Corporate Finance

• Exiting your business can be daunting but is incredibly important - often realising years of effort. We take the time to understand your needs and aspirations before putting together a strategy and leading you through the process to achieve the best exit for you and your business
• We project manage the process from start to exit

Whilst every journey is different, typically the main steps are:

• Strategic review of your position and the company, identifying matters to address pre-sale (both from a commercial, financial and tax perspective)
• Researching and developing the most appropriate sale option, target buyers and strategy
• Preparing for due diligence and producing targeted and professional sales documents
• A confidential sales process with the creation of competitive tension to maximise value
• Negotiation of the best deal consideration, terms and structure based on what matters to you
• Managing the entire sale process through to successful completion

• Acquiring a business opens many opportunities for existing businesses; for some, it is the route to business ownership. Professional advice is critical to avoid expensive mistakes and risks. We make sure we understand your acquisition goals and collaborate with you to make them a reality
• Whilst we can manage the process, acquisitions are often led by the buyer and typically we add value for our clients through cost efficient professional advice at key stages. We have extensive experience advising businesses, business owners, management teams, entrepreneurs and investors.

Typically, we assist in the following areas:

• Working with you to develop acquisition criteria and identify suitable targets
• Planning and making a professional approach to target sellers
• Advising on an appropriate valuation and deal structure as well as any funding needs
• Preparing forecasts to support affordability and funding
• Undertaking financial and tax due diligence to mitigate risks
• Support throughout the acquisition to get the deal over the line

• Tailored financial and tax due diligence is critical to enable a proper understanding of a business as well as any risks that may be present. This enables our clients to be fully informed of the risks that matter to them and how to address them before proceeding with a transaction. Our team has significant experience undertaking tailored due diligence for vendors, buyers, and investors.
• Our team has advised on deals for years, on both sides of the transaction. Their extensive experience results in financial and tax due diligence that knows what to look for and what matters whilst ensuring good relations are established with the target business.
• Our approach to due diligence is to work alongside you. As well as creating a highly beneficial report documenting the business and relevant risks and mitigation suggestions, we communicate with you throughout the process to ensure matters are brought to your attention early. We offer a completely customisable approach which allows us to adapt our work during the process and focus on what matters most.
• Our advice is made clear to understand and is practical. We know the difference between a serious risk and something manageable.

• What is a business worth? The eternal question. Valuing a business or a shareholding depends on a multitude of factors and the context of the valuation in question.
• A good, robust valuation is key to making informed decisions and for standing up to any scrutiny from authorities, such as HMRC. Our team of experts have undertaken hundreds (or more) valuations for a variety of reasons and is perfectly placed to provide you with a timely, cost-effective valuation for your needs.
• Firstly, we work with you to understand the unique characteristics of the business and its financials. We then determine the appropriate valuation methods to use and undertake detailed market research and analysis. We will discuss our valuation with you and keep you well informed throughout the process.

We are highly experienced in undertaking valuations in areas such as:

• Mergers and acquisitions
• Probate, employment related securities, and connected party transfers
• Employee incentive schemes such as share options and growth shares

• For many businesses the right funding is key to achieving a future exit. Our team gives bespoke advice to match you with the best funder for your needs. We have considerable knowledge of debt, grant and equity funding options and are well placed to find the right funding for you.
• We will ensure you are aware of your options and have a well thought out funding proposal which stands up to scrutiny, ultimately getting the best funding outcome.

Besides cash, acquisitions can be financed by a mix of debt from high street banks or alternative lenders (cash flow loans, asset finance etc.), vendor loans (i.e. paying in instalments), contingent consideration (e.g. payment based on performance), and equity (e.g. shares in acquiring entity). Financing options and suitability varies deal by deal and we can help find suitable options.

Valuation of a business involves estimating the value of the cash it will generate in the future in today’s money. Common methods are: multiple of earnings: a sensible earnings figure multiplied by a number reflecting its value and risk. Discounted cash flow: forecast the cash flows and discount them to present value, reflecting the return on investment required. Ultimately valuation differs depending on the perspective of the valuer.

An MBO is the acquisition of a company by some of its employees, usually the management team. Given the management team acquiring usually has limited financial resources, usually this is financed and may be backed by another investor such as a private equity firm with management taking a minority equity holding or sweet equity.