Considering succession planning or selling your dealership?
|
|
- Kristopher Byrd
- 8 years ago
- Views:
Transcription
1 Deals Considering succession planning or selling your dealership? Our trusted advisors will help you achieve success on your terms
2 M&A spotlight: Driving for change Future outlook for the Canadian auto dealership industry Performance of dealerships has shown strong improvement as the market has recovered to pre-recession level. Damian Peluso Partner, PwC Automotive Leader 2 Achieving M&A success in Canada s auto dealership industry There s a lot of positivity within the Canadian auto dealership industry, which should come as no surprise given record sales that were almost unimaginable a few short years ago. According to the Canadian Automobile Dealers Association (CADA), April new vehicle sales were up 5.7 percent to record an all-time best April in the history of the Canadian industry. That s not to say dealerships in Canada don t have their challenges. The need to meet increasingly stringent OEM standards and guidelines is having a major impact, especially on smaller dealerships in Canada. With a large number of owners at the age where retirement is starting to factor into their decision making, there s also the challenge of figuring out their succession plan or sales strategy. We believe these issues are poised to significantly change the dynamic of the auto dealership industry over the next few years. While distinct, the issues of capitalization and succession will likely drive increased M&A activity as owners look to sell. And, with over 3,200 automotive dealers in Canada, there is little doubt that industry consolidation offers significant opportunities for investors. Growing sophistication of OEM standards When it comes to the requirements for doing business, dealership costs keep getting higher. The capital costs to be in the business keep increasing, explains Damian Peluso, Partner, PwC Automotive Leader. As OEMs grow more sophisticated, brand and other standards become tougher. Every few years, an OEM comes to you and tells you they want to restyle the face of the building, or resurface the parking lot, or change the showroom, explains Allen Baker, a PwC Partner specializing in Private Company Services, who has worked with a number of Canadian dealerships. Such costs might not be a major issue for larger dealerships or dealership groups but for smaller ones, the need to make significant capital investments to address OEM demands on a regular basis can be challenging. That s why, as OEM guidelines and standards grow more complex and sophisticated, they will likely drive further M&A in the industry. For dealers that don t have access to the capital needed to meet changing standards, selling the business to an investor or dealership group with more capital may be the most viable option. Owners have to invest in complying with OEM brand standards, adds Eric Castonguay, Leader of PwC s Transportation and Logistics group. Or, when they sell, the new owner will need to commit to making the investments.
3 Managing succession For some dealerships, the need to make capital investments to address OEM requirements adds a second layer of complexity to an already challenging issue: succession planning. For owners who have built their dealership or dealership group up over twenty, thirty, or forty years, it can be difficult to think about succession. But without a plan in place, owners may not be able to achieve the outcome they desire. A lot of people [owners] aren t ready. They don t have the appropriate tax planning in place, whether from a corporate perspective or even a personal one, such as having a will, Peluso says. That s where most need to start. At the same time, any successor needs to be able to give the OEM confidence that the dealership will continue to be effective and will be able to operate within the standards and guidelines including making any required capital investments, if needed, once they take ownership. But when it comes to the OEM, there s no guarantee they will approve him or her, says Baker. OEMs have rejected succession plans from dealers because those new dealer principal candidates weren t appropriate. That s one of the reasons advance planning is so critical. It gives the owner time to build OEM confidence in the succession plan and for any successor to begin developing the appropriate relationships. In cases where members of the owner s family are not interested in taking ownership of the dealership, owners need to be far more proactive about sales opportunities. The challenge is that most dealerships are not ready for sale, which makes it harder for owners to get the price they believe their dealership is worth. The way a buyer will look at a company may be different than how they [the dealership] currently reports things, explains Castonguay. The reconciliation between what is reported and what the buyer wants to see is very important. For example, buyers will typically want to examine different revenue streams (e.g. new car sales, used car sales, body shop, service, financing and insurance). With blue sky multiples near all-time highs, dealers may be more open to considering a sale if the price is right. Private dealerships have been observed to sell for as much as 9.0X EBITDA based on brand and overall dealer performance PricewaterhouseCoopers LLP 3
4 Taking advantage of M&A opportunities Looking to the future, there s little doubt that M&A activity will continue to rise in the auto dealership industry presenting opportunities for both buyers and sellers. Larger groups will continue to be the most active, Peluso believes. They will grow in size. Groups that currently have 10 to 15 dealerships might grow to 20 or 25. There will also likely be growth in the number of public companies involved in the ownership of auto dealerships. The increasing prevalence of larger dealer groups is being driven by industry dynamics, states Castonguay. Many of these larger groups use M&A as a tool to strengthen their businesses, achieving back-office synergies, OEM diversification and geographic diversification. In fact, we believe that some of the consolidation will likely be driven by public companies. While Auto Canada is the only public company owner of multiple brand dealerships in Canada at present, it has been very successful paving the way for others. There s a lot of room and appetite from institutional investors in replicating Auto Canada s success, explains Castonguay. Moving ahead Given increasing investor interest and a relatively stable market outlook, there s no time like the present to consider possible M&A transactions whether as a buyer or a seller. The key is making sure that any transaction is well positioned to help you achieve your desired outcomes. As a dealer, this means avoiding surprises by doing your due diligence to prepare your business for sale, understanding who your potential buyers are, having a management succession plan, and doing the appropriate work needed to give the OEM confidence in your plan. This means doing your proper due diligence to identify the most attractive targets that can help you achieve your desired return, and making sure you have a plan in place that will drive OEM confidence so that you can move forward with their full support. 4 Achieving M&A success in Canada s auto dealership industry
5 Adding value in the M&A process We appreciate that running your dealership is your top priority. Count on our professionals to keep your M&A process moving forward, with minimal disruption. Our professional services can help you successfully sell your dealership by realizing full blue sky multiples, minimizing money left on the table, and maximizing your after-tax proceeds. We will work with you to provide a tailored solution that fits your direct needs. Below is a description of the specific actions we will take in each of the three key phases of your M&A transaction. Phase 1 (4-6 weeks) Phase 2 (12-16 weeks) Phase 3 (8-12 weeks) Transaction Preparation Work together with the company s management to execute the agreed transaction strategy Identify revenue enhancement opportunities to potentially increase valuation: Perform preliminary screening & profiling of potential buyers; Assess expected value ranges for all parties involved Provide preliminary tax planning and advice Identify optimal transaction options Apply our extensive specialized experience in dealing with OEMs, in preparation for a sale, including: Draft letters of approval to OEMs (prior to the transaction) Negotiate long-term leases with tenants; Work with you to prepare the Company in anticipation of a transaction that include: Financial preparation Organizational structuring Transaction Execution Develop marketing materials and provide other services that require minimal involvement on your part, so you can continue running your dealership at full capacity: Prepare a no-names teaser to show to potential buyers (this will preserve your confidentiality) Contact qualified potential purchasers on your behalf Solicit expressions of interest in your business Gauge potential market interest from confidential discussions with potential buyers Coordinate the due diligence process Develop a competitive bidding process to maximize opportunities and create tension amongst potential buyers. This will be achieved through our extensive relationships with: OEM manufacturers Prospective buyers Global networks of car specialists; and Through our strong experience with divestitures of car dealerships Act as the intermediary between the company and potential purchasers during the due diligence process, and will control all communication to potential transacting parties. Structuring This will reduce your time commitment to the transaction and Closing will allow you to run your dealership as usual Manage additional internal and external resources including lawyers, accountants and consultants Collaborate with you to negotiate the sales purchase agreement to maximize the dealership s value and your after tax proceeds Work alongside management until the close of the transaction to ensure all of your needs are met and there is no money left on the table 2015 PricewaterhouseCoopers LLP 5
6 How we can help Our experience helping privately held business owners develop and implement effective exit strategies has shown us that every situation is unique the optimal solution for you may be quite different from that of other owners. But there is one golden rule: a successful outcome always depends on a carefully planned and executed exit strategy. We re ready to help you achieve deal success, from concept to close, and beyond. PricewaterhouseCoopers Corporate Finance Inc. ( PwCCF ), a PwC subsidiary, specializes in divestitures, financing, mergers and acquisitions. Our professionals bring specialized knowledge and extensive experience in the automotive retail industry, throughout Canada and globally. We welcome your call. Our experience with PwC Corporate Finance has been positive. Their team brought structure, integrity and proven M&A experience to our transaction. We were impressed with their sale process, which created a competitive environment and clearly added value. Their hands-on approach throughout this complex process, industry expertise, and commitment to service and professionalism, proved invaluable in successfully completing our transaction. Russ Saladin Rick Hetherington and Melanie Doell, Ownership Group St. James Group of Companies 6 Achieving M&A success in Canada s auto dealership industry
7 Deep auto retail industry expertise Select recent transactions Canbec BMW Auto Canada Inc. Toyota Dealership in the GTA Ontario Based Honda Dealership St. James Group of Companies (Volkswagen and Audi Auto Dealership) Auto Canada Inc. Honda des Sources Dilawri Group Subaru des Sources Dilawri Group Markham Acura Dilawri Group Ford Dealership in the Praries Capital Automotive Group New Pacific Nissan Ltd. Applewood Auto Group Buy-Side Due Diligence Debt Advisory Services Nissan St. Leonard Quebec based Automotive Dealership Group Acura Metropolitan Quebec based Automotive Dealership Group Confidential Buyer in GTA for acquisition of Automotive Dealership and Significant Property in GTA Confidential Company in GTA to raise capital to Build multiple automotive dealerships Buyer advised Company advised Buy-Side Due Diligence Valuation Advisor Valuation Advisor Valuation Advisor Confidential Buyer in GTA for acquisition of Two Automotive Dealerships in GTA Confidential Dealership valuation for purposes of evaluating strategic alternatives Confidential Dealership valuation for purposes of a share purchase agreement in connection with a shareholder dispute Confidential Honda Dealership valuation for purposes of strategy formulation Buyer advised Company advised Company advised Company advised 2015 PricewaterhouseCoopers LLP 7
8 Contacts For more information, please contact your local Deals team Damiano Peluso Partner Eric Castonguay Partner Allen Baker Partner PricewaterhouseCoopers LLP, an Ontario limited liability partnership. All rights reserved. PwC refers to the Canadian member firm, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see for further details
Exiting your Business
Exiting your Business The material in this document is intended to provide only general information to Canadian Western Bank s clients and the public, and not for the purposes of providing professional
More informationDue Diligence investigations into practice
Due Diligence (eng) Due Diligence investigations into practice Introduction Due diligence investigations by Contzé & Partners are approached from a multidisciplinary perspective. Our partners are trained
More informationMergers & Acquisitions. Turnaround & Restructuring. Litigation Support & Expert Testimony. Valuation Services
Turnaround & Restructuring Litigation Support & Expert Testimony Mergers & Acquisitions Valuation Services Turnaround & Restructuring Turnaround & Restructuring Turnaround & Restructuring MCA Financial
More informationSELLING YOUR private BUSINESS
SELLING YOUR private BUSINESS BDO Canada Transaction Advisory Services Inc. A plan for success 2 Selling your business The decision to sell is a difficult one for any business owner. While it s natural
More informationCommercial Business Opportunity
COMMERCIAL BUSINESS OPPORTUNITY OFFERING MEMORANDUM 7341 ATOLL AVE NORTH HOLLYWOOD, CA 91605 PRESENTED BY: NICK ANANYAN 818-786-5511 and LIANA TAMAZYAN 818-415-6142 1 Page TABLE OF CONTENTS CONFIDENTIALITY
More informationCOMPREHENSIVE WEALTH MANAGEMENT
PRIVATE CLIENT TM COMPREHENSIVE WEALTH MANAGEMENT ASSANTE A OUR GOAL is to simplify and enhance the lives of our clients by serving as their financial advisor managing their assets and lifestyle needs
More informationHow To Work At Sensiba San Filippo Llp
M&A Practice Overview Build. Grow. Soar. www.ssfllp.com 925.271.8700 ABOUT SENSIBA SAN FILIPPO Sensiba San Filippo LLP (SSF) is a leading regional accounting, tax, and business-consulting firm focused
More informationVALUED REPRESENTATION When Selling a Business
VALUED REPRESENTATION When Selling a Business VR Has Sold More Businesses In The World Than Anyone. SELLING YOUR BUSINESS The entrepreneurial boom has changed the face of business around the globe. Today,
More informationTiming is Everything
Timing is Everything Understanding Multiples and Negotiating the Valuation Landscape By Paul Greenhow and David Townley Significant property and casualty insurance broker transactions have recently occurred,
More informationManaging your fleet car business
Managing your fleet car business TAKING THE STRESS OUT OF FLEET MANAGEMENT Kloster Group is proudly part of AP Eagers Group Ltd. WHAT WE OFFER 1 We provide a single point of contact to co-ordinate your
More informationDemystifying succession in a consulting engineering firm. Make transitioning your equity a smooth and painless process
Demystifying succession in a consulting engineering firm Make transitioning your equity a smooth and painless process CONTENTS Succession is a complex process... 4 Traditional succession plans they may
More informationJavita Car Bonus (Philippines) Program Guidelines
Javita Car Bonus (Philippines) Program Guidelines Program Overview The Javita Car Bonus Program is an incentive reward available to Members of Javita who meet the outlined criteria. A Member can participate
More informationMergers & acquisitions a snapshot Changing the way you think about tomorrow s deals
Mergers & acquisitions a snapshot Changing the way you think about tomorrow s deals Stay ahead of the accounting and reporting standards for M&A 1 June 10, 2015 What's inside Bankruptcy period considerations...
More information2. M&A Strategy : The Buy Side Process. www.clairfield.com
2. M&A Strategy : The Buy Side Process www.clairfield.com 2010 Contents Scope and approach a transaction The process on the buy side Phase 1: Formulation and decision on process Phase 2: and search for
More informationTransactions and Restructuring. kpmg.cz
Transactions and Restructuring kpmg.cz Contents Corporate Finance 08 Mergers, Acquisitions and Disposals 08 Valuations, Fairness Opinions and Appraisals 10 Financing 12 Debt Raising 13 Restructuring 14
More informationEXIT PLANNING & TRANSACTION ADVISORY SERVICES
EXIT PLANNING & TRANSACTION ADVISORY SERVICES One day you will sell your business. Are you ready? After dedicating yourself to building your business, you want to make sure all the hard work pays off when
More informationYour Guide to Business Transition Planning
Your Guide to Business Transition Planning Your Trusted Advisor For over 100 years, generations of Canadians have relied on the expertise of CIBC business advisors to manage their finances. Today, our
More information2014 Family Wealth Conference
2014 Family Wealth Conference James Bertram William Blair & Company Sarah Mercurio William Blair & Company Business Succession: Planning the Next Step for Your Most Valuable Asset Summary of Financial
More informationThe Role of the Financial Advisor in an M&A Transaction. Andrea Foti 23 November, 2015
The Role of the Financial Advisor in an M&A Transaction Andrea Foti 23 November, 2015 My background 1999 Investment Banking (Internship) Rome 2000 Degree in Business Rome 2000 Financial Institution Strategy
More informationThe M&A Process and the Role of a Financial Advisor
The M&A Process and the Role of a Financial Advisor My Background 1996 University of Florida undergrad with BS in Finance 1998 Geneva Companies / sub of Citigroup doing small M&A deals 1999 University
More informationCHARLES WAYNE PROPERTIES, INC.
CHARLES WAYNE PROPERTIES, INC. Office Retail Industrial Hotel Land SUMMARY Investment Sales Site Selection & Tenant Representation Leasing Advisory Services INVESTMENT SALES Charles Wayne Properties investment
More informationPremier Capital Advisors. Investment Banking Mergers & Acquisitions
Premier Capital Advisors Investment Banking Mergers & Acquisitions Premier Capital Advisors Profile Overview Operating Philosophy Overview Premier Capital Advisors (www.premcap.com) is a leading middle
More informationNorthStar Asset Management Group Inc. New York Office. Harness the Benefits of Real Estate Lending
NorthStar Asset Management Group Inc. New York Office Harness the Benefits of Real Estate Lending Forward Looking Statements This sales material includes forward-looking statements that can be identified
More informationPASSING THE TORCH. How to plan for a successful succession
PASSING THE TORCH How to plan for a successful succession KEY TAKEAWAYS Having a succession plan in place is vital to the ongoing success and potentially to the near-term growth of your practice. You can
More informationMeet challenges head on
Meet challenges head on Deal Advisory / Global We can help you master Financial Restructuring. Enhancing value through financial restructuring. / 1 Your vision. Our proven capabilities. Despite its challenges,
More informationChina Grand Auto: Partnering with SAP on a State-of-the-Art Platform for a Multibrand Dealer Group
2015 SAP SE or an SAP affiliate company. All rights reserved. China Grand Auto: Partnering with SAP on a State-of-the-Art Platform for a Multibrand Dealer Group Company China Grand Automotive Services
More informationMerger & Acquisition, Integration and Divestiture
Financial Services the way we do it Merger & Acquisition, Integration and Divestiture Financial institutions are re-focusing their M&A strategies and objectives while aligning their organizations to adapt
More informationScotiabank Comments on Department of Finance Consultation Paper. A proposal for stable, alternative indirect financing
Scotiabank Comments on Department of Finance Consultation Paper A proposal for stable, alternative indirect financing May 8, 2009 Introduction Scotiabank appreciates the opportunity to provide comments
More informationSecond Annual Conference September 16, 2015 to September 18, 2015 Chicago, IL
Second Annual Conference September 16, 2015 to September 18, 2015 Chicago, IL Mergers and Acquisitions Primer for Service Contract Providers Brian T. Casey, Esq. Partner, Co-Chair Regulatory & Transactions
More informationCalvin College Grand Rapids, Michigan B.A., Political Science, 1996. Grand Rapids, Michigan, 1999 Partner
Contact Information: Email: pgroth@varnumlaw.com Direct: 616/336-6429 Fax: 616/336-7000 Cell: 616/450-6443 Assistant: Kim DeBoer Assistant's Email: ksdeboer@varnumlaw.com Assistant's Telephone: 616/336-6700
More informationWhy High Value Vehicles NEED. Luxury Car Insurance
A PUBLICATION BY: GODFREY MORROW GODFREY INSURANCE MORROW AND INSURANCE FINANCIAL AND SERVICES FINANCIAL LTD. SERVICES LTD. 2012 Why High Value Vehicles NEED Luxury Car Insurance Not long ago the only
More informationBDO ALLIANCE USA PROGRAM BRINGING MORE TO CLIENTS
BDO ALLIANCE USA PROGRAM BRINGING MORE TO CLIENTS BDO Alliance USA WHAT IS THE BDO ALLIANCE USA? The BDO Alliance USA is a nationwide association of independently owned local and regional accounting, consulting
More informationLANE CAPITAL MARKETS. October 2010
October 2010 0 Table of Contents I. Investment Banking Expertise II. III. IV. The Equity Financing Process Credentials Sample Transactions Investment Banking Expertise Why is the right banker Recently,
More informationLaw Society of Upper Canada The Six-Minute Business Lawyer 2015
Law Society of Upper Canada The Six-Minute Business Lawyer 2015 Materials for a Presentation by Sandra Sbrocchi, McMillan LLP June 10, 2015 Written by Sandra Sbrocchi and Timothy Cullen, Student-at-law
More informationBusiness Succession Planning With ESOPs
acumen insight Business Succession Planning With ESOPs Presented by Alan Taylor, CPA Partner ideas attention reach expertise depth agility talent Disclaimer Information contained herein is of a general
More informationGOING PUBLIC IN CANADA
GOING PUBLIC IN CANADA CASSELS BROCK IN BRIEF Canadian law firm of more than 200 lawyers based in Toronto and Vancouver focused on serving the transaction, advocacy and advisory needs of the country s
More informationConquest Sales: Why Conquesting New Vehicle Sales is More Important Than Ever SOLD. www.lead2show.com
Conquest Sales: Why Conquesting New Vehicle Sales is More Important Than Ever SOLD www.lead2show.com OVERVIEW PART 1 Executive Summary 3 PART 2 Conquesting 4 PART 3 Conquesting Marketing Strategies 4-5
More informationCorporate Finance in the Automotive Arena. - Navigating the next decade. of auto industry transformation -
Corporate Finance in the Automotive Arena - Navigating the next decade of auto industry transformation - Jens Diehlmann Partner at IBM Global Business Services; Global Leader Captive Finance Agenda 1 Who
More informationInternational Business Strategy
International Business Strategy Executive Summary The Canadian automotive industry, and in particular the automotive component parts industry is part of the broader global industry. Canadian suppliers
More informationSTRATEGIC PLAN. Responsible Regulation in a Dynamic Environment
STRATEGIC PLAN Responsible Regulation in a Dynamic Environment Vision Framework MFDA Members and their Approved Persons provide the most accessible advice-driven distribution model to retail investors
More informationWestern Canada s Independent Corporate Finance Advisor
Western Canada s Independent Corporate Finance Advisor The road to a successful deal is paved with risk and opportunity. Our first piece of advice? 1 Don t go it alone. It is an understatement to say the
More informationFIVE REASONS YOU NEED TO KNOW WHAT YOUR BUSINESS IS WORTH WHITE PAPER
FIVE REASONS YOU NEED TO KNOW WHAT YOUR BUSINESS IS WORTH WHITE PAPER Few business owners relish spending money on something they don t need. And for most owners, hiring an expert to estimate the value
More informationClark Group Overview 2 Private Equity 4 Mergers & Acquisitions 6 Industry Specialism 8 Typical Engagement 10 Our Strengths 12
connected ventures content data commerce Clark Group Overview 2 Private Equity 4 Mergers & Acquisitions 6 Industry Specialism 8 Typical Engagement 10 Our Strengths 12 greencape Team 14 Contact Details
More informationSpecial Markets Solutions Dealer Services
Denis Ricard Executive Vice-President Business Development Special Markets Solutions Dealer Services Investor Day, June 11, 2014 1 Overview Industrial Alliance Individual Insurance Individual Wealth Management
More informationPreparing carve-out financial statements Navigating the financial reporting challenges
Preparing carve-out financial statements Navigating the financial reporting challenges February 2012 A publication from PwC's Deals practice At a glance Preparing carve-out financial statements can be
More informationInsights Spring 2009. ESOP Transaction Insights. Michael McGinley
56 ESOP Transaction Insights Selling an ESOP-Owned Employer Corporation Michael McGinley When a sponsor company establishes an employee stock ownership plan (ESOP), the initial plan is usually (1) that
More informationwdsinvest.com WEALTH MANAGEMENT
wdsinvest.com WEALTH MANAGEMENT IN THE 21 ST CENTURY Times have changed. Twenty years ago, institutional investors completely dominated the investment pie. Today, by far the biggest slice of that pie is
More informationAgreement to Acquire 100% Ownership of Protective Life Corporation
[Unofficial Translation] June 4, 2014 Koichiro Watanabe President and Representative Director The Dai-ichi Life Insurance Company, Limited Code: 8750 (TSE First section) Agreement to Acquire 100% Ownership
More informationLife & Protection. Scott Ham CEO. John Hunter COO. Analyst & Investor Conference
Life & Protection Scott Ham CEO John Hunter COO Analyst & Investor Conference New York City, December 2010 Key messages Grow profitable new sales Leverage expertise to increase recruiting and expand existing
More informationMarketing Software and Web Developer with Clients Nationwide
Marketing Software and Web Developer with Clients Nationwide This web-development, marketing, and software company, founded in 2000, has developed a loyal, long-term client base, who appreciates its excellent
More informationContent Marketing. for Car Dealers
BEGINNER S GUIDE TO Content Marketing for Car Dealers It s no surprise that today s consumers shop differently than they used to. In fact, studies show that 95% of shoppers use digital channels to research
More informationNow is the Time. Get Your Brokerage Sale Ready. By Eric Walker and David Townley.
Now is the Time Get Your Brokerage Sale Ready By Eric Walker and David Townley. In the 2000 edition of his national bestselling book Boom, Bust & Echo, David K. Foot declared that the passage of the boomers
More informationRelationships. Reputation. Results.
Relationships. Reputation. Results. A complete social marketing strategy. Content Syndication Perfect Prospect Technology Reputation Management Point of Sale Enterprise Reports Mobile Posting Review Generation
More informationHow to Maximize the Value When Selling Your Management Company
WHITE PAPER How to Maximize the Value When Selling Your Management Company INSIDE THIS REPORT Rational for Selling Management Company Valuation Acquisition Deal Structure Tips to Optimize Your Exit Value
More informationMergers & Acquisitions
Mergers & Acquisitions 2013 Program 1 st week Introduction M&A business Marked overview, Motivation doing a deal and Reasons of failing acquisitions Shareholder Value requirements and reality, Example
More informationFINANCIAL DUE DILIGENSE SERVICES
FINANCIAL DUE DILIGENSE SERVICES 2 BDO Kazakhstan OVERVIEW failed transaction or ill-researched business venture can be a costly scenario on many levels. Generally, Adue diligence refers to the care a
More informationNiche medical billing service with stable, reliable government clients
Niche medical billing service with stable, reliable government clients This 25+ year old company provides a narrow niche medical billing service that primarily serves city and county government agencies
More informationour business is growing yours
our business is growing yours ABOUT CBIZ n One of the nation s leading: Accounting Providers Employee Benefits Specialists Property & Casualty Agencies Valuation firms Medical Management Practice firms
More informationBusiness Owners Planning Guide. Your Name. Date Completed / Last Updated
Business Owners Planning Guide Your Name Date Completed / Last Updated Mark Halpern CFP, TEP Certified Financial Planner, Trust & Estate Practitioner INSURANCE, RETIREMENT & ESTATE PLANNING Suite 210,
More informationRenewable Energy M&A. TJP Advisory & Management Services GmbH
Renewable Energy M&A TJP Advisory & Management Services GmbH Process results Process results Process elements (weeks) Fund raising process 9 7 Structure Contact of potental Investors Letter of Intent Due
More informationA KEY PARTNER IN THE REALIZATION OF YOUR PROJECTS
A KEY PARTNER IN THE REALIZATION OF YOUR PROJECTS capitalization governance development A 360 vision FTM Synergis Capital is an investment banking institution dedicated to the small and medium sized enterprise
More informationSchroder Property Multi-let industrial estates: more than just your average manufacturer
Schroder Property Multi-let industrial estates: more than just your average manufacturer July 201 For professional investors and advisers only Introduction Eleanor Jukes, Senior Property Research Analyst
More informationMS&AD Insurance Group Holdings 2 nd Information Meeting of FY 2015 (Held on November 25, 2015) Q&A Session Summery
MS&AD Insurance Group Holdings 2 nd Information Meeting of FY 2015 (Held on November 25, 2015) Q&A Session Summery Below is a summery of Q&A session from the Information Meeting held on November 25, 2015
More informationGrooming Your Business for Sale
PRIVATE COMPANIES Grooming Your Business for Sale Plan for the Future but Be Prepared for the Unexpected KPMG ENTERPRISE 2 Grooming Your Business for Sale Grooming Your Business for Sale Plan for the Future
More informationBDO Financial Advisory Services Targeting our customer needs. BDO Financial Advisory Services 1
BDO Financial Advisory Services Targeting our customer needs BDO Financial Advisory Services 1 2 BDO Financial Advisory Services OUR PEOPLE EXPERIENCED PROFESSIONALS & RECOGNISED INDUSTRY LEADERS. BDO
More informationEntrepreneurs Assess Their M&A Options
2015 SURVEY RESULTS Entrepreneurs Assess Their M&A Options Research among business leaders reveals excitement about future transactions and positive outlook for near-term M&A. INTRODUCTION Creating value
More informationServices to Law Firms Working in Partnership With Others
Services to Law Firms Working in partnership with you Contents 3 3 3 5 5 7 7 7 9 9 9 9 About Begbies Traynor Group Why Work With Begbies Traynor Group? International Coverage Restructuring Corporate Insolvency
More informationChapter 2: Analyzing a Dealership s Financial Statements & Operations
Chapter 2: Analyzing a Dealership s Financial Statements & Operations To analyze a dealership s operations, a close look must be taken at the day to day operations as well as examining the dealership s
More informationBUSINESS SUCCESSION PLANNING
BUSINESS SUCCESSION PLANNING TABLE OF CONTENTS The planning, an essential step 3 Transfer of the business to a family member 4 Transfer of the business to a partner, the management team or employees 5
More information01/2014. HB&O Corporate Finance: for the business journey
01/2014 HB&O Corporate Finance: for the business journey HB&O Corporate Finance A business disposal, purchase, merger or management buyout is a significant development in the life of any enterprise. Many
More informationR.J. Augustine and Associates, Ltd., CPA s
R.J. Augustine and Associates, Ltd., CPA s Innovative Paths to Your Financial Future Success At R.J. Augustine, your success is our success. Understanding your business is our first priority, and we are
More informationThe Impact of Online Marketing in Automotive Retailing. Earl J. Hesterberg, President and CEO
The Impact of Online Marketing in Automotive Retailing Earl J. Hesterberg, President and CEO 1 Industry New Vehicle Sales Industry new vehicle sales 2 About Group 1 Automotive A Fortune 500 automotive
More informationPurchasing Real Estate in México by CARLOS SOLÓRZANo
Article Number: 1009-01 CARLOS SOLÓRZANO SOLORZANO CORPORATION Purchasing Real Estate in México by CARLOS SOLÓRZANo Buying real estate in Mexico is secure and the process could be seamless if done properly.
More informationMergers & Acquisitions for Financial Advisory Practices Navigating the Age Wave
Executive White Paper Mergers & Acquisitions for Financial Advisory Practices Navigating the Age Wave By Todd Doherty February 2014 www.keymanagementgrp.com info@keymanagementgrp.com (888) 848-3349 Toll-
More informationPresentation to Stockbrokers
9 September 2008 Company Announcements Office ASX Limited 20 Bridge Street SYDNEY NSW 2000 Re: Presentation to Stockbrokers Please find attached today s presentation to Taylor Collison. Yours faithfully
More informationStrategic Advisory Service
Strategic Advisory Service Helping Clients through Transactions and Transition Accelerating your vision Strategic Advisory Service 2 mergers acquisitions divestments listings However good your senior management
More informationStrategic Advisors Middle Market Investment Bankers
The Divestiture Alternative - An Overview Presentation Bringing Efficiency to Inefficient Markets Pittsburgh Office 400 Southpointe Blvd. Plaza I, Suite 120 Canonsburg, PA 15317 (724) 743-5800 www.strategicad.com
More informationfor Analysing Listed Private Equity Companies
8 Steps for Analysing Listed Private Equity Companies Important Notice This document is for information only and does not constitute a recommendation or solicitation to subscribe or purchase any products.
More informationCBRE GROUP INC. leadership in every major market Respect, Integrity, Service and Excellence (RISE)
HONG KONG SERVICES CBRE GROUP INC. Headquartered in Los Angeles, CBRE Group Inc. is the world s largest commercial real estate services firm (in terms of 2012 revenue). We are a Fortune 500 and S&P 500
More informationTHE SELL-BUY FLIP SELLER INITIATED WARRANTY & INDEMNITY INSURANCE IN PRIVATE MARKET MERGERS AND ACQUISITIONS
THE SELL-BUY FLIP SELLER INITIATED WARRANTY & INDEMNITY INSURANCE IN PRIVATE MARKET MERGERS AND ACQUISITIONS CONTENTS P1 P2 P4 P5 INTRODUCTION THE STEPS INVOLVED IN THE SELL-BUY FLIP COMMON SPA PROVISIONS
More informationAutos Consumer Journey Yahoo Insights Team. November 2013
Autos Consumer Journey Yahoo Insights Team November 2013 1 Insights Overview What do automotive marketers need to know to engage and connect with consumers along the path to auto purchase to drive results?
More informationLease Company Information. BMW Financial Services
Lease Company Information The team at Swapalease.com prides itself in being the number one resource for automotive lease transfers anywhere. For this reason we need your help in both researching new leasing
More informationHow help business owners prepare for the future
Take Control: How Business Valuations help business owners prepare for the future Four things you will learn from this whitepaper: This whitepaper will have special interest to people in the following
More information2015 M&A Outlook Survey Report
2015 M&A Outlook Survey Report The Boom is Back: M&A Reemerges as Leading Growth Strategy kpmg.com Foreword M&A in the U.S. has finally reached prerecession levels. Deal value in the first three quarters
More informationIs now a good time to sell your consulting
Is now a good time to sell your consulting THE 2014 BUYERS RESEARCH REPORT F R O M E Q U I T E Q Opportunities for sellers in the consulting sector M&A market Contents Highlights...3 Introduction...4 Buyers
More informationThe buying and selling of a financial planning business
The buying and selling of a financial planning business Gavin Jordan, Partner, Ernst & Young LLP 10 September 2010 Disclaimer This publication contains information in summary form and is therefore intended
More informationEarly on, your needs were simple. The memory of
Client Guide Early on, your needs were simple. The memory of investing your first hard-earned dollars is etched in your mind. As you established yourself and began to experience success, your needs changed.
More informationYOU GOT THE TERM SHEET NOW WHAT?
YOU GOT THE TERM SHEET NOW WHAT? The purpose of this guide is to give entrepreneurs a high level overview of the angel and venture capital fundraising process. It is our hope that this overview will help
More informationThe Professional Advisor s Critical Role in Business Succession Planning
BUSINESS SUCCESSION PLANNING The Professional Advisor s Critical Role in Business Succession Planning Richard Walter The Wealth Strategy Group Introduction An increasing number of Canadians are now planning
More informationkurt.rosentreter@manulifesecurities.ca 416-628-5761 ext. 230
kurt.rosentreter@manulifesecurities.ca 416-628-5761 ext. 230 Leasing Your Car? Convenient But Rarely the Right Financial Move! Written by Kurt Rosentreter, CA, CFP, CLU, TEP, FMA, CIMA, FCSI, CIM, FMA,
More informationSeller Information Package
Seller Information Package Ready for Change? Connecting you to the right buyer. Thank you for reaching out to us and inquiring about assistance with one of the most important business decisions of your
More informationBUSINESS CONSULTING & EXIT PLANNING STRATEGIES
BUSINESS CONSULTING & EXIT PLANNING STRATEGIES 455 N. Cityfront Plaza Dr., Suite 2600 Chicago, Illinois 60611-5379 T: F: 312.670.8301 Next Plateau Consulting LLC is a Chicago-based consulting firm dedicated
More informationMergers & Acquisitions A snapshot Change the way you think about tomorrow s deals * Stay ahead of the new accounting and reporting standards for M&A
February 2010 Mergers & Acquisitions A snapshot Change the way you think about tomorrow s deals * Stay ahead of the new accounting and reporting standards for M&A Summary Accounting for contingent consideration-
More information2015 MILLENNIAL OUTLOOK
TABLE OF CONTENTS INTRODUCTION: ABOLISHING STEREOTYPES 1 CAR SHOPPING: A DIFFERENT APPROACH 2 CAR OWNERSHIP: PRACTICAL CONCERNS 4 THE DEALERSHIP VISIT: NEW INFLUENCES 5 SERVICE: IN FOR THE LONG HAUL 6
More informationINSIDER TRADING POLICY SUPERIOR PLUS CORP.
INSIDER TRADING POLICY SUPERIOR PLUS CORP. A fundamental principle of securities legislation is that everyone investing in securities should have equal access to information that may affect their decision
More informationHow To Deal With A Conflict Of Interest In A Brokerage
CONFLICTS OF INTEREST General Description Actual, potential and perceived conflicts of interest exist in almost all human interactions. Our relationship with you is no different. For instance, MacDougall,
More informationLive your dream. Advisor Succession Planning Guide
Live your dream. Advisor Succession Planning Guide 2 Advisor Succession Planning Guide Introduction Many financial advisors are looking to grow their businesses by buying a practice while others are looking
More informationRapid Dispositions Handbook
Rapid Dispositions Handbook Second Edition Rapid Dispositions Handbook Baker & McKenzie Second Edition Baker & McKenzie 2007 All rights reserved. Save where otherwise indicated, law and practice are
More information