During the last Barcelona fall conference, we had the chance and opportunity to introduce three IT companies from different countries seeking to expand beyond their homeland: Compta from Portugal, Wavestone from France and Postalia from Germany.
It was a great opportunity to discover their international expansion strategy and to get the M&A Worldwide members aware of their research criteria.
A well-timed process and the presentation of qualified opportunities is certainly the main added value for our clients when attending such an event.
The current issue of the IT Industry Report includes an interview with Qualitest Group CEO Ayal Zylberman as well as different country focus reports.
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Martes, 13 de febrero de 2018
ENTRE PREGUNTA Y PREGUNTA
'El valor de una empresa es su futuro'
JORDI BLASCO Experto en fusiones y adquisiciones/ El socio fundador de ARS Corporate considera que valorar una empresa a base de múltiplos de Ebitda 'es como pintar un retrato con un rodillo'.'Será una cara,pero nunca un retrato', concluye.
José Orihuel – Barcelona
Socio fundador de la consultora de fusiones y adquisiciones ARS Corporate y del bufete Blasco Sellarès Legal + Tax, Jordi Blasco Arasanz (Barcelona, 1962) rebate algunos apriorismos en torno a la compraventa de empresas y se muestra escéptico ante las cifras que alcanzan algunas inversiones en startup.
¿Cuáles son los perfiles dominantes a la hora de comprar o vender una em-presa?
Hay dos perfiles muy claros. Cuando te dan un mandato de compra, el cliente suele ser un ejecutivo de una empresa o de una gestora de capital riesgo. Si recibes un mandato de venta, lo habitual es que el cliente sea un accionista de la compañía, miembro de la familia fundadora. Es muy distinto trabajar con el comprador que con el vendedor porque en el segundo el componente emocional es mucho más importante.
¿Cuál suele ser la actitud de los dueños de la empresa familiar que quiere vender?
De cada diez compañías familiares, en siete u ocho casos los dueños son personas con poca formación financiera que confunden bastante los términos de las cosas. A me-nudo les cuesta asesorarse y vienen con una idea preconcebida que es necesario combatir: las empresas que están en venta, van mal; eso es lo que piensan el 90%. Es una idea superarraigada, que hace bastante año. Hay que decirles que si la empresa está mal, les pagarán una miseria por ella. A este tipo de vendedores potenciales les pido que en las dos primeras horas de conversación me den las malas noticias sobre su negocio.
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The last M&A WW Convention took place in New Delhi on 17-18th November, providing an opportunity for all network members to discuss M&A projects in the IT Sector. One of the world’s fastest growing economies and home to a thriving IT sector, India is profiled in brief on [page 2].
Two key factors currently driving development in the IT market are Connectivity and Mobility, with companies across the world becoming increasingly focused on how to understand, contribute to and ultimately gain advantage from the rapid expansion of the Internet of Things (“IoT”). These key trends are discussed in depth by M&A WW industry experts on page 5 and 8 of the report.
General consensus in global and major energy markets forecast that energy commodity prices are going to remain depressed still for a while. In this context, M&A activity is expected to get momentum in the next 3 to 5 years as company restructure asset portfolios, seek scale economies, look to diversify the business and act opportunistically.
While the spike in M&A activity has been characterized and supported by large M&A transactions, deal-making is increasing across all company sizes. In particular we see a strong appetite for companies in the industrial services linked to the energy and environment sectors.
The signing of the final contracts for the construction of the Hinkley Point C nuclear power station in UK by the French-Chinese consortium EDF Energy- CGN relaunches the construction of new nuclear power plants in UK and Europe
We see strong tailwinds downstream most of the supply and value chains and in particular in the power supply customer-tailored services, conventional and renewable asset maintenance, energy efficiency in commercial and retail markets and in the WEEE recycling business.
Agriculture- & food related industries are booming. Business activities and economic development in the Agri & Food markets contribute significantly to our country’s economies, GDP and employment. For many years, M&A Worldwide has been a dynamic player in the Agri & Food market. We have advised numerous clients during M&A transactions We are constantly keeping up with trends in the sector and advise entrepreneurs on M&A, strategic and business valuation issues.
We believe that by sharing our knowledge we can guide entrepreneurs to gain quality insights into the market and make better decisions to increase company value. This industry report summarizes and further builds on our knowledge and expertise of the Agri & Food sector, recent M&A deals and the appetite of investors in the sector.
In 2015, global production of cars was 68.5 million and commercial vehicles was 22.2 million, an overall increase of 1.1% over 2014. 1 OEM production is both concentrated and global. The top 15 countries produce 88% of the world’s cars, but regional differences in customer preferences, regulatory environments, and infrastructure ensure local and regional differences. 2 Top producing countries include China, the US, Germany, Japan, South Korea, and India.
Healthcare M&A reached $546 billion in announced deal value in 2015 – a 2.5 times increase over the previous decade’s average annual value. Several industry-specific trends further fueled the healthcare M&A boom. Firstly, demand for healthcare is surging given the rise of chronic and lifestyle diseases, aging populations in many developed markets and a growing middle class in many developing regions. As a result, there will be continued pressure globally to contain healthcare costs, which have consistently outrun GDP growth. Innovation is bringing new drugs, devices, technology and analytics to market, and new government regulations are aiming to improve quality and increase access to healthcare. Taken together, these trends are shifting the way that healthcare is delivered across the globe, triggering consolidation along the value chain as firms position themselves to emerge as winners.
For healthcare PE-investors, 2015 was a strong year for buyouts and exits, but headwinds emerged in the second half of the year. Asia-Pacific turned in another record-breaking year for deal value, with strong activity in the provider and biopharma.
M&A in the global automotive suppliers sector are occurring at an unprecedented level in 2015. However, in our view, the M&A explosion in the automotive supplier sector is just beginning to heat up. Perhaps the primary catalyst for more activity will be the efforts among many automakers to gain efficiency, improve margins, and increase scale by implementing more global architectures and platforms for their vehicle designs that can be used in any market around the world with minor modifications.
We strongly believe that the M&A boom in the automotive supplier industry still has room to grow, and there are plenty of opportunities for significant returns on investment.