference did we make?

Catalyst advised Livingbridge on entry pricing and negotiated a complex deal structure to achieve the objectives of multiple shareholders. Catalyst sat alongside the Livingbridge team supporting on all aspects of the deal, including the complex tax structuring needed to incentivise employee shareholders across a global office network, and assisted the management team to produce a detailed business plan and financial model for the private equity investment process.

We project managed the whole transaction from start to finish including supporting the business in its preparation for due diligence, provided debt advice to Newco, negotiating a favourable banking package, and prepared an exit strategy review which supported Livingbridge's investment assumptions.

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What our client said
"This was a highly complex deal to structure and Catalyst’s experience of international human capital businesses and dealing with the complex issues that these present were fundamental to getting the deal done." Liz Jones, Partner