Covering the end to end deal process and bespoke to the middle market

1. Middle market M&A ecosystem training

2. Financial statements & accounting training

3.Commerciality training

4.Financial analysis & due diligence training

5.Private equity training

6. Valuation and positioning training

7. Strategic exit options training

8.Equity advisory training

9. Debt advisory training

10. Financial modelling training

11.Leveraged buy out (LBO) modelling training

12. Process management training

13. Locked box and completion accounts training

14.Funds flow training

15. Legal documents and tax training

  • Key M&A stakeholders from entrepreneurs to investors & funders
  • Broader advisors involved in M&A
  • Rationale for sell side and buy side M&A
  • Optical view of a deal and M&A process
  • What a good business looks like, and how to find them

  • Profit and loss, balance sheet and cash flow drill down
  • Integrity checks and linkages
  • An automated system of accounting using debits and credits
  • Accounting knowledge to explain underlying earnings, working capital and net debt adjustments
  • Key accounting risks by sector

  • Reviewing business models
  • Differentiation categories
  • Market definitions, sizing and analysis
  • Story board the sale document
  • Commercially assessing forecast growth

  • Due diligence checklists
  • Analytical methodologies
  • Underlying earnings
  • Working capital and net debt
  • Enterprise value to Equity value bridge

  • Private equity landscape mapped
  • Objectives of private equity
  • Options available in structuring middle market deals
  • Financial instruments
  • Factors impacting structuring
  • Entry and exit

  • Precedents
  • Comparables
  • Discounted cash flow
  • Leveraged buy out
  • Commercial factors driving valuation
  • Technical topics impacting valuation

  • Trade
  • Private equity
  • IPO
  • EoT
  • Debt refinancing
  • Preparing a business for sale

  • Key public market transactions
  • Corporate broking role and after-market support
  • Nominated advisors (Nomads)
  • Bookbuild and pricing of an IPO
  • Rule 3

  • Debt products, pricing and pros and cons
  • Key terminology
  • Structuring EBITDA
  • Covenants and testing
  • Debt process

  • Deciding model complexity
  • Business services modelling
  • Consumer modelling
  • Industrials modelling
  • Technology modelling
  • Healthcare modelling

  • LBO models on a platform investment
  • Platform investment and buy and build
  • Rapid paper LBO

  • Buyer research and management
  • Buy side and sell side process ingredients
  • Process tactics
  • Offer letter review
  • Behaviours leading to successful process management

  • Comparison of locked box and completion accounts
  • Long list of potential cash and debt like items
  • Working capital price adjustment
  • Leakage and permitted leakage
  • Cash profits and equity ticker
  • Detailed buyer and seller arguments
  • Accounting policy hierarchies

  • Selling a privately owned business to a trade buyer
  • Selling a private equity backed business to a trade buyer or private equity firm
  • Acting for private equity buying a business going through a primary LBO

  • Due diligence
  • Key legal documents
  • Key areas to review in an SPA
  • Warranty, indemnity and disclosure process
  • Earn Out
  • Tax covenant and tax issues
  • Other legal issues