Remy International Limited (C)

Organisational Behaviour, Entrepreneurship

1995

Louis Elson was outlining the tasks remaining to be completed in anticipation of an auction of Remy International Group Limited, in which Elson's firm, E.M Warburg Pincus was one of the major share holders . There were still significant details to work out, especially with one other major shareholder, J Pender & Sons, before the auction could actually begin: and he did not plan to involve management in the process until he had had further discussions with Pender. If these discussions went well, the auction process could begin as early as September 1994, only two months away. Elson's phone rang. "Hello." "Louis, this is Tim Denton (Managing Director of Remy International). I have some news for you. I have decided to leave Remy and take a position as a main board Director and Head of New Business Ventures for one of the largest media companies in the world. "Elson was stunned. Only 10 days earlier he had met with Denton to discuss the future of the group, and there was no indication that Denton was even thinking of leaving. "I know my contract calls for six months' notice, but I'd like to start with them in 45 days, and I wanted to discuss with you how we can make the transition quickly and smoothly....."

Entrepreneurship, Opportunity Assessment, Financing, Exit, Valuation, Venture Capital

Publishing

1994

CS-94-053-06

UK

ESRC (ROPA)

Entrepreneurship

No