Introduction: When Separation Becomes a Strategic Imperative

Carve-outs are rarely simple. But when the separated entity is a critical infrastructure provider, the complexity, and the consequences, intensify.

This was the case for a prominent UK-based regional airport operator that needed to rapidly separate from its financially unstable parent company. With no internal IT leadership, no defined digital strategy, and a six-month window to become fully operational, the risks were substantial. A poorly executed transition would not just disrupt operations, it could jeopardise a major acquisition and the business’s long-term growth ambitions.

Enter Panamoure. Tasked with leading the digital transition, we were brought in to assess, architect, and deliver a complete carve-out and transformation, from IT infrastructure and supplier strategy to delivery governance and digital roadmap. The result? A business-critical migration completed on time, on budget, and with zero disruption, laying the foundations for a 50% revenue uplift and long-term scalability.

Here’s what we learned.

1. Carve-Outs Must Be Treated as Strategic Initiatives

Separation is more than a technical exercise, it’s an inflection point in a company’s growth journey. Especially in private equity-led scenarios, a carve-out can become the moment where business value is either unlocked or lost.

We worked alongside the executive team to reframe the IT carve-out as a business transformation programme. Rather than replicate existing structures, we designed a scalable, digital-first IT model tailored to the airport’s growth ambitions, including 10M+ future passengers and seven new airline routes. This strategic shift changed how decisions were made, from firefighting to future-proofing.

2. Don’t Let Transitional Services Become Permanent

TSAs are often negotiated as safety nets, but they can quickly become handcuffs. In this case, the instability of the parent company demanded rapid disconnection and a fully independent operating model.

Our approach: negotiate limited TSAs while simultaneously standing up core services in parallel. Within weeks, a new IT infrastructure and service model were operational, enabling the client to exit transitional arrangements early and avoid exposure to the parent company’s financial challenges.

3. When There’s No Leadership, Embed It

No internal CIO. No IT Director. No delivery team. These are not uncommon in mid-sized or carve-out businesses, but they represent a major risk when the pressure is on.

Panamoure filled this gap with interim IT and programme leadership embedded within the client’s executive team. We led supplier engagement, risk governance, stakeholder alignment and delivery orchestration, acting as a single point of accountability across business and technology workstreams.

4. Treat the Carve-Out as a Catalyst for Digital Uplift

Too often, carve-outs are limited to replicating the status quo in a new environment. But with the right mindset, they can accelerate modernisation.

We helped the client move from outdated legacy systems to a cloud-optimised, scalable infrastructure. This wasn’t just about technical architecture, it was about enabling growth. New supplier relationships, scalable support models, improved data governance, and operational readiness were all built in from the start.

The reward? Post-transition, the airport saw a rapid uplift in revenue, capacity, and investor confidence, including a successful £15M revenue boost and critical deal closure during the parent group’s administration.

5. Execution Excellence Is What Delivers the Value

The plan is only as good as the execution, and in this case, pace was everything. Within 10 weeks, we completed discovery, blueprinting, governance mobilisation and delivery planning. The final migration was delivered on schedule, with zero downtime.

We built a robust delivery model, integrating programme governance, three-way mediation between parties, and comprehensive risk management. For high-stakes transformations, this level of rigour is non-negotiable.

Conclusion: Carve-Outs Aren’t Just Risk—They’re Opportunity

This project demonstrates what’s possible when separation is treated not as a disruption, but as a moment of strategic creation. The business didn’t just survive the carve-out, it emerged stronger, faster, and future-ready.

For PE acquirers, CFOs, and operational leaders, the takeaway is clear: IT carve-outs are pivotal moments in the value creation lifecycle. Done right, they accelerate transformation, unlock new capabilities, and build resilient digital foundations that scale with the business.

At Panamoure, we specialise in making that happen. Through our deep transformation expertise and embedded delivery approach, we don’t just manage separation, we turn it into a springboard for long-term success.