Harvard Business Review

MARCH 28, 2013

But that’s not what HHL Leipzig management school and BCG found when they looked at 225 start-ups that PE firms bought from one another between 2006 and 2012. While on average the initial PE firm increased a start-up’s value by 20%, the second firm found plenty of room for improvement, increasing the average value another 24%.

Supply Chain 8

Supply Chain EBITDA NGO Taylorism 8

Harvard Business Review

DECEMBER 10, 2012

Pfizer divested its consumer health care business in 2006, selling it to J&J for more than 20x EBITDA. Jeff Immelt was happy to free up some of the capital GE had in NBC/Universal two years ago; how long before he decides to free up the rest? Pfizer Inc. Pfizer Consumer Healthcare. A spectacular move — or was it?

Due Diligence 15

Due Diligence EBITDA Health Care Gordon 15

Strategy Driven

MARCH 18, 2011

In 2006, Pfizer directly redeemed the value built by PCH by selling the business to Johnson & Johnson for an unprecedented US$16.6 times EBITDA (compared to average multiples of 15 at the time). It divested a number of personal care and confectionary lines (e.g., Schick razors and Trident) and acquired other products (e.g.,

Resources 52

Resources Industry System Strategy 52