M&A (Mergers & Acquisitions)

02 / Corporate Finance

/ Intro

The presence of independent professionals with experience to manage the entire process between buyers and the sellers has been increasingly critical and required, given the need to keep confidentiality and independence.

/Experience

Glowside's partners have successfully advised around Eur 200 million in transactions, most of them cross border. Though Glowside has been handling transactions within a wide range of sectors, we have been playing a very relevant role in the pharmaceutical sector, which, due to its characteristics, complexity and sophistication, requires a high degree of experience and competence from the teams involved.

In all transactions we advise, we are fully involved in the deal cycle, from the identification of the opportunity to the signing and closing of the transaction. We provide independent strategic advice, manage the operation's agenda and leverage our network of contacts, to allow our client to remain 100% focused on continuing to manage the day -to-day business.

Around 80% of the transactions we advise are Sell Side and 20% are Buy Side. On the Sell Side, our client is usually a successful Entrepreneur that wishes to close the cycle and sell the company, normally to a corporate player. On the Buy Side, we advise companies in growth phases through acquisition (build up) or internationalization, through the search for targets and by managing the entire process.

Transactions

200M

Sell Side

80%

Buy Side

20%

/ Focus

The transactions we advise usually range between Eur 20 M and Eur 60 M, although we have advised transactions above Eur 100 M and below Eur 5 M, mainly in build-up situations.

We consistently collaborate with partner law firms and tax experts with extensive experience in M&A processes, to respond to all the needs of the deal cycle. We also collaborate with our international counterparts to identify the best targets and/or investors in cross-border transactions.

/ Methodology Framework

The success of a transaction strongly depends on the experience and professionalism of the teams involved and on the quality of the structure and organization of the entire process.

Our work model typically develops as follows:

Alinhamento de objetivos e estabelecimento de bases de trabalho

É de extrema importância o alinhamento adequado de expectativas e o desenvolvimento da estratégia a adotar para a operação, bem como o respetivo calendário de ações a executar e os recursos a envolver para que a operação decorra com maior probabilidade de sucesso. O nosso conhecimento do setor e a nossa experiência acumulada em operações semelhantes são críticas para um alinhamento adequado dos vários stakeholders.

Alignment of objectives and establishment of the work

It is extremely important to properly align expectations and develop the strategy to be adopted for the operation, as well as the calendar to be carried out and the resources to be involved. Our knowledge of the sector and our accumulated experience in similar operations are critical for the proper alignment of the multiple stakeholders.

Avaliação preliminar do negócio incluindo o desenvolvimento ou adaptação de um Business Plan a 5 anos

A avaliação preliminar do negócio permite o alinhamento entre os vários players. A normalização do EBITDA e a identificação dos most valued assets e dos non-strategic assets permite preparar as bases para uma negociação de forma a maximizar o valor para o cliente ao longo do processo. Uma avaliação de base para uma operação de M&A é diferente de uma avaliação tradicional. A nossa experiência em efetuar avaliações expeditas para processos semelhantes é um elemento claramente diferenciador da Glowside.

Preliminary business assessment and 5-year Business Plan

The preliminary business valuation allows alignment between the multiple stakeholders. Assessing the normalized EBITDA and identifying the most valued assets and non-strategic assets makes it possible to prepare the bases for a negotiation and to maximize the value for the client throughout the whole process. A baseline valuation for an M&A transaction is different from a traditional valuation. Our experience carrying out similar processes is a clear competitive advantage of Glowside.

Preparação dos documentos necessários (NDA, Teaser, Information Memorandum e outros)

Preparamos, em conjunto com a equipa de advogados, toda a documentação necessária, assegurando a sua consistência e conferindo velocidade ao processo.

Preparation of documentation (NDA, Teaser, Information Memorandum and others)

Together with the team of lawyers, we prepare all the necessary documentation, ensuring its consistency and speeding up the process.

Identificação de Targets de Aquisição / Investidores e elaboração se Short List / Seleção

A nossa rede de contactos a nível nacional e internacional, o acesso a bases de dados e capacidade de research conferem-nos competências distintivas para a identificação de targets e investidores e apoio à seleção daquele que se apresenta mais adequado.

Identification of Acquisition Targets / Investors and preparation of a Short List / Selection

Our network of contacts at national and international level, access to databases and research capacity give us distinctive skills to identify targets and investors and support the selection of the most suitable one or short list.

Estruturação da Transação

Apoiamos, em conjunto com as equipas de advogados e fiscalistas, o desenho da estrutura ideal para a transação, tomando em consideração os aspetos materialmente relevantes relacionados com pessoas, organização, ativos, impostos, bom como regulamentares e legais da operação.

Structure the Transaction

We support, together with the teams of lawyers and tax experts, the design of the ideal structure for the transaction, considering the materially relevant aspects related to people, organization, assets, taxes, as well as the regulatory and legal aspects of the operation.

Coordenação do Processo de Due Diligences

Coordenamos a estruturação e construção do Virtual Data Room, bem como todo o processo de necessário à conclusão das Due Diigences. O nosso papel nesta fase centra-se na garantia que os prazos são cumpridos e que a documentação necessária é apresentada e esclarecida e que os requisitos de confidencialidade documental são mantidos.

Due Diligence Process Coordination

We coordinate the structuring and construction of the Virtual Data Room, as well as the entire process necessary for the completion of Due Diligences. Our role at this stage focuses on ensuring that deadlines are met, the necessary documentation is presented and clarified and that confidentiality requirements are maintained.

Negociação e SPA

A nossa experiência de negociação de vários anos a assessorar transações traz valor ao processo negocial, trazendo independência e objetividade ao processo que muitas vezes se torna ”carregado” de emoções.

Negotiation and SPA

Our extensive experience of negotiation and advisory brings value to the negotiation process through the independence and objectivity that we bring to the process.

Signing & Closing

Sem uma equipa profissional e com experiência, o risco de o processo perder momentum entre a Letter of Intent e o Closing eleva-se. A nossa equipa permanece ativamente envolvida ao longo de todo o processo mantendo a pressão sobre o calendário, até que a transação conclua com sucesso.

Signing & Closing

Without a professional and experienced team, the risk of the process losing momentum between Letter of Intent and Closing increases. Our team remains actively involved throughout the entire process, keeping pressure on the calendar until the transaction is successfully completed.

Corporate Finance

Business Planning & Valuation

Corporate Finance

Debt Advisory

Corporate Finance

Debt Advisory

Corporate Finance