Transactions & capital
This ambition is based on:
- our access to dedicated professionals with proven experience of working on demanding projects carried out in complex environments;
- our ability to allocate senior consultants to matters and ensure the close involvement of partners to provide you with real expertise and the appropriate people for the engagement;
- our ability to employ a methodology drawn from best practices, and adapting it to the specific circumstances of each situation;
- to the extent necessary, complementary expertise available in the teams of Advolis Orfis (information systems, audit, accounting expertise, etc.);
- our ability to interact in a constructive and respectful manner, always in the interests of the transaction with the various project participants (managements, project teams, lawyers, investment banks, etc.).
Our role is to understand your business and to use our financial expertise to benefit your project. For us, each transaction is unique and deserves our commitment. The multidisciplinary nature of our teams covers a broad range of areas and needs that arise as a result of such changes, both upstream (diagnostic and recommendation phases) and downstream (implementation and monitoring) of these processes.
Transaction services - Auditing - Independent appraisals
Corporate Finance - Restructuring
Hugues DE NORAY
Valuation - Independent appraisals - Auditing
Transaction services- Valuation - Restructuring
Supporting our clients in:
Transactional environments face a number of challenges which, in addition to techniques and good practices, require considerable experience and need to be appropriate to the business context and to the people involved, who are always different.
The multidisciplinary nature of our teams and the experience of our partners, who are fully involved in working on engagements, means that Advolis Orfis is ideally positioned to carry out such work.
- Work on disposals or acquisitions of French or international small caps and mid-caps
- Capital reorganisations, fund-raising
- BP modelling, comparative IRR analysis
- Statement of financial needs, summary presentation of financial balances
- Financial engineering
- Assistance in banking (re)negotiations (financing arrangements, improvements to/critical review of BP, relationships with banks, etc.)
Investing in, acquiring or selling a business comes with risks and presents major challenges that require a multidisciplinary approach that is able to ensure that the transaction is securely completed.
Our work is carried out before, during or after company transactions or financing operations.
To enable you to make decisions in full knowledge of the facts, our expertise combines a shared understanding of the specific nature of business lines, challenges/economic models and their translation into financial terms:
- Due diligence on acquisitions or disposals: audit of historic and normative performance, cash flow analysis (working capital requirements, normative cash flows, net debt, normative financing structure, etc.), critical review of forecasts and forward-looking information, etc.
- Assistance with negotiations: identification of negotiating levers, pricing, warranties, agreements, etc.
- Post-transaction monitoring: integration of the target company into the acquiring group, management of post-acquisition situations (optimal integration of the target, review of price adjustment clauses)
The work of the Transactions Services team at Advolis Orfis is distinguished by its business-specific approach:
- accounting and financial data is used to understand the economic situation;
- the search for an analytical view of performance is enhanced by the rationalisation of cash flows;
- active engagement with its clients combined with a requirement to provide an independent professional opinion.
In addition to implementing valuation “techniques”, an appropriate valuation must fully take account of the context in which it is produced.
Our experience makes it perfectly positioned to support you in a wide variety of scenarios:
- Calculation of transaction values (on acquisitions or sales);
- Purchase price allocations;
- Impairment tests (under French standards and IFRS);
- Valuations of financial instruments: FCPEs (company mutual funds), issuances of capital instruments (preference shares, warrants, management packages, etc.) and debt instruments (bonds repayable in shares, employee benefits, etc.);
- Independent expert appraisals on market transactions regulated by the AMF (public buyout offers, takeover bids, simplified takeover bids, etc.) or for governing bodies (board of directors, etc.) where potential conflicts of interest are identified (business law, AIFM regulations, etc.);
- Valuation of individual assets, business branches, trademarks, goodwill, etc.
The team at Advolis Orfis has the tools and financial databases to carry out such work on a fully independent basis. It regularly compares its practice at meetings of professional valuers’ associations such as SFEV, A3E or APEI.
In anticipation or as a reactive measure, managers are sometimes exposed to situations that are extremely difficult and complex that require them to make business-changing decisions that fall outside normal management of their businesses. These situations paradoxically require an exceptional commitment of resources of all kinds, at a time when financial resources are generally lacking. At such times, a team with all the skills required to find a solution, in a variety of areas (finance, legal, organisational, etc.) needs to be very quickly put together, in project mode, within the very specific environment, to manage these processes, whether they are voluntary or court-ordered.
Advolis Orfis’s multidisciplinary nature, which allows it to cover a large proportion of the required areas, together with the experience it has gained in a large variety of situations, mean that it is well positioned to carry out engagements of this type:
- Assistance in drawing up and implementing voluntary or court-ordered restructuring plans
- Support with preventive approaches (mandat ad hoc (special mediation), safeguarding procedures) or preparing for court-supervised receivership, etc.
- Assistance for businesses in managing breakthrough or crisis phases,