Our client operates in an industry that is experiencing strong growth due to global themes. The industry has historically been highly fragmented. Consolidation was a logical next step.

Being aware that he may have something valuable, shortly after becoming a client of our accounting and tax division, the client engaged a large global accounting firm to seek buyers for the business. That firm identified a local private equity firm who proposed a deal that ultimately proved unworkable. The deal did not proceed.

Soon after, the client was approached by a global consolidator. BridgePoint Group Transaction Advisory was engaged to assist the client to sell the business.  Our role included:

Curation of documents for inclusion in the data room
Creation of forecasts
Advice regarding deal structure
Advice regarding deal terms
Advice regarding negotiating positions
Commercial review of legal documents
Liaising closely with the client’s legal team

BridgePoint Group Accounting was also engaged to provide the following related services, once again proving the value of our multi-disciplinary approach:

Advice regarding the tax consequences of the various deal structures being considered
Accounting advice including application and effect of various accounting standards
CFO services including the analysis of financial performance and forecast performance
Corporate secretarial services to give effect to changes to the group structure, directorship, shareholding and to otherwise prepare for the change of ownership.

The deal proceeded as a sale of shares incorporating an earn-out with potential upside linked to group performance. Estimated deal value – up to €100m in cash and shares.

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Mitchell Turnbull
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