Company profile * Quintiles Transnational Holdings Inc., the largest global provider of biopharmaceutical development and commercial outsourcing services * Grew its revenue at a CAGR of 7.3% and EBITDA at 13.9% between 2008 and 2012 * Major owners are: Dennis Gillings (founder), 4 private equity firm * Taken under management-led-buyout in 2003 and recapitalized in 2008
PESTEL
P: no political involvement & threat
E: economy has impact on business
S: people in society are more cautious about healthcare
T: technological changes in trial is rapid and has huge impact
E: no green movement is directly involved
L: government keep changing policies regarding this industry

Industry: CRO (contract research organization)
Bargaining power of Buyer: moderate
Bargaining power of suppliers: moderate
Threat of new entrants: low
Threats of substitute: low Rivalry in industry: moderate

Business Situation: have relativity to the performance of the economy
Statement of Problem: 1. How the private equity firm should monetize their position? / Exit from their position? 2. If it goes for IPO, what will be the potential time based on macroeconomic trends & what will be the benefit and downsides to this option versus other exit options?
Alternative:
1. M&A sale to strategic or financial buyers, 2. IPO (10.6 million existing share & 13.1 million new share) 3. Capital restructuring through special dividends.
Possible Alternative: 1. IPO pricing using free cash flow from equity model 2. Capital restructure through dividend

Business Risk: after calculation comment
SWOT:
S: has contributed for large portion of drugs in the market, diverse product portfolio
W: no control over patent cliff effect
O: global growth in R&D spending, unchanged pipeline drug candidates
T: reduced number of