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Introduction
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Agenda 1. Introduction Van Oers Corporate Finance Organisation
Corporate Finance team Services International presence Focus Approach 2. Tombstones 3. Sale Process Bird’s eye view
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Agenda 4. Identify potential buyers Bird’s eye view Sources
Type of buyers Strategic buyer Set up longlist Set up shortlist Contact
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1 Introduction Van Oers Corporate Finance B.V.
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Introduction Organisation 11 corporate finance specialists
Specialises in business valuation, finance raising, due diligence, acquisition and disposals, management buy outs, management buy ins, deal structuring Member of: NIRV, Dutch Association of Registered Valuators DCFA, Dutch Corporate Finance Association VFOS, Association of Mergers and Acquisition Specialists Related to Van Oers Accountants and Tax Consultants, one of the largest providers of business services in the South of the Netherlands Listing sponsor Alternext
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Introductie The corporate finance team Drs. Sander Collé
Partner Corporate Finance John Knevels RV FB Partner Corporate Finance Alexander den Boer Manager Corporate Finance Mob: Mob: Mob: Drs. Sander Voesten Advisor Corporate Finance Drs. Harko Buringh Advisor Corporate Finance Drs. Thijs Kleijwegt Advisor Corporate Finance Drs. Ivo van der Smissen Advisor Corporate Finance Mr. Sven Verbruggen M&A Tax Advisor Mr. Gijs Vernoij M&A Tax Advisor René Rademakers RA Partner Due Diligence Ralf Jacobs Manager Due Diligence
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Introduction Services Sale Acquisition / MBO / MBI Raising finance
Valuation Business valuation Preparation of prospectus Search for potential buyers Coordination of (contract) negotiations Preparation of contracts Search for potential candidates Valuation and feasibility Finance raising Coordination of Due Diligence Coordination of (contract) negotiations Preparation of contracts Bank Venture capitalists Informal investors IPO (Alternext) Regional development funds Acquisition and disposal Impairment testing/ feasibility studies Brand valuation Arbitration Fairness opinion
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Introduction International presence
Van Oers Corporate Finance is a member of the Leading Edge Alliance, an international network of high quality, independent accountancy and business services firms. This network allows Van Oers Corporate Finance to provide its services to clients across the world. offices 5-10 offices
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Introduction Focus SMEs 10 to 500 employees
Transactions ranging from € 1 to € 50 million Approach Clear, professional, but also close and personal Woking in teams Qualified specialists in the field of mergers and acquisitions; certified registered valuators, registered accountants, M&A tax specialist and specialists in business economics Extensive network of key personnel from banks, accountants, notaries, private equity firms and transaction lawyers.
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2 Tombstones
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Tombstones
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3 Sale Process
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Sale Process Preparation phase Sale phase Closing
Step 1: Determination of approach Step 2: Analyse object for sale Step 3: Perform valuation Step 4: Set up information memorandum Step 5: Identify potential buyers Step 6: Advise on price range Step 7: Approach and inform potential buyers Step 8: Judging of bids Step 9: Coordinate negotiations Step 10: Set up a Letter of intent Step 11: Set up dataroom Step 12: Coordination of due diligence Step 13: Coordinate contract negotiations Step 14: Closing
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4 Identify potential buyers
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Identify potential buyers
Sources Databases (REACH, Zephyr) Van Oers Corporate Finance buyers database (bank, informals, MBI kandidates, Venture capital) Van Oers network of colleague Corporate Finance offices Type of buyers Strategic buyer Financial buyer IPO Other (o.a. relative, employee)
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Value of synergetic effects Stand alone value target company
Identify potential buyers Strategic buyer A strategic buyer has the ability to create more synergy than a financial buyer and can therfore pay a higher P/E ratio. Strategic reasons for acquisitions include: Buying of know-how / technology Increase added value Buying of market share Increase buying power Save indirect costs Expand product portfolio / services Value of synergetic effects Integration costs Maximum Stand alone value target company Value Minimum
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Example Example Example
Identify potential buyers Set up longlist Category 1 Example Example Category 2 Category 3 Example
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Identify potential buyers
Set up shortlist Profiling of ideal candidate Type of buyer; size, strategy, governance, culture Product portfolio, quality, market share / position Financials Technology STRUCTURE SKILLS STRATEGY STYLE SYSTEMS SHARED VALUES STAFF Structure Strategy Systems Waarde Shared vaules Competence Style Staff
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Contact Van Oers Corporate Finance Ginnekenweg 145 4818 JD BREDA
Tel: Fax: Sander Collé Mob: Alexander den Boer Mob:
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