- You want to pass on your life's work or your investments at an optimal value?
- You want to be independent of individual banks and implement a customized solution for your corporate financing?
- You would like to know the current value of your company and develop a sound M&A strategy?
- You want to invest part of your asset allocation in off-market direct investments?
In these and other issues, we are your professional partner: independent, transaction-experienced, and with real industry competence.
Mergers & Acquisitions
The initiation and implementation of corporate transactions is our profession. Our focus is on the purchase and sale of mostly owner managed medium-sized companies.
We assist entrepreneurs, international corporations, private equity firms, and family offices in the successful implementation of M&A strategies. With unconditional dedication and extensive transaction experience we assist you in the following events as a proven M&A specialist:
- Business Succession (customized handing over of business, trade sale, LBO, OBO)
- Sale (exit of portfolio companies, secondary buy-out, spin-off / carve-out)
- Acquisitions (implementation of active acquisition strategies, target valuation, DD support)
- The sale to own and/or external management (MBO/MBI)
- Sales in the event of a crisis (distressed M&A)
„The sale of a company is often more complex than the original founding. We help you to sail around the many cliffs safely and to realize a fair value.“
The sale of a life's work is a unique event and often proves more complex than the founding of the company. In addition to maximizing the sale price the ensuring and maintaining of the established corporate and non-material values will be given priority.
In the course of handing over the business we cover the entire process for you, from the initial idea, approaching investors, to the negotiations.
At the beginning we create a substantial value analysis for you. This will provide, apart from an indication on the realizable selling price, valuable arguments for its maximization and the number base for the valuation of the buyers. Based on our international network of industry-specific investors, private equity firms, and family offices, we assess potential buyers based on their strategic fit. Our highly personalized approach guarantees maximum confidentiality towards customers, suppliers, and employees.
You can also trust in our efficient support within the context of due diligence, as you can on our experience in negotiation and in the conclusion of the contract.
Since the sale of a life's work ultimately corresponds with the transfer of tied entrepreneurial values into liquid personal assets, we will promptly make it the subject of discussion for your future wealth management. Because of our independence, we, if required, will only refer you to specialists (such as asset managers, accountants and succession planners) who fit your personal needs.
„Free up values for your core business which are now bound in historically grown non-core activities.“
We support you in the sale of interests or business areas, with the objective to realize created or hidden values in your corporate portfolio profitably.
We are your strategic sparring partner when it comes to answering the question about the right time of divestiture. We will give you our assessment of the current M&A landscape of your industry, as well as current attractiveness of the company or business unit from an investor's perspective.
Based on our industrial expertise, we specialize in finding the best strategic buyers worldwide and developing customized transaction structures. If financial investors or family offices ought to be the most suitable investors, we can also address them personally through our long-established networks.
We will also help you, if needed, with the separation of former business segments. It is often necessary to carve out these segments prior to a divestment in order to increase the attractiveness of the transaction for investors. We create the optimum conditions for the independence of the spin-off of the object via an appropriate structuring of the balance sheet and financial engineering.
„To grow organically sounds healthier than it is. To buy the right company sounds more adventurous than it is.“
Together we will develop a strategy for external growth and define search patterns and evaluation criteria for a specific target approach. Through the proactive acquisition strategy you will achieve a significant increase in the probability of successfully completing an acquisition.
With a widespread purely opportunistic approach, meaning a passive wait-and-see attitude with the hope that potential takeover candidates are brought to the company - you will almost exclusively get into conversation with companies which are in difficulties, or in a professionally put-on sales process. In contrast, by our engagement, you get into the driver’s seat and create exclusive bargaining situations that minimize the risk of paying an excessive purchase price due to the reduced competitive pressure.
We provide you with an objective assessment of the target company and the achievable synergies, and advise you in choosing the optimal transaction structure and the formulation of an offer. Then we support you assessing the company within the framework of the commercial/financial due diligence, and facilitate the overall exchange of information amongst involved due diligence parties (buyer, seller, banks, auditors, tax advisors, lawyers, strategy consultant and others).
At the same time, we are committed to ensuring the financing of the acquisition with specialized banks, and where appropriate, equity holders, and we will assist you in the negotiations until the closing of the transaction.
„The successful sale to the management combines strongly opposed interests.“
In the context of the complex issues of a sale to the management (management-buy-out, MBO) or to external leadership (management-buy-in, MBI) we offer competent and experienced support to the entrepreneurs as well as to management.
Often the first question is: is the purchase of a company generally affordable for the management?
We develop solutions to close the commonly occurring funding gap of MBO/MBI transactions via external equity and debt investors that meet the personal financial strength of the management as well as the price expectation of the entrepreneur.
We can manage a structured transfer process for the parties involved, whereby the succession-interested entrepreneur sees his life's work adequately protected and compensated. At the same time an attractive participation model is developed for the management. As a neutral moderator any emotional conflicts of interest are objectified by us and steered into solution-oriented tracks.
Sales in times of crisis
„Finding an investor as a rescue at the last second.“
During challenging times, such as tough economic situations, many firms with an otherwise healthy core business get into difficulties from which they cannot free themselves by their own means.
If the company approaches a cash flow problem and banks remain inflexible, M&A can do something exceptional for you.
Taking in an investor is often the last possibility, but can be, based on the circumstances, a quite attractive way to avert the insolvency of the company, to secure jobs, and to prevent any imminent personal bankruptcy.
We look for a suitable investor at top-speed, negotiate with your banks and convert the transaction in the course of a rigidly structured process. Through our direct access to investors and our experience in a rapid build-up of competitive pressure among those interested parties, we are able to tie up a transaction package that will successfully avert bankruptcy, and also give you the chance of a fair selling price.
As an independent advisor we design tailor-made financing solutions that meet your business- and growth –strategy in the best possible way. Our focus is on so-called strategic financing solutions, such as equity participation (e.g. silent participation), debt capital instruments for financial leverage, or hybrid financing solutions (e.g. mezzanine).
We especially focus on, and have an extensive expertise in:
- Growth financing
- Risk reduction by raising equity (e.g. Private-Equity investors)
- Financing acquisitions
- Optimizing the capital structure
„In order to ensure that financing issues do not put brakes on your expansion plans.“
You want to expand your business further? Enter new markets? Extend your value creation or product portfolio?
We support you regarding those issues and other growth plans through the design and arrangement of a viable long-term financial solution.
For a successful raising of growth capital, we offer the following services:
- Determine your strategic goals
- Carry out in-depth capital structure analysis
- Determine an optimal capital structure and suitable financing instruments
- Structured approach of the right financing partners to determine the best conditions
- Give comprehensive assistance in the negotiation and the documentation preparation up to completion
As your bank-independent advisor we develop for you alternative financing options, and show you exactly those financing instruments that meet best your strategic objectives.
Especially with capital-intensive growth plans, a well-considered image of your strategy in financing is an essential factor for success. Depending on your capital requirements, different instruments are possible to use. These include traditional bank loans, hybrid instruments such as silent participations, mezzanine capital or taking in an external minority investor.
„We find the right partner to increase your maneuverability and reduce your risk.“
Are you looking for the right partner to further expand your business? You want to transform fascinating ideas into great products ready to be launched? Your aim is to “free” parts of company tied-up capital and bring it to your private side?
Equity Capital can be a very attractive solution for such strategic intentions. In respect thereof we offer the following services:
- Determination of strategic goals and funding requirements
- Carry out an in-depth, and detailed company valuation and determine the right partner as well as an appropriate transaction structure
- Organize a structured approach of suitable investors (e.g. institutional investors, family offices)
- Ensuring competitive pressure among the interested investors and negotiation of an attractive valuation
Equity financing enables you to build up a solid finance base, giving you the possibility to realize major growth plans, which are sometimes difficult to realize with your local banks. At the same time it allows you to continue to conduct the affairs of the company yourself. In that case, silent partners or minority shareholders are favorable, who in addition to contributing capital, also bring in their own network and can be even bought out after a certain time. Furthermore you can of course always bring in a permanently committed investor, to, for example, pay off an existing shareholder.
We support you in identifying the right investors, considering within a structured selection process whether they are suitable, and finally oblige them to your business as part of an appropriate participation model.
„Values have their price. We help you to fund it.“
We support you in financing intended acquisitions with a minimum commitment of your own capital, but without taking uncalculated risks. Our consultancy with regards to acquisition financing includes the following services:
- Precise capture of the incurred debt capacity of the takeover candidates
- Derivation of the optimal debt structure and appropriate instruments
- Organize a structured approach of suitable investors to evaluate the best conditions
- Giving comprehensive assistance in the negotiation and the documentation process up to completion
As a completely independent advisor, we can show you a wide-ranging variety of tailor-made financing options. Therefore we can compile the best possible financing package for your acquisition plan.
Based on an in-depth financial analysis of the target company, we first examine the debt capacity of the takeover object. Afterwards we develop a tailored financing structure, optimized not only in terms of interest, repayment and covenants, but we also consider leaving enough space for future growth investments.
Optimize the Financial Structure
„Gain freedom. Transfer new ventures into a solid capital structure.“
Entrepreneurs or managers, who are strongly involved in the daily operations, are often facing difficulties when it comes to keeping an eye on the capital structure. In order to meet short-, medium-, and long-term capital requirements and strategic growth plans, we will show you suitable financing solutions.
With regards to optimizing your capital structure we offer the following services:
- Determine your strategic goals
- Create a detailed business plan
- Derivation of an optimal capital structure
- Organize a structured approach of existing capital providers (e.g. banks) and potential new funding partners
- Giving comprehensive assistance in the negotiation and the documentation process up to completion
Top priority is always to optimize financing costs and to increase your entrepreneurial independence. We will not only assist you in communicating with existing local banks, but also set up – if needed – alternative capital providers, in order to replace current loans with more favorable ones.
In many cases this opportunity can be used to restructure your balance sheet liabilities and, should the need arise, replace existing loans with banks that are hesitant towards your future plans with suitable new ones.
In addition to the preparation of professional documents, we take over the usually time-consuming and laborious financing negotiations. Through a simultaneous approach, we aim to increase competition among potential capital providers, and therefore seek to decrease price and negotiation power of individual banks. The main focus of our activities is to provide you with enough space, so that you can concentrate on the actual business.
Business Valuation & Strategy
M&A is considered the supreme discipline of strategy. The correct assessment of the performance of one's own company as well as the continuous monitoring of changes in market and competitive structures of the own industry form the central basis for the direction of the company: organic growth, purchase or sale.
Aquin has, like all major international investment banks, the necessary tools and databases, but, above all, highly qualified analysts to provide the necessary information required for a thorough discussion.
You can expect substantial market feedback and valuable ideas from us regarding:
- Company valuations (discounted cash flow analysis, value multiples of comparable transactions and listed companies, LBO modelling, quantification of synergy potentials)
- M&A strategy (business model development with M&A, best buy, and sell points in time, M&A benchmark analysis)
„The value is in the eye of the beholder - what makes your company valuable for investors?“
We provide you with a thorough assessment about the value of your business in detail and the company as a whole.
We evaluate your business with the help of all common valuation methods, such as DCF analysis (discounted cash flow), the value multiples from past transactions and listed companies (CTA/CCA), or a Leveraged Buy Out analysis (LBO-model).
The result is not, as in appraisals created for tax purposes, a purely theoretical value, but a real market value which we believe to be achieved in the context of our transaction experience.
Based on the valuation we can set realistic price expectations, explore action items, or judge the fairness of a takeover bid. This valuation is the basis for deciding when and how a possible sales process should be initiated. Moreover, any critical areas in a later M&A process can be identified.
Based on our extrapolated scenarios you will also receive leverage points of how to make your business even more valuable.
By the way: We are often appointed by the big banks or auditors, as we, in contrast to their own experts, based on our understanding of the industry, determine the real market value and not a purely theoretical one.
„M&A – a strategic response to accelerating industrial cycles.“
We support your decisions about the direction of your company through M&A specific analysis of market and competition structures and unique background information that we gain through our network and mandates.
Who buys who, for how much, and why? Can I stay successful within my niche segment? Can I still grow organically at a sufficient rate? When is the optimal time for acquisition or sale?
These are just a few of the many essential questions which play a crucial role in the creation of a company-specific M&A strategy.
In the consultants of Aquin & Cie. and its industry experts you will find appropriate discussion and sparring partners, who are not only sound financial experts but have also made or prepared long-standing strategic decisions, whether as former entrepreneurs or as top executives.
We identify the "window of opportunity" from the industrial and financial perspective and also show you which buyers are particularly active and what they are "hungry" for.
Based on a sound data base and industry analyses, but in particular on our common discussion, we mutually develop a strategic direction you are 100% comfortable with.