Most companies periodically review their operations to identify businesses that can be divested to raise capital for new opportunities. But most of these companies overlook the potential in selling their support service units, tending instead to focus on cost reductions for them.

Our research finds that these services are sometimes prime candidates for divesting. We looked at 30 recent transactions and discovered, on average, an immediate cash injection of 250 percent of book value, as well as cost savings of up to 40 percent.