Spin-Offs: Where Value Accrues After Separation

Spin-offs remain one of the most compelling corporate events for value creation, but not all separations are created equal. Our analysis of recent transactions highlights where the strongest opportunities have emerged, the sectors driving activity, and the characteristics that have differentiated winners from the broader market. The findings reinforce that successful spin-off investing starts well before the separation, with careful identification of businesses where independence can unlock a clearer and more compelling investment case.