Para o seu refinanciamento e oferta de IPO, a Builders FirstSource achava que talvez um data room de papel pudesse consumir um tempo precioso da equipe na gestão do negócio. A empresa havia refinanciado as suas instalações de crédito ao modo antigo em 2004.
Intralinks® helped the Fortune 1000 company stay focused on growth instead of paperwork when it refinanced a credit facility and issued an initial public offering (IPO) in 2005.
For its refinance and IPO offering, Builders FirstSource was concerned that a paper dataroom would siphon valuable staff time from managing the business. In 2004, the company had refinanced its credit facility the old-fashioned way. This process was painfully time-intensive and left the door open for human error.
Management did not want to relive the previous experience when they planned to finance the facility again in 2005. They also knew the highly regulated IPO process would add an even greater administrative burden.
The 2004 refinancing was a drain on the legal team. They were tasked with organizing, numbering, copying and recopying and sending documents over and over again to bankers, underwriters’ counsel, finance people, internal staff and outside counsel. A more efficient process was needed.
The company’s advisors, UBS Investment Bank, recommended Intralinks ExchangesTM as a way to quickly create an online dealroom and eliminate the paper bureaucracy. UBS had used Intralinks successfully on numerous transactions. Builders FirstSource executives were impressed with Intralinks’ easy-to-use interface, security and reputation. In setting up its solution, Builders FirstSource leaned on Intralinks to help organize and upload its documents—more than 30,000 pages—following best practices. IntraLinks’ project management team supported Builders FirstSource every step of the way.
Intralinks helped Builders FirstSource work more efficiently and reduce the disruption in day-to-day operations. Builders FirstSource was able to manage the due diligence and IPO processes directly from team members’ desktops. Requests for additional documents required nothing more than a few mouse clicks to fulfill. The end result was a smooth due diligence process for both Builders FirstSource and the many people reviewing the information
In 2004, such simple requests took up to two weeks to complete via mass and one-off mailings. With Intralinks removing much of the administrative work, Builders FirstSource could step back and look at the big picture. It could easily assess what information it had and what needed to be added as well as track the activity level, viewing patterns and behaviors of authorized users. Builders FirstSource intends to use Intralinks to help alleviate some of the legal and regulatory responsibilities of being a public company. In addition, having all its critical information in one place supports the company’s future growth, should it pursue a secondary offering or other corporate strategy that requires due diligence.