06Apr
A look at global M&A activity in the renewable power and energy efficiency sectors.
Some of the key findings:
- More deals, but with smaller values
- Solar deal value vs. wind deal value: solar is gatching up on wind and they both have now just under a third share of all renewables deals
- Utilities companies are no longer the biggest buyers of renewables assets
- Chinese renewables companies are looking at major expansion with a series of IPOs on the Hong Kong stock exchange
Read the report: Renewables deals
Tags: deals, energy, renewables
23Mar
Capital investments in clean energy and clean technology have been growing steadily over the past years and are expected to do so in the foreseeable future. We see a new trend where financial investors set up dedicated funds investing in, amongst others, renewable energies such as solar and wind.
Find out more on the views of Steven De Tollenaere, CEO of Enfinity Group. M&A Academy_Enfinity
Tags: clean technology, Cleantech, financial investors, Investors, M&A Academy, renewable energy
16Feb
Simon Boadle, Head of Debt Advisory, said “Though 2010 was not without significant hurdles including the euro-zone debt crisis, the debt markets found a path through to post a strong year with a robust pipeline entering Q1 2011.”
The high yield market continued to lead the way with record issuance driven by investor demand for yield and borrowers need to refinance debt. The leveraged loan market witnessed a strong recovery; however, the bulk of loan issuance has been used to refinance existing debt rather than to support M&A activity.
Refinancing was a principal driver of activity in the corporate loan market. Leveraged and corporate loan market participants are hopeful of increased M&A activity in 2011 as cash rich corporate borrowers and private equity houses take advantage of more buoyant debt markets and the improved global macro environment.
The sheer volume of borrowers needing to refinance in the coming years suggests that companies should begin to plan their refinancing strategy now. The more highly leveraged companies need to consider how they can reduce their debt to levels capable of being refinanced in the current market.
For more info, check the latest Debt Market Update Q1 2011
Tags: debt, Debt Markets, M&A
27Jan
In the acquisition of a business, working capital can be a significant element of the overall purchase price.
However, often even sophisticated buyers do not spend the appropriate time assessing the working capital optimisation potential.
This, despite the fact that depending on the business sector, working capital can tie up a significant level of cash. Once operational efficiencies have been achieved, the cash released can be used to reduce the financing risk.
Download the presentation Presentation_M&A Academy_January 2011_Working capital optimisation
07Jan
If your company is confronted with:
You may be interested to learn more about some of the following client success stories which we are glad to share with you:
Tags: client success story
08Dec
We are pleased to present you the Belgian results of the ‘Family Business Survey 2010‘, which aims to familiarise you with some of the typical issues and challenges that family business owners are facing today and how they are preparing for the future.
Our national survey was based on an international survey and so useful comparisons with the international scene could be made. 579 Belgian family-owned businesses participated to this study that was realised in cooperation with Trends Top.
Read the key findings: Executive Summary_DUTCH - Executive Summary_FRENCH
Read the full report: PwC Family Business Survey_DUTCH - Family business report_FRENCH
Read the international report: International Family Business Survey
Tags: acquisition, family business
01Dec
When a buyer needs to determine the purchase price of a target company, our experience teaches us that the real estate portfolio and its valuation do not always get the proper attention in order for the purchaser to bring out a competitive bid offer.
Indeed, do you make a distinction between gross market value, net investment value, fair market value, operational value (assessment of worth)? And what is the relevance?
Moreover, real estate can also be looked at from a carbon footprint, energy use and sustainability point of view and become the image of your Corporate Social Responsibility.
Download the presentation here! M&A Academy_What are real estate assets really worth_1 Dec 2010
Tags: Investments, M&A Academy, real estate, real estate assets
25Nov
European Financial Services – M&A news and views: new perspectives on the recent trends and future developments in the M&A market, including analysis of the latest transactions and insights into emerging investment opportunities.
Read, amongst other things, how to develop a successful Middle Eastern strategy and how to buy into Turkey’s sustained growth.
Download this publication here! european-fs-ma-nov-10
Tags: deals, emerging markets, financial services, investment opportunities, Investments
25Nov
Selling a business can be the most important deal of an entrepreneur’s career with far-reaching financial and emotional consequences. Most of the time, the seller is in the unique position to prepare and plan well before any information about a potential sale is known in the market. Regardless the size or turnover of the business, there are a number of steps that can be taken to maximise the sales value. In addition to financial performance, there are a couple of other factors that can enhance but also destroy the value of the business.
How to uncover such issues prior to the sale of your company and how to negotiate remaining risks with prospective buyers? How to control and accelerate the process? Will I optimise the sale of the non-core part of my business through a carve-out or through the sale of existing entities?
Find out by downloading the presentation here! M&A_9 November 2010_BLOG
Tags: acquisition, deals, sale, selling
22Oct
Despite previous uncertainty in the debt markets, Central Banks continue to be proactive to limit the chances of a double dip recession. The UK corporate loan market was lifted by the return of large cap M&A, with banks providing strong support for BHP Billiton’s bid for Potash Corp through a US$45 billion loan facility. Strong, positive momentum in the leveraged market during September bodes well for the remainder of the year.
Competition from the bond market is pushing up total debt multiples, in some cases to over 5x, whereas in the mid market total leverage is typically up to 4.25x. The corporate bond markets rebounded after the short lull in Q2 and our view is that the bond markets will continue to increase their overall share of financing activity.
In contrast to these buoyant levels and the recovery in leveraged finance, other credit markets are more subdued. This issue has a special focus on Project and Infrastructure Finance where despite a long-term need for infrastructure projects, demand for new finance has been dampened in the short-term.
Simon Boadle, Head of Debt Advisory, said “Despite specific issues in certain sectors, sentiment in the credit markets has generally improved and the short term outlook for the availability of debt finance is positive.”
For more details, check out the latest Debt Markets update from our UK colleagues - Debt Markets Update Autumn 2010
Tags: debt, leveraged finance, M&A
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