Management Advisory for Public to Private Transactions
Guiding management through delisting, governance, and equity transition.
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- Management Advisory in Public to Private Transactions | Liberty Corporate Finance
A public-to-private transaction is where a listed company is taken private, often by a private equity sponsor, and can unlock strategic flexibility and long-term value creation by freeing management from quarterly market pressures and enabling decisive change.
However, these deals can be complex and sensitive: valuation scrutiny, shareholder optics, and disclosure obligations add pressure, while management must carefully navigate potential conflicts of interest as they shift from representing public shareholders to partnering with a new private owner.
Public-to-private transactions present unique challenges for management - from shareholder communications to restructured equity incentives, as companies transition out of the public trading environment. Liberty acts as an independent adviser, helping executives negotiate their position as ownership shifts from public shareholders to private equity sponsors.
What We Do: Evaluate management equity stakes, long-term incentive plans, and vesting conditions during delisting.
How We Help: Support management in contract restructuring, governance design, and re-alignment of rewards post-transaction.
The Liberty Advantage in Public-to-Private Advisory
Governance clarity and alignment through transition.
- Equity Continuity: Preserve value during share conversion or cancellation.
- Governance Support: Rebuild board and incentive frameworks post-delisting.
- Stakeholder Confidence: Navigate media, investor, and internal communications.
- Independent Advocacy: Protect management’s interests throughout change.
Proven Experience Across Sectors and Structures
Examples of management advisory engagements across private equity and corporate transactions.
APEM Group – Acquisition by Applus+ Group
Liberty advised the management team on rollover equity and incentive structuring during the transaction, ensuring smooth alignment with new ownership.
Shackleton – Acquisition by Lee Equity Partners
Our advisors supported management through valuation, term sheet negotiation, and strategic governance design — balancing risk and reward for all parties.
Global Infrastructure Group – Secondary Buyout
Liberty’s advisory team helped recalibrate management incentives and leaver provisions, reducing execution risk and preserving team engagement.
