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External growth

Mergers & Acquisitions

Acquisition due diligence, an essential step in any transaction.

External growth offers real strategic advantages, but requires thorough checks on the target before any firm commitment. There is not one due diligence but several: their scope is negotiated between the buyer and the chosen firm.

Who is it for?

  • Industrial and financial buyers
  • Sellers and family shareholders
  • Investment funds
  • Groups undergoing reorganisation

Multidisciplinary team

Audit, tax, legal and employment coordinated on a single file.

Negotiation-focused

Every risk identified becomes a price argument or a warranty.

Never on both sides

We never act for both buyer and seller on the same transaction.

The questions we answer

What the buyer needs to know before signing.

  • Does the target’s profitability justify the acquisition, or is it likely to fall?
  • Are the accounting items correctly valued and compliant with standards?
  • Are there differences from the valuation criteria in the letter of intent?
  • What cost and growth synergies can be expected?

Our acquisition due diligence

The target’s past, present and future.

We check that the items negotiated to value the target match reality and we identify areas of risk. Our audit, tax, legal and employment teams work together.

Our objectives

  • Giving the investor confidence in the project
  • Informing them of all significant matters
  • Providing solid arguments to negotiate the price
  • Targeting the risks to be covered by the warranty and indemnity
  • Identifying the synergies of the transaction
  • Listing the actions to take after the acquisition

Mergers, demergers and restructurings

Bringing together or reorganising structures.

Our legal, tax and finance practices support mergers by absorption, demergers, partial asset contributions, disposals and acquisitions, from valuation and exchange ratio calculation through to drafting agreements and formalities.

In plain terms
Warranty and indemnityThe seller’s undertaking to compensate the buyer if debts or risks predating the sale come to light after it.

What you receive

Concrete deliverables, written to be used

  • Due diligence report with quantified points of attention
  • Valuation note
  • List of warranties and indemnities to negotiate
  • Post-acquisition action plan

In practice

A typical engagement

All typical engagements
Mergers & Acquisitions

Acquiring a competitor

The situation

A distribution group wants to buy a regional competitor and must set its price.

Our intervention

  • Coordinated financial, tax, employment and legal due diligence
  • Analysis of the quality of earnings and the real debt
  • List of risks to cover through warranties and indemnities

The intended result

A well-argued price, targeted warranties and an integration plan.

See the practice area Mergers & Acquisitions

Our approach

How an engagement unfolds

  1. Meeting

    We meet you to understand your expectations and present our solutions.

  2. Engagement letter

    Scope, timetable, allocation of tasks and fees suited to your budget.

  3. Delivery

    Documented methods, written control and monitoring procedures, a single point of contact.

  4. Report and follow-up

    Minutes, reports and support with implementation.

Frequently asked questions

What our clients ask us

How long does a due diligence take?

It depends on the size of the target and the availability of documents. We set it with you at the scoping stage, based on the transaction timetable.

Do you act on the sell side?

Yes: preparing the company for sale, data room, vendor due diligence and negotiation support.

Is a full or targeted audit needed?

The scope is negotiated: it depends on what is at stake in the transaction and the perceived risks. We help you size it.

Looking for an independent, multidisciplinary firm?

Let’s meet to define your needs together. You will then receive an engagement letter suited to your situation and your budget.