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Background

Working closely with one of the biggest private equity firms in the UK, our client urgently needed to carry out due diligence on a prospective company for a potential
acquisition.

They wanted to conduct over 100 interviews with customers of the company and their respective competitors to get a better understanding of the company’s products and market positioning. The interviews would consist of a mix of qualitative and quantitative questions, investigating and ascertaining net promoter scores, KPC’s, and functionalities whilst gathering market insights.

Freshminds would run this process from beginning to end, taking ownership of the deliverable. This would include the interviews and proceding analysis and manipulation of the data from the interviews.

 Key Challenges

Freshminds had an initial meeting with the client to get a deeper understanding of the project and the key drivers, Freshminds first had to identify customers of the company and its competitors as well as build a discussion guide reflective of the information required with which to conduct the interviews.

Freshminds sourced people to interview using their own unique network and a mixture of primary research techniques, honed and developed from previous projects of a similar style.

It was also of the utmost importance that given the time-sensitivity of the project the interviews were completed on time and gave actionable insights into areas of interest.

What Freshminds did

Freshminds built a bespoke team of in-house researchers with appropriate background and skillsets specific to the project. This team was managed and directed by the managed projects team.

Having built the discussion guide and source the contacts Freshminds then called and interviewed the relevant individuals, collecting the qualitative and quantitative information.

Freshminds organised regular feedback sessions with the client, keeping them up to date on the number of interviews completed and interesting insights. This also gave the client the opportunity to adjust the scope of the project in light of the information from the interviews.

Results

Freshminds conducted over 150 interviews with customers of the company of interest and its competitors.

Using the information from the interviews, Freshminds analysed the data using different data manipulation techniques, providing graphical and contextual insights into the distinct clustering of information using a dashboard.

The results from this project were used to advise a deal valued at £50M

Moving forward

On from this particular project, Freshminds has now supported this client on multiple due diligence projects across different sectors and industries.

Freshminds now works in tandem with their internal structures when investigating companies for acquisition. Starting from a scoping phase which requires 10-15 expert interviews to get a general understanding of the market, scaling to over one hundred phone interviews in order to get a highly detailed understanding of their business propositions and opportunities within the market.