To sell a Company is an important decision, for this reason we help you understand how to deal with the buyer during a M&A process to close it successfully. Our goal is to sell your business at the best price with maximum value for your shareholders, employees, customers and suppliers.
We maximize the company value for your clients through an insistent marketing to potential buyers from all over the world. We create strong competition among potential buyers, which allow us to increase the company’s value.
We value company by its development track, but specially by its positioning and future. Although sometimes it is difficult to see, every company has a promising future, you just have to find the best way to achieve it. Our search of potential buyers is mainly focus on international markets, since these usually make a better valuation of the national companies because of the added value in a foreign market.
We are proactive. A proactive and personalized focus is essential for selling a company successfully. The good document and call presentation in front of each potential buyer to present the M&A opportunity professionally and skillfully is a strategy much more effective than any other type of communication. It is the same process that you apply to your own products or services, with all follow-up and necessary meetings to be able to turn it into success.
We create competition. Your company’s value will be maximized if you have several potential buyers competing to buy it. The competition not only improves the speed and terms of purchase and sale, but also avoids deadlocks in the negotiations, and ultimately it has a decisive impact on the sale or acquisition price.
Follow up and continuous support. In order to complete successfully the operations, we believe it is essential that our team is in charge of the entire process. It is important that the company continues with its activities as usual and the owner only gets involved in the key negotiations
We are aware that the M&A process are delicate both for the image of the company offering to current clients and suppliers, as well as for the negative effects on the internal organization. Our will is to execute the projects in the most confidential way.
We carry out an objective assessment of your company using various methods and taking into account market and sector trends. Buyers are generally looking for companies with a promising future. The present and the past are important, although both strategic and financial investors invest in companies with growth options so we support the realization of financial projections.
Identifying potential candidates is one of the most intense phases. We approach potential buyers directly, even those who are not initially looking to buy. We have an international and multisectorial network, with both sales and acquisitions figures that allows us to identify various stakeholders in the required sector. We also have close relationships with numerous investment banks and private equity firms.
We guarantee the confidentiality and discretion of the projects. Direct contact by the seller can lead to information leaks and lack of discretion. From the first contact with the market our methodology focuses on a safe and efficient management of all the information which guarantees that the process is developed successfully and responsibly.
Contact with our team
Last year, Chinese M&A market basically maintain the same level as 2017 with total transaction amount of 678 billion US dollars, according to the last report of PwC China.
The first half of 2018, China’s M&A market was quite active, mainly driven by megadeals, but the activities fell in the second half year.
Outbound M&A market
Suffered by the Sino-U.S. trade war and heightened CFIUS (The Committee on Foreign Investment in the United States) scrutiny, China’s outbound M&A volume in 2018 had a decline of 23% according to the 2019 Global M&A Outlook from JP Morgan. Despite this decrease, 2018 China outbound M&A volume was still roughly one-third higher than the levels before the 2016 peak in terms of total deal values.
In spite of the commercial tensions between the US and China, as well as some divestments from European or North American companies, China continues to consolidate the geographic and sectorial diversification policy for overseas investment.
Moderation in China’s economic growth continues to drive the need to identify attractive growth opportunities aboard. Reasonably abundant capital availability and financing alternatives still enable Chinese acquirer to have strong purchasing power. Many large-scale outbound transactions happened in 2018, including ANTA Sports’ proposed $6.4 billion acquisition of Amer Sports.
Even with capital control and measures to curb “irrational” outbound investments, the Chinese government continues to support strategic outbound investments. Enterprise Outbound Investment Regulations (“Order No.11”) enacted by NDRC (National Development and R took effect in March 2018, simplifying and formalizing administrative procedures for outbound investments, potentially shortening review cycle time.
Inbound M&A market
On the other hand, China inbound M&A had a year-over-year increase of 2% in 2018. China has been demonstrating its continued willingness to gradually open its market to foreign investors, as evidenced by the release in June 2018 of a new Negative List and associated measures to remove restrictions on foreign investors.
Chinese M&A in Spain
Spain was the sixth preferred European country for the Chinese investors in 2018 according to the report of Baker McKenzie. The investments in Spain have reached to 1,179 million dollars, which means an increase of 162% comparing to 2017.
Last year, large M&A deals happened in Spain, China also contributed one of them. The acquisition of 53.5% shares of Imagina Media by Orient Hontai Capital was the fifth large investment from China in Europe.
According to Baker McKenzie, the Chinese investor’s appetite has increased notably in Spain, Sweden, Canada, Germany and France in relevant sectors with high added value.
Trends for China M&A in 2019
On the background of the stability of yuan and the irreversible trend of cross-border cooperation, it expects several possible trends for China outbound M&A in 2019:
Las estadísticas de satisfacción en proyectos de M&A a nivel global no son tan positivas como muchos ejecutivos creen; un alto porcentaje de proyectos llegan a su fin pero se estima que solo el 50% de los proyectos llegan a conseguir el valor añadido planteado inicialmente. Esta baja satisfacción viene provocada por tres problemas básicos:
Mala Lógica. Acuerdo basado en una inapropiada motivación para desarrollar el proceso de M&A.
Mal Acuerdo. Estructura errónea del acuerdo, valoración incorrecta de la empresa o un mal proceso de Diu Diligencie.
Mala implementación. La implementación post-adquisición no logra alcanzar los beneficios esperados. Deficitario o inexistencia de un plan post-adquisición.
Centrémonos en el primer problema: la lógica en los procesos de M&A. Una lógica débil o poco coherente suele comportar una mala gestión del proceso y sobre todo un fracaso en el momento de realizar la implementación.
Existen principalmente tres ‘lógicas’ cuando planteamos un M&A
Lógica de negocio.
Las empresas que establecen su estrategia de expansión en una lógica inversorasuelen ser empresas que buscan comprar empresas con un valor latente inferior al esperado y normalmente con el objetivo de revenderlo en el corto plazo y asegurarse de esta manera un beneficio puramente económico.
Podemos encontrar también en esta lógica empresas que forman parte de una economía con la moneda sobre valorada y aprovechan la circunstancia para comprar por debajo del valor esperado.
Encontramos algunas adquisiciones que simplemente compran algo más que dinero, en algunos casos directivos ambiciosos, fuerzan a sus empresas a comprar acciones en otras empresas a cambio de tener un sitio en el consejo de dirección. Incluso a veces el objetivo no es la empresa por si misma, sino por ejemplo sus inmuebles y su potencial valor de futuro.
Por otro lado, pero también centrándonos en una lógica más financiera, encontramos empresas que basan sus estrategias de M&A en la adquisición de compañías que puedan aportar valor añadido a la estructura financiera de la compañía vía, entre otros:
Las empresas que basan su estrategia de expansión en la lógica financiera, aunque no exclusivamente, por lo general lo que buscan es aportar de forma rápida más valor a los accionistas de su empresa.
Por último y como ya sabemos existen distintas fórmulas de crecimiento empresarial, de forma resumida, destacamos tres de ellas: desarrollo de nuevos mercados, desarrollo de nuevos productos y diversificación de productos similares.
Cualquiera de estas estrategias se puede realizar de una forma orgánica o de una forma inorgánica, es decir, vía adquisición o fusión con otras empresas. Estaríamos hablando de un proceso de M&A desde una lógica de negocio.