VE Global Limited was a provider of digital technology, advertising and consultancy services which operated in the digital commerce market. Having sought investment which did not regrettably result in funds being advanced and following the issue of a notice from HMRC, which required a substantial bond payment by the end of March, the Board formally engaged Opus Restructuring LLP, initially in an advisory capacity. It became apparent that the Company did not have the cash reserves to continue to meet its obligations. Therefore, in March 2022, on the advice of Opus, Hilco Streambank were engaged by the Board to run a sales process for the intellectual property (IP) and business assets.
In our review of the intellectual property assets held by the Company, we leveraged our specialist IP knowledge to determine that it held an intellectual property asset that was potentially worth more than the business itself: the two-letter domain name ve.com.
We advised the client that two separate sale exercises should be implemented, one for the business and one for the domain name in isolation which could be carved out of a business & asset transaction.
Following the completion of our dual sale processes, our initial advice proved accurate as a significant offer was received for the domain name.
When considering a business for sale, it is important to view assets in isolation which includes the intellectual property. The sale of VE Global Limited highlights the benefits of working with Hilco Streambank, with our intellectual property expertise opening up avenues to extract substantial additional value from distressed sales exercises.
The Hilco Streambank Europe team combine years of intangible asset valuation with significant distressed transaction expertise, resulting in the best available market data and industry knowledge. We handle your transaction from beginning to end, from developing a specific marketing plan and liaising with interested parties through to completing the deal and coordinating swift completion.
“When assessing the value of assets in a business, it is important to use an independent company. Hilco was a natural choice for this case with the intellectual property expertise of the Hilco Streambank team. With their identification of a potential high value asset, we were able to achieve a satisfying return for creditors of VE Global Limited. Their IP experience was instrumental in the success of this sale, helping us to leverage a valuable asset which improved the outcome.” – Opus
“Intellectual property has never been more relevant or important. By understanding the value of intangible assets held by a Company, the Hilco Streambank team can lend our valuation and disposition experience to this underappreciated asset class to develop disposition strategies that generate greater returns for our clients.” – Jack Gillespie, Director, Hilco Streambank
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