Pre-deal Projects

Acquisition target identification

Specialised consulting firm - UK / Switzerland

QUESTION

  • A specialised pharma business consulting firm wanted to expand their activities in the UK to be closer to some global pharmaceutical companies’ Headquarters
  • Our client asked us to map the competition and identify what companies they should approach

RESULT

  • Three potential targets were identified and valued
  • Our clients assessed that the acquisition process would be too time-consuming, decided to opt for a “greenfield” approach and hired a Managing Director to build the UK office from the ground up

APPROACH

  • Identification of the target selection criteria
  • Competitive landscape
  • Identification, description, and assessment of all potential targets in the UK
  • Selection workshop
  • High level valuation of the 3 targets selected
  • Development of a pitch document to approach the 3 selected targets

CLIENT FEEDBACK

“Thank you for supporting us throughout this process. Your assistance has helped us understand the market. It has also made it clear that acquiring and integrating a new company would be too demanding an undertaking, considering our current bandwidth”

Acquisition Due Diligence

Private Equity Fund – Virtual real estate agency – France

QUESTION

  • A private equity fund asked us to review the value of a potential acquisition: an ecommerce company in the real estate sector
  • The company had multiple activities with complex underlying market drivers

RESULT

  • The company was bought by our client
  • 1 year later we were asked to further help reviewing the company’s strategic plan

APPROACH

  • Analysis of the segmented demand, underlying drivers and forecast
  • Blueprint of the competitive landscape, identification of business models and assessment of their business efficiency, identification of direct competitors
  • Assessment of the company’s strengths and weaknesses against identified Key Success Factors compared to direct competitors
  • Identification of the growth acceleration levers and required investments
  • Development of a realistic 3-year EBITDA for valuation and the level of risks and uncertainties
  • Presentation of the investment opportunity to help our client in syndicating the required financing for acquisition

CLIENT FEEDBACK

“Thank you for helping us build our conviction during the due diligence process with robust backed up top line forecasts and valuations”

Vendor due diligence

Investment bank – Automotive / trucks spart parts and repair network – France & UK

QUESTION

  • An investment bank needed to divest a €1 billion car repair network company in France and asked us to develop the business part of their info memo
  • Complexity: very complex distribution market structure

RESULT

  • The company was successfully sold to a Private Equity Fund

APPROACH

  • Blueprint of the distribution market structure (business models, channels, types of players, main competitors per segment) and its evolution
  • Analysis of segmented demand (needs, trends, and value)
  • Identification of the key drivers of the market dynamics (demand and competition) and 3-year demand forecast
  • Identification and description of key success factors
  • Relative assessment of client’s company strength versus competition along the business key success factors
  • Identification of priority markets, potential for revenue growth and performance improvement initiatives
  • Identification of missing capabilities and subsequent required investments
  • Detailed business and financial plan, valuation, and investment story
  • Presentation to investors

CLIENT FEEDBACK

“We have been involved in financing this business for 3 years and it is the first time we fully understand what the company is really about, together with what we can expect in terms of further development and challenges”