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Meridian Success Story: 3

General Time Corporation

Private Equity Investors Identify a Strategic Buyer for This $100 Million Housewares Industry Market Share Leader

  • Objective of General Time Management and Private Equity Investors: Accelerate growth of this lagging industry leader by evaluating expansion into related industries
  • MAI Process and Recommendations
    1. MAI Leads Strategic Business Review and Development of 3 Year Growth Plan: MAI was commissioned to lead the management team and board (which included the investor group) through a strategic business review to identify optimal growth opportunities for this business and establish 3 Year growth objectives, along with investments required to realize each
    2. The business review, structured by MAI, along with custom external research designed and implemented by MAI, led Meridian to these recommendations:
      1. Existing Industry Segment Still Offers Substantial Growth Opportunity: The company should accelerate development of new opportunities in its existing industry segment by focusing initially on new clock design and function trends
      2. New Business Model is Required: That the company move away from its existing Operations / Sales orientation and toward a new Marketing / New Product platform
      3. Expansion to Related Industries Should Be a Longer Term Strategy: Once the above Initiatives are successfully executed in its existing clock industry segment, the company would be in a stronger financial and market position and would have a much greater chance of successful expansion into related industries
  • Results:
    1. Strategic Buyer Identified and Current Management Steps Down: Private equity investors identified a strategic industry buyer with appropriate management talent and resources to pursue the above strategy, and executed the sale of this company

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