Branch-based Services
Customer & Market Due Diligence of Commercial Ambulance Service Provider: Establishing Local Market Competitive and Labor Dynamics
Conducted 4-week customer & market due diligence to establish local market and competitive dynamics in each of the target’s 23 local markets, including: a detailed picture of the competitive landscape; age demographics, insurance coverage, and EMT employment and wage trends; a fact-based assessment of hospitals’ and 911 systems’ use of commercial ambulance service providers. Gotham conducted interviews with hospital and 911 systems, an online survey of hospital decision makers, and an online survey of EMTs/paramedics, as well as established growth opportunities from both market share gains and acquisitions. Armed with a solid fact base, our client moved forward with confidence to close the transaction.
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Customer & Market And Operational Due Diligence Of Leading Propane Distributor: Determining Branch-level Margin Expansion Opportunities And Market Position
Conducted 2-week customer & market and operational due diligence to: validate capture of pricing and operating efficiencies at acquired companies; establish local market dynamics and target’s competitive positioning; and assess regulatory and substitution threat. Gotham: surveyed ~750 propane consumers in target’s service areas; identified/profiled key competitors and conducted 32 competitor interviews in target’s local markets; analyzed zip-code-level propane supply, consumption, pricing, and heating degree day trends; determined pricing optimization and segmentation opportunity; assessed substitution threat from natural gas, electricity, and heat pumps; and analyzed pricing, delivery, and backoffiice expenses at 25+ acquisitions. Comfortable with the target’s opportunity to acquire family-owned local propane distributors and capture pricing/operations improvements, our client was able to move forward with an aggressive but well-informed bid.
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Rental Operations Improvements for Heavy Equipment Rental Company: Diagnosing Performance Deficiencies at Data-rich But Information-poor Branch-based Underperforming Business to Identify EBITDA Improvement Opportunities/Plan for Their Capture
Identified $6.4MM in quick-win EBITDA improvement opportunity in rental, parts, and services businesses by analyzing the company’s revenue drivers, cost structure, and equipment utilization. Working with management, developed a detailed 6-month implementation plan to enable rapid capture of operational improvement opportunities and to establish long-term strategic initiatives to drive top- and bottom-line growth. Management is successfully implementing value creation plan and, within 3 months, has already captured $3MM in EBITDA improvements (vs. same quarter in previous year).
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Customer & Market Due Diligence Of Water Well Services Provider: Establishing Market Dynamics And Growth Outlook
Conducted a 3-week customer & market due diligence to establish the competitive differentiation and validate the growth opportunities of the target. To this end, Gotham: created a robust market sizing model establishing the current inventory of wells as well as a drilling forecast segmented by end-market; conducted interviews with municipal and C&I water well customers and government agencies; established the competitive landscape and market share of key players; and uncovered attractive geographic, service line, and end-market expansion opportunities. Gotham’s assessment armed our client with a solid understanding of market dynamics/growth outlook and the target’s reputation/competitive positioning, allowing our client to pursue the transaction with confidence.
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Customer & Market Due Diligence Of Technical Services Provider: Establishing Competitive Positioning And Demand Outlook
Conducted a 3-week customer & market due diligence to establish the refinery market outlook, the target’s competitive positioning, and the target's growth opportunities. To this end, Gotham: conducted 38 anonymous interviews with refineries, petrochemical companies, contractors/fabricators, and other industry participants; analyzed refined product demand, refinery production, capacity utilization, plant retirements and consolidation, COVID-related shutdowns, refined product transportation network, and the impact of environmental regulations; profiled the target’s customer/project mix and project profitability; validated the target’s near-term project pipeline; researched heat-treating technical specialization and ASME Code requirements; established the competitive landscape; developed bottom-up heat-treating market sizing model; and determined end-market (LNG Export, Chemical, and Natural Gas Power Plant), geographic, and service line expansion opportunities. Gotham's detailed, fact-based approach provided our client a clear understanding of the refinery market outlook, confirmed the target’s competitive positioning as the leading player in the heat-treating services market, and helped our client develop confidence in the near-term revenue outlook.
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Customer & Market Due Diligence Of Industrial Wastewater Treatment Service Provider: Establishing Pricing Structure, Margin Risk, And Growth Outlook
Conducted a 2-week customer & market due diligence ahead of the check-in bid to establish the pricing structure, oil price exposure, recession risk, and growth outlook of a leading industrial wastewater treatment service provider. To this end, Gotham: built an oil price sensitivity model; built a recession impact model; conducted 50+ interviews with customers and competitors; and leveraged available industry data and secondary research. Gotham’s fact-based analysis of the market, the target’s pricing structure, exposure to oil price fluctuation, recession risks, and growth outlook provided our client with the facts to put this opportunity into perspective and price the deal accordingly ahead of its check-in bid.
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