The Blenheim Project and CDP
The Blenheim Project/Community Drug
Project
Merger and due diligence
(CDP) Community Drug Project and The Blenheim Project were two well established organisations providing various services to people with drug problems, primarily in West London. The environment in which these organisations work has been changing, and following a strategic options review, they felt a merged organisation would ensure that both charities would be better able to meet their objectives. Sayer Vincent was asked to undertake financial due diligence on both organisations. This involved reviewing the history and governance, risk assessment, accounting systems, sources of income and expenditure, financial history, reserves, restricted funds, commitments, contingent liabilities and fixed assets for each organisation.
The work resulted in the production of two reports - one on each of the merger partners. These reports included a discussion of the key financial features of the organisation, highlighting any particular strengths and weaknesses. An executive summary in each report provided a comparison of the two organisations. This report allowed the trustees to make an informed decision to proceed with the merger and will help to ensure that any potential problems can be identified and resolved at an early stage.
"Sayer Vincent was professional and helpful throughout what can be a disruptive and emotional process for staff. Their results were comprehensive yet focused, allowing the two Boards to be confident of the implications of merging. It is in large part because of Sayer Vincent's ground work that the merger has gone so well thus far." Eric Feltin, Chair, The Blenheim Project