Selling or acquiring

Selling, acquiring, handing over: the right price starts from defensible numbers.

Independent valuations, preparation for sale, due diligence and support throughout the transaction, for those selling a business, those acquiring one and those handing it on to the next generation.

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“Valuations are there to show where you really are, not where you would like to be.”

Michele Collini · ACCA Member
When you need it

Warning signs not to ignore

You have received an offer for your business and don’t know whether it is fair.
You are considering buying a business or a business unit.
You need to decide who will lead the business after you.
A shareholder wants to exit and you need an agreed value.
Three different numbers

Indicative value, full valuation, negotiated price

Indicative value

A preliminary range based on the data available: it shows whether and when selling makes sense.

Full valuation

A reasoned value, with stated methods and checks on the numbers: used in negotiations, with shareholders or in court.

Negotiated price

What a buyer is willing to pay, on the agreed terms: it also depends on the market, the alternatives and the deal structure.
Areas of Expertise

Five distinct activities

Business valuation

Independent valuations using recognised methods (DCF, multiples, asset-based).

Full service details →

When you need it
An offer received, a shareholder exiting, business succession, a dispute.
What you receive
Valuation report with methods, assumptions and value range.
Not included
Sworn appraisals and attestations, unless specifically engaged.
Indicative timing
3–5 weeks from receipt of the complete data.

Preparation for sale

Putting numbers and documents in order before going to market.

When you need it
12 to 24 months before the sale.
What you receive
  • Normalised EBITDA and historical figures
  • Anonymous teaser and information memorandum
  • Well-organised data room
Not included
Active buyer search, unless under a specific mandate.
Indicative timing
2–6 months, depending on the state of the documents.

Due diligence

In-depth review of the numbers of the business being acquired, or preparing the seller for the buyer’s review.

Full service details →

When you need it
Before signing a binding agreement.
What you receive
Report on the issues found and their impact on price.
Not included
Legal and tax due diligence, which remain with the respective professionals.
Indicative timing
3–6 weeks.

Advisory during the transaction

Support in the negotiation, from the letter of intent to signing.

When you need it
When the negotiation gets under way.
What you receive
Analysis of offers, deal structure, support in meetings.
Not included
Drafting of contracts, which remains with the lawyer.
Indicative timing
For the duration of the transaction.

Business succession

Sale to a third party or handover within the family: it needs an agreed value, a plan for whoever takes over and clear rules for whoever leaves.

Full service details →

When you need it
When the owner starts planning their exit.
What you receive
Valuation, business plan for the successor and an outline deal structure.
Not included
Succession and corporate matters, which remain with the notary and the lawyer.
Indicative timing
To be agreed based on family and corporate complexity.
How I work

From first contact to closing

1

First conversation

30 minutes to understand the transaction and whether I can help.
2

Analysis and valuation

Numbers, risks and value of the business, with a stated method.
3

Preparation

Documents, data room and due diligence: the numbers ready for the other side.
4

Negotiation and closing

Support in negotiations through to signing.
Experience

Role, issues, outcome

Hospitality

Role
Corporate finance adviser on the acquisition of a historic building for hospitality use.
Issues
Economic sustainability of the project after the purchase.
Outcome
Business plan supporting the transaction; ongoing engagement.

International transaction

Role
Adviser on a financial transaction involving payments to several counterparties.
Issues
Sustainability of cash flows and correct accounting treatment of the payments.
Outcome
Analysis of cash flows and accounting treatment; ongoing engagement.

Due diligence

Role
Financial due diligence on acquisitions, at an international audit firm.
Issues
Seller’s numbers to be verified before signing.
Outcome
Issues identified and impact on price, across all sectors.

Real professional experience, described without any data that would identify clients or transactions.

First step

Request a sale readiness review

Indicative value, due diligence issues and work to complete before going to market, with a written outcome.

Request a sale readiness review →