NIBC: The Management Buyout of a Cheese Company - How to Fund and Structure an MBO?

Daan Vodegal, Niccolo Bellavitis, Mart de Haart

Research output: Memorandum/expositionTeaching caseAcademic

Abstract

This case aims at illustrating the main steps and issues that arise during the process of a successful management buyout (MBO) from the point of view of a capital advisory team. In 2013, the Capitalisation Advisory team of NIBC was hired in order to help the management team of Dutch cheese Company Uniekaas to obtain the necessary amount of capital and to build a suitable capital structure in order for them to buy out their majority stakeholder. Despite being contacted only after that the first steps of the transaction were made, NIBC performed all the steps that their standard procedure requires when management buyout cases are treated. Therefore, this field case offers a good illustration of the rationale behind a Management Buy Out, how the value of a company is assessed and how a suitable capital structure is built.
Original languageEnglish
Number of pages15
Project No. 117-0018-1
Publication statusPublished - 2017
Externally publishedYes

Publication series

SeriesRSM Case Development Centre
Number 117-0018-1

Bibliographical note

Based on field research; 15 pages.
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Series

  • RSM Case Development Centre

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