We focus on the representation of sellers of businesses who have made a divestiture decision. Transactions may be complete divestitures, debt or equity recapitalizations, strategic alliances or similar transactions. Buy-side assignments may be considered under certain circumstances.

• Transaction Size. We focus on transactions having a value of at least $10 million. Although Mr. Troe and Mr. Reid each have experience in billion dollar transactions, we compete most effectively for assignments up to approximately $100 million.

• Intermediary. We are an intermediary, not a principal, in merger and acquisition transactions. We do not administer a private equity or LBO fund or buy companies for our own account.

• Client Relationships. We expect many of our client relationships to consist solely of representation in a single divestiture transaction. However, we have executed multiple transactions for clients with which we have maintained a continuing relationship.

• Breadth of Services. We perform a complete range of services for our clients in a divestiture engagement, including determining the divestiture plan and designing and implementing the marketing process, preparing a comprehensive confidential information memorandum, identifying and qualifying prospects, analyzing the financial, strategic and tax aspects of potential transactions, negotiating and implementing the transaction, and participating with legal counsel and other advisors in the documentation and closing process.

• Fees. We receive a retainer at commencement of the divestiture transaction engagement and a success fee at the closing of the transaction. Success fees are based on transaction value and frequently provide incentives for extraordinary performance.