A bi-weekly intelligence note on Transition Services Agreements for the people who actually negotiate them. PE operating partners. Portfolio operations heads. Value creation team members. Corporate divestiture office leaders. Each issue is one tactic, one benchmark, or one pattern from a recent buyer-side engagement. No filler, no marketing follow on, no curated link round up. The work and the words are written by practitioners for practitioners.
The format is fixed. Open with the one signal that matters, build the case in five short paragraphs, close with a buyer-side action. No introduction filler, no marketing footer, no curated reading list, no sponsorship.
Topics rotate across the five categories below. The cadence is bi-weekly, on alternating Tuesdays at 7 a.m. Eastern. New issues land in the inbox the night before for the morning read.
A specific cost-plus mark-up range from a recent buyer-side engagement. What the seller priced. What the redline came back at. What the next sponsor should plan to negotiate.
One leverage point inside the TSA the buyer side often misses. Exit ramp drafting, knock down obligations, force majeure scope, pass-through validation, audit rights.
A workstream level lesson from a recent 90 day program. IT, finance, HR, treasury, procurement, tax, legal, cybersecurity. What went right, what almost went wrong, the move that fixed it.
A specific SLA breach pattern and the credit recovery sequence that lands the remedy. Built from the buyer-side seat.
Standardized governance moves for PE firms running three or more active TSAs. Cadence, scorecards, escalation paths, board reporting formats that travel across the book.
The Day One Letter is written for the people who own the TSA from the buyer's side of the table. The reading level assumes the reader has been on a TSA before and is comfortable with the vocabulary. There is no introductory primer aimed at executives who have never carved out a business.
Operating partners running one or more carve-outs across the fund's portfolio. Reading for pricing benchmarks, exit milestones and value creation moves.
Portfolio operations functions standardizing TSA governance across the fund book. Reading for portfolio level cadence and standard templates.
Value creation team members mapping TSA exposure into the VCP. Reading for EBITDA tied tactics and cost reduction sequencing.
Portfolio company CFOs and CIOs operating inside a live TSA. Reading for the field notes and remedy patterns from comparable carve-outs.
Corporate divestiture office leaders running carve-outs from the seller side, reading for buyer-side patterns to anticipate at the table.
Corporate development and transactional counsel close to the deal. Reading for redline tactics, dispute patterns and pricing positions.
Bi-weekly. Free. No paid tier. Unsubscribe in one click. The first issue lands in the next two weeks.