Corporate Finance for SMEs

Course Overview

The destruction of shareholder value through ill-thought-out acquisitions is a well known feature of the M&A market. From a buyer’s point of view, this course highlights the major risks and problems likely to be encountered during the acquisition process, with guidance for their avoidance or mitigation. Process and commercial failures are examined (together with the difficulties experienced by SMEs in raising bank finance) and the necessity for a sound acquisition plan is emphasised.

The objective of a seller should be to achieve the highest price subject to the least onerous terms and to walk away from a transaction with measurable and finite liabilities. From a seller’s point of view (with particular reference to family companies), the course examines common errors and pitfalls in the disposal process and emphasises strategies for realising maximum value on a disposal.

NB. Most of the content of this course is included in our “buying a company” and “selling a company” courses.

Course Content

Background & overview

• Objectives of buyers & sellers

Acquisitions 

• Common errors
• The acquisition plan
• Preparing the management
• Deciding on deal size
• Measuring risk
• Approach tactics

Valuation

• NAVs, DCF & PERs
• Valuation with comparables
• Disagreement on multiples

Appointment of advisers

• Disclosure to advisers
• Engagement Letter & fees

Family owned companies

• Managing liquidity problems
• Planning for succession
• Arranging a sale 

Bank finance

• Bankers’ preferences
• The business plan
• Relationship management

Disposals

• Common errors
• Rationale for sell-side due diligence
• Preparing the management
• Grooming & separation issues
• Writing an Information Memorandum

Negotiation

• Buyers’ objectives & sellers’ tactics
• Confidentiality Letter
• Letter of Intent / Heads of Agreement
• Data Room
• Completion



“I found the course to be well-tailored to my new role in Corporate Finance, providing some really good tips to keep with me for the future; the course material was very informative, and the interactive structure of the teaching kept us all engaged.”

Delivering this course in-house for you to a number of participants could be very cost effective. Please call us on 020 7387 4484 to discuss this further.

If you have any questions about this seminar please write to us at post@redcliffetraining.co.uk.