Our client, United Group Limited, a listed Australia conglomerite was looking to acquire strategic businesses. We were tasked with managing the processes and for ensuring completion and post integration.

The specific target was identified as one of the largest providers of outsourcing facilities services to public institutions such as hospitals in Australia. After an brief review we arranged for an internal team to perform initial due diligence. During this process, whilst performing detailed interviewing of senior management of the target, we identified a significant error in revenue recognition in business that resulted in the company showing zero profits. United Group withdrew from the negotiations and 3 weeks later the auditors for the target withdrew their unqualified opinion on the business thus justifying our findings.

Our interactions and involvement here allowed a high level programme to be run without causing substantial costs to United Group.


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