Advisory

The expansion of a company, a strategic reorientation or a re-organisation: in the field of mergers and acquisitions (M&A) there are opportunities for companies of every size and in every sector to increase in value. These corporate challenges, however, can also be accompanied by significant risks for a company and its decision-makers. Due to the fact that such purchase and sales transactions are not part of the everyday business of a company, we recommend seeking the assistance of our experts.
Our philosophy of combined consulting offers the ideal basis for the services we provide within the framework of financing solutions by means of the networking of experts from diverse specialized areas, markets and the connection with tax and other experts.

Our Services:

• Comprehensive support in M&A transactions, both buy and sell side
• Evaluation of business plans, preparation of all materials for transaction, including teasers, information memorandum, letter of intent, memorandum of understanding, and request for proposal.
• Support in negotiations with sellers or potential investors
• Budget forecast and valuation based on DCF, multiple and/or comparable models
• Financial, tax and commercial due diligence
• Post-merger integration
• Purchase price allocation

The term „Due Diligence“ describes the careful, systematic and detailed investigation, examination and analysis of the data of an investment, take-over or merger candidate or the disclosure of information by the target object itself. Due Diligence extends far beyond the formal audit of, for example, the annual financial statements or the trading books.

Our support includes the following activities:

• Analysis of the financial situation
• Valuation of important accounting documents in terms of assessment changes and accounting changes
• Examination of contracts concluded with customers, suppliers and employees with a view to their effect on the assets, finances and revenue of the target company
• Derivation of purchase price relevant results e.g. EBITDA or EBIT
• Analysis of the sales revenues and margins according to company sectors
• Examination of existing financial forecasts and establishment of alternatives
• Audit of the mathematical accuracy of the integrated planning

Further services:

• Determination of possible deal breakers
• Analysis of the company to identify important value drivers and the decisive success and risk factors
• Advice on the form of the deal (acquisition structuring)
• Valuation of the target
• Support in the establishment and negotiation of the purchase price

In addition to Financial Due Diligence is Tax Due Diligence of great significance in relation to the acquisition of a company.

Corporate crises happen. The causes can be market-driven changes (e.g. slump in sales, competitors, technological change), company-internal changes (e.g. controlling, cash-flow, creditworthiness, equity capital, management, transparency) and macro-economic changes (economic situation, regulations, laws, State intervention). By means of suitable reorganization strategies, the value of the commitment for all interest groups should increase.

Our Services:  

• Status Quo Analyses, Short and Medium-Term Liquidity Needs
• (Strategic) Business Reviews
• Compilation of, and Independent Examination of, Reorganisation Concepts
• Analysis of Crisis Factors and Proposals to Improve Operative Performance
• Compilation of Plan Scenarios using Simulation Models
• Prognoses regarding Continued Operation
• Economic Support in Restructuring Measures, including Controlling of Measures
• Search for an Investor (Finance Investor, Strategic Investor) to Secure Long-Term Continued Business
• Support in Financing Questions and Bank Negotiations

Conducting feasibility studies is a process that justifies financing a certain project. In other words, it is the starting point for making a decision about realization of the project. The feasibility study is a written document that, in addition to the detailed descriptions of business plans and the method of financing the project, also contains market data (needs, capacities, prices, competition), capital investments data and their technical characteristics. The study also includes calculations of financial performance of the project and simulation of these parameters' sensitivity to changes in key input settings.
Main parts of feasibility studies are usually: 

• Purpose and scope of the document 
• Current operations
• Project description 
• Description of product or service that is the result of project implementation 
• Market analysis
• Sales channels analysis 
• Working force requirements
• Projection of operations
• Financial indicators 
•  Model sensitivity testing 
• Summary/conclusion