Tanner Companies was the second largest direct seller of high-end apparel to affluent women in the U.S.
Brookwood advised the management of Tanner Companies on sale of the Company back to Tanner family, the founding family of the Company.
Engagement Process and Outcomes
Parties Involved – The Tanner family expressed their desire to reclaim control of the 70+ year old company. Brookwood was selected in a competitive process to advise Management on the sale of their ownership stake back to the family.
The Solution – Brookwood’s engagement team quickly realized that the two parties’ history, competing perspectives, and differing personalities and styles would create a challenging negotiating environment. Brookwood developed a strategy to obtain optimal terms and value for Management’s large, illiquid controlling interest. Brookwood also assisted Management in evaluating and structuring a buy-side bid as a fallback position.
Successful Outcome – Brookwood organized a stepped negotiation strategy to facilitate a more productive process and to increase the likelihood of success. Brookwood constructively negotiated a comprehensive package that delivered value to four different individuals in the most tax-advantaged fashion and structured a creative win-win financing solution in a difficult credit environment.