Areas of operations:
BM&T were engaged by Kier, a leading UK publicly quoted construction company in the pre-acquisition due diligence of Tilbury Douglas, an underperforming subsidiary of Interserve. BM&T evaluated the balance sheet and P/L issues of the target that had suffered a significant loss of accounting records. The BM&T evaluation and report highlighted too many unquantifiable risks, and significant unexplained balances in the accounting records for Kier to proceed and the proposed acquisition was aborted.
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Notes, insights and reflections from Matthew, one of our directors and turnaround experts, as he works with companies during Lockdown.