The document outlines the seven phases of the acquisition process on the buy side: 1) formulation of strategy and deciding on process, 2) preparation of acquisition and searching for targets, 3) preliminary target valuation and indicative offer, 4) due diligence and binding offer, 5) negotiations, 6) confirmative due diligence and contract closing, and 7) integration of the acquired business. A financial advisor can assist a company through each phase of the process.
The document outlines the seven phases of the acquisition process on the buy side: 1) formulation of strategy and deciding on process, 2) preparation of acquisition and searching for targets, 3) preliminary target valuation and indicative offer, 4) due diligence and binding offer, 5) negotiations, 6) confirmative due diligence and contract closing, and 7) integration of the acquired business. A financial advisor can assist a company through each phase of the process.
The document outlines the seven phases of the acquisition process on the buy side: 1) formulation of strategy and deciding on process, 2) preparation of acquisition and searching for targets, 3) preliminary target valuation and indicative offer, 4) due diligence and binding offer, 5) negotiations, 6) confirmative due diligence and contract closing, and 7) integration of the acquired business. A financial advisor can assist a company through each phase of the process.
The document outlines the seven phases of the acquisition process on the buy side: 1) formulation of strategy and deciding on process, 2) preparation of acquisition and searching for targets, 3) preliminary target valuation and indicative offer, 4) due diligence and binding offer, 5) negotiations, 6) confirmative due diligence and contract closing, and 7) integration of the acquired business. A financial advisor can assist a company through each phase of the process.
Phase 1: Formulation of strategy and decision on process Phase 2: Preparation of acquisition and search for targets Phase 3: Preliminary target valuation and indicative offer Phase 4: Due diligence and binding offer Phase 5: Negotiations Phase 6: Confirmative due diligence and contract closing Phase 7: Integration of the acquired business
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Scope and approach
You are considering acquisitions as a means in your companys current and future growth strategy. In supporting you, a financial adviser can help you in different aspects of the acquisition process. He can assist you amongst other with: introductions, collection of information, evaluation of targets, bid strategy, negotiation and more specifically with the global coordination of the transaction. The results of his discussions and analysis will be presented to you by means of a presentation report in the English language after each important stage in the process.
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Buy Side Process
What are the key stages of the acquisition process?
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Formulation of strategy and decision on process
Your acquisition strategy will, in close cooperation with you, be translated in a search strategy in order to allow an efficient screening of the market concerned. An important aspect of the search strategy is your determination of the target criteria. Set scope and boundaries of the transaction
Plan and decide acquisition
strategy and timing
Understanding of acquisition need
Understanding of impact on the company Identification of acquisition criteria based
on client objectives Agreement on relevant target sectors Agreement on relevant prices / size
parameters Discussion on acceptable acquisition
structure Clarification of preliminary tax and legal
issues
Corporate strategy
Preparation Indicative of offer acquisition
Binding offer
Negotiations
Contract closing
Integration of the acquired business
Steering of the project
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Preparation of acquisition and search targets
A financial adviser will analyze the Belgian market for you and this initial study will allow the identification of targets that meet as much as possible your criteria. The study will provide you, besides information on possible targets, with an initial understanding of the Belgian market, indicating market shares, evolutions, trends, Belgian requirements etc. Your financial adviser will contact the identified targets (initially in a no-name basis) and verify the interest in a possible sale of activities or shares. Identification of potential target companies
Contact programme
Identify potential targets
Preparation of buyer teaser
Develop long list
Issue short listed targets with teaser documents
Present long list and rank targets
Anonymous contact programme with the owners
(is there a fit?)
of the agreed target companies
Selection of potential targets with
Assessment of targets with regard to possible
regard to contact programme
short list
disposal Finding out concerns of the target management
Agreement on short list
/ shareholders for potential disposal
Agreement on strategy for contact
Client involvement in discussions (if desired)
programme
Draft revised short list of targets
Agreement on form of
Agree revised short list
documentation and reporting
Corporate strategy
Preparation Indicative of offer acquisition
Binding offer
Negotiations
Contract closing
Integration of the acquired business
Steering of the project
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Preliminary target valuation and indicative offer
Before formulating a first offer, thorough analysis will have to take place. Your financial adviser will assist you in this phase, in close cooperation with your internal services, with the drafting of an initial and limited information request. The information made available will be analyzed and supplemented with information publicly available (annual accounts, press releases, other public information,). Subsequently we will help you in the formulation of the first offer. Based on this first bid, the vendor will decide whether you will be invited to the negotiation phase, where ample information will have to be given by the vendor. Preparation of indicative offer
Analyze financing requirements
Initial meeting with target
Result of indicative offer
Analysis of the amounts and timing
companies
of financing needed
Draft of an initial and limited
information request and send out
Analysis the information made
available / publicly available
Advise as to pricing approach and
Indicative offer to target
Decision by Target whether to invite
Analysis of the types of financing
to second phase and communication
possible / guarantees to be given
Coordination of the specialist
services provided for tax / legal
optimization
further steps Formulate indication of value range Consideration of tactics regarding
targets acceptance of transaction
Legal strategy
Corporate strategy
Tax strategy
Preparation Indicative of offer acquisition
Binding offer
Negotiations
Contract closing
Integration of the acquired business
Steering of the project
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Due diligence and binding offer
In this phase, your financial adviser will assist you in gathering as much information as possible on the target. This information will subsequently be used in the negotiation with the vendor, aiming at realizing the acquisition at the best possible conditions. Management presentation / site visits
implications of the results of the due diligence analysis
Corporate strategy
Preparation Indicative of offer acquisition
Binding offer
Negotiations
Contract closing
Integration of the acquired business
Steering of the project
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Negotiations During the negotiations with the shareholder of the company and his advisors, your financial adviser will assist you with the aim to realize the acquisition at the best possible conditions. In close cooperation with your internal services and with the other advisors to the deal, he will assist you in:
Negotiations Coordination of all parties involved in the transaction (e.g.
lawyers, accountants) Identify and anticipate problems Advice on alternative transaction structures if required Negotiation with target Continuing alignment of draft documents Clarification of legal issues brought up during negotiations Management of negotiations through closing Clearance of transaction with target Signing of SPA
Corporate strategy
Preparation Indicative of offer acquisition
Binding offer
Negotiations
Contract closing
Integration of the acquired business
Steering of the project
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Confirmative due diligence and contract closing
Filing of transaction with antitrust commission
Confirmation due diligence
Finalisation of legal documents
Solving due diligence issues
Completion
The confirmative
due diligence work
through to the closing of the contract will be coordinated by your financial adviser, in close cooperation with your internal services.
Corporate strategy
Preparation Indicative of offer acquisition
Binding offer
Negotiations
Contract closing
Integration of the acquired business
Steering of the project
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Integration of the acquired business
During this phase, you will perform the integration of the acquired business into the operational structure. The assistance given by your financial adviser will consist of giving an overview of the issues and information gathered in the acquisition process that can help you in the integration of the acquired targets.
Corporate strategy
Preparation Indicative of offer acquisition
Binding offer
Negotiations
Contract closing
Integration of the acquired business
Steering of the project
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Syncap Management gmbh, member of Clairfield Partners
