We believe that adopting a comprehensive strategy at the outset is paramount to maximising shareholder value through a transaction process. Our involvement therefore commences at the entry phase, where full international pensions due diligence is undertaken once we have ascertained the extent of any pension promises of a sponsor. We then lead our client through any necessary negotiations with either the pension scheme trustees, the vendor and / or the Pensions Regulator advising on the implications and merits of clearance.
The focus during the next phase is on the identification and implementation of tailored post-acquisition solutions. A variety of projects may be undertaken, frequently with the local management team of the business, to manage both the risks and costs associated with the provision of defined benefit pension schemes. Since the advent of the Scheme Specific Funding Requirement an increasing amount of our work is in relation to valuation negotiations between trustees and companies and we have had considerable success in achieving lower contribution requirements for companies.
Finally, as a business is prepared for sale, we once again undertake due diligence and assist in the required negotiations to ensure the best possible vendor pricing agreement.