Our Services
Acquisitions Advisory
We love acquisition mandates because they give us the chance to form long term client partnerships. Our approach begins with understanding a client's business and the market in which they operate. We benchmark opportunities to a range of assessment criteria to determine whether they are an attractive prospect and fit with our client's business.
We develop a bespoke financial model for each client that enables us to analyse the impact of the transaction on their business and track the performance of both the acquired business and the group as a whole. The model also allows us to test the sensitivities affecting the performance of the business. This work is shared with the client so that they can better understand their own business and chart the contribution that the acquisition strategy is making.
First and foremost we are deal originators. We feel that the best relationship is one where we work with the client to generate acquisition opportunities.
We understand the client's primary concern is to complete value adding transactions. This is achieved by hands on project management of all stakeholders, not only our client's advisory team but also the vendor, who is often unfamiliar with the sale process.
Typical project elements include:
Setting the target parameters
We work with our clients to set parameters relating to price, expected returns, valuation multiples, funding parameters, transaction structure (deferred consideration, incentives, performance measurement etc), risk, BICS industry group and sub-group;
Acquisition assessment framework
We condense the parameters into a working document, against which opportunities are assessed;
Search
We are one of the few firms who will take a buy-side mandate to market and locate potential targets;
Valuation
We conduct an independent valuation of the target business;
Impact analysis
Most clients want to see the impact of an acquisition across all areas of their business from a financial perspective. This involves creating a financial model for the client's business, the target's business and preparing consolidated financial statements showing the impact of the acquisition on earnings, revenue, OPEX, CAPEX and tax;
Sensitivity testing
We develop detailed sensitivity testing models to ensure clients are aware of the upside and downside impacts of the transaction on the business;
Negotiations
Usually we are given the brief to handle all negotiations on behalf of the client;
Banking submissions
In the event the transaction requires the support of third party financing we often work with clients on their presentations and submission material; and
Project management
We manage the project on a day to day basis so that the client can focus on their business.