Transactions

[Infographic] The Codependency of Joint Ventures

Joint ventures are a critical tool for companies to access or commercialize new technologies and capabilities, share risk, meet local regulatory requirements, gain scale, and pursue capital-light growth.

Authored By

James Bamford

Shishir Bhargava

Edgar Elliott

JANUARY 2022 – Most JVs can and should lean on their owner companies for a variety of support – but the benefits may come with costs, risks, and potential conflicts. Our analysis shows that over 85% of JVs depend on their owners for at least some services, with reliance often heavier at the start of the JV. Here’s our advice on managing these complex commercial relationships.

The Codependency of Joint Ventures [Infographic]
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How We Help: Transactions

We understand that succeeding in joint ventures and partnerships requires a blend of hard facts and analysis, with an ability to align partners around a common vision and practical solutions that reflect their different interests and constraints. Our team is composed of strategy consultants, transaction attorneys, and investment bankers with significant experience on joint ventures and partnerships – reflecting the unique skillset required to design and evolve these ventures. We also bring an unrivaled database of deal terms and governance practices in joint ventures and partnerships, as well as proprietary standards, which allow us to benchmark transaction structures and existing ventures, and thus better identify and build alignment around gaps and potential solutions. Contact us to learn more about how we can help you.

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About the Authors

James Bamford

James Bamford is a Senior Advisor at Ankura based in Washington, DC. He joined Ankura with the firm’s 2020 acquisition of Water Street Partners, which he co-founded in 2008. Water Street Partners has been independently ranked as the number one global advisor on joint ventures since 2017. Prior to Water Street, he was global co-lead of the Joint Venture & Alliance Practice at McKinsey & Company.

Shishir Bhargava

Shishir Bhargava is a Managing Director at Ankura based in Washington, DC. He advises clients on transactions and their post-deal governance in the energy, natural resources, and technology sectors. His transaction experience includes developing deal strategies, screening investments, structuring and restructuring joint ventures, and minority equity investments. He also helps companies build transaction capabilities and negotiate better outcomes. Prior to Ankura, Shishir worked at IBM where he led JV and partnership deals and at Hero MotoCorp of India, the world’s largest motorcycle manufacturer, which was established as a joint venture with Honda Motorcycles of Japan.

Edgar Elliott

Edgar Elliott is a Senior Associate at Ankura based in New York. He works across the joint venture and partnerships landscape, from advising on joint venture transactions, through to performing governance reviews of joint ventures and reviews of companies’ JV portfolios. He has worked with companies in various geographies, including in the Middle East, Europe, and the Americas, and across different industries, including the oil and gas, healthcare, aerospace and defense, and semiconductor sectors. Edgar holds degrees from Columbia University in Chemistry and in Classics.

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