Post on 06-Jul-2018
Corporate Finance © 2017 Deloitte
#1 local mid-market M&A adviser 2013-2016
Leading top tier M&A adviser 2016
#3 – Europe
#3 – Worldwide
Leading small and midcap financial advisory firm
Integrated solutions for the benefit of our clients
1
Strong M&A offering
Global advisory
platform
Numerous
industry
awards
confirming
client benefits
Complementary
M&A service
offerings
Global platform supporting cross-border activity and industry intelligence
An integrated network at a global level allowing us to advise clients on cross-border opportunities
European and global industry specialists supporting national teams during advisory assignments
Danish M&A advisor of the year 2016 by MergerMarket
Voted “Best Financial Adviser”, Partnerships Bulletin Awards 2015
Deloitte ranked as the No. 1 Global Consulting organization 2015
M&A Transaction Services (due diligence)
M&A Tax
Commercial DD
Valuation & Risk Management
Post Merger Integration
Contact
• #1 adviser in Small &
Midcap transactions
• Global platform
supporting cross-border
activity
• European and global
industry specialists
supporting national
teams during advisory
assignments
• Deloitte holds the
necessary permits for
the services offered
M&A financial adviser ranking 2013-2016
#1 local mid-
market M&A
adviser
Source: MergerMarketNote: Private M&A in Sweden and Denmark, deal values between EUR 10m to EUR 100m (Jan, 2013 – Dec, 2016)
Rank Adviser Number of deals Value (EURm)
1 Deloitte 19 698
2 PwC 19 620
3 SEB 13 610
4 Carnegie 10 541
5 ABG Sundal Collier 13 530
6 Danske Bank 9 489
7 Nordea 9 484
8 EY 17 419
9 Handelsbanken 10 400
10 KPMG 10 359
Deloitte AB
113 79 Stockholm, Sweden
Tel: +46 75 246 20 00
Fax: +46 75 246 24 01
www.deloitte.se
Org. nr: 556271-5309
Contact persons
Andreas Marcetic
Head of Financial Advisory
Tel/Direct: +46 75 246 23 41
Mobile: +46 73 397 23 41
Email: amarcetic@deloitte.se
David Järnland
Head of Corporate Finance Advisory
Tel/Direct: +46 75 246 28 49
Mobile: +46 70 080 28 49
Email: djarnland@deloitte.se
Corporate Finance © 2017 Deloitte
Deloitte Corporate Finance Advisory
A strong European network of Corporate Finance specialists
• With over 1,750
Corporate Finance
professionals and
almost 200 partners
worldwide, Deloitte has
one of the largest
dedicated M&A
practices in the world
• Approximately 50
Corporate Finance
professionals in the
Nordic region
European specialists will be leveraged by the core execution team in Stockholm
Sweden
David JärnlandManaging Partner
Belgium
Serge Prosman
Partner
The Netherlands
Jeroen Van Der WalManaging Partner
Norway
Tom HuseboPartner
Iceland
Agust H. OlafssonManaging Partner
Spain
Enrique Gutiérrez
Partner
Portugal
José-Gabriel Chimemo
Managing Partner
France
Charles BédierPartner
Denmark
Johannes V. Sørensen
Managing Partner
United Kingdom
Paul Lupton
Partner
Germany
Stephan KrümmerPartner
Austria
Albert HannakPartner
Poland & Baltic
Artur Dobrowolski
Partner
Russia
Anton Shulga
Partner
Italy
Elio MilantoniPartner
Czech Republic
Garret Alfred ByrnePartner
Hungary
Bela SeresManaging Partner
Bulgaria
Gavin HillPartner
Croatia
Eric OlcottManaging partner
Romania
Hein van DamPartner
Switzerland
Jean-Francois LagásseManaging Partner
Greece
Michael HadjipavlouManaging Partner
Finland
Jan SöderholmManaging Partner
Central Europe
Bela SeresManaging Partner
Ukraine
Dmitriy AnufrievPartner
Ireland
David O’Flanagan
Managing Partner
Serbia
Milos VidenovicDirector
2
Corporate Finance © 2017 Deloitte
One stop shop for M&A services
Complete offering within M&A services
We are an integrated part of the world’s leading professional services organisation
• Complete offering
within M&A services
including due diligence,
Corporate Finance,
valuation and post
merger integration
• By choosing Deloitte
Corporate Finance you
are ensured a well-
functioning professional
setup based on a global
network with access to
global experts and local
commitment
Competencies across all disciplines
Broad transaction focus
Large-cap
Small/Mid-cap
PE buyerIndustrial buyer
Integrated services
Exclusive financial adviser to
in the sale to
Undisclosed value
2016 Denmark
Exclusive financial adviser to
in the sale to
EV: DKK 380m
2016 Denmark
2015
Exclusive financial adviser to
Denmark
in the acquisition of
Undisclosed value
2015
Exclusive financial adviser to
Denmark
in the acquisition of
Undisclosed value
and
2015 Denmark
Undisclosed value
Exclusive financial adviser to
in the sale to
International network
Sell-sideadvisory
Buy-side advisory
Industrial & Private Equity
Transaction services
Consulting
TaxIndustry experts
Global inroads
+244,000 employees in
150+ countries
Capital markets
Large-cap deals
Small & mid cap
deals
3
Exclusive financial adviser to
in the disposal to
Undisclosed value
2016
Corporate Finance © 2017 Deloitte
Eight global industry groups
Cross-border knowledge, intelligence and dedicated specialists
4
Industries
Sub-sectors
Selected Deloitte reports
Industries
Sub-sectors
Selected Deloitte reports
Consumer Business Financial Services Manufacturing Real Estate
• Retail, Wholesale & Distribution
• Consumer Products
• Textile
• Transportation and Logistics
• Travel and Leisure
• Banking and Securities
• Real Estate
• Insurance
• Investment Management
• Industrial products
• Sub-contractors
• Chemicals
• Forest, Paper and Packaging
• Automotive and Defence
• Real Estate investors
• Development companies
• Construction companies
• Hotels
• Mining
• Power
• Oil and Gas
• Shipping and Ports
• Water
• Life Sciences
• Pharmaceuticals
• Health Care Services
• Education
• State
• Regions
• Municipalities
• Technology
• Media
• Telecommunications
Health Care Public SectorEnergy and Resources TMT
• Cross-border offering
within eight global
industry groups:
• Consumer Business
• Financial Services
• Manufacturing
• Real Estate
• Energy & Resources
• Health Care
• Public Sector
• TMT
Corporate Finance © 2017 Deloitte
Process considerations
Local team with input from global network ensures an efficient sales process
• Global but local setup
secures an agile sales
process
5
Phases of a sales process
Key deliverables
Advantages having one local team with integrated competencies
Initial preparation
Identification of investors
Preparation of sales material
Market contact Negotiation/signing
• Gross list of potential investors
• Classification of investors in collaboration with the company resulting in a short list
• Review and polish of business plan
• Preparation of financial analysis
• Teaser
• Pre-marketing presentation
• Management presentation
• Evaluation of investor interest
• Evaluation of individual offers
• SPA
• Description of purchase price, transaction structure and conditions
• Corporate Finance
• Industry specialists
• Corporate Finance
• Industry specialists
• Network
• Corporate Finance
• Industry specialists
• Corporate Finance
• Network
• Corporate Finance
Deloitte involvement
• Integrated process of information gathering avoiding duplicated work of other advisers
• Reducing management’s involvement
• Access to local investors through global Deloitte Network
• Knowledge of sales process gathered one place
• Only in-house flow of documents
• Reducing management’s involvement
• Evaluation of investors in closed forum
• Commitment
• Quick respond in case of spontaneous meetings
Extensive analysis of financial
performance
Global inroads to potential investors
Tailored business case to investor
needs
Close collaboration with key
shareholder
Strong relations to Swedish law firms
Deloitte secures a
successful sales
process
Corporate Finance © 2017 Deloitte
Deloitte is the world’s leading professional services organisation
Offices in 150 countries, c.244,000 employees and revenues of EUR 35bn
6
Global Coverage Revenue by region 2016 (EURbn)
Revenue by service line 2016 (EURbn)
EMEA
90+ countries
86,600 FTEs
Revenue: EUR 11.6bn
Americas
30+ countries
107,900 FTEs
Revenue: EUR 18.1bn
Asia Pacific
25+ countries
49,900 FTEs
Revenue: EUR 4.9bn
Deloitte
Audit ConsultingFinancialAdvisory Tax
EnterpriseRisk
Services
• Assurance & Attest
• Actuarial & Insurance
• Forensic & Dispute
•Outsourcing Solutions
• Integrated IT Management Consulting
• Strategy Consulting
• Corporate Finance
•M&A Transaction Services
• Valuation Services
• Risk Management
• Capital Markets Services
• Corporation Tax
• Personal Tax
•M&A Tax
• Legal Services
• VAT, Custom & Duty
• Control Assurance
• Risk Management
• Internal Audit
• Sarbanes-Oxley
• IT Security Control
• Offices in over 150
countries with
c.244,000 co-workers
worldwide
• Services in excess of
80% of the companies
within Fortune Global
500 as well as
governments and
growth companies
• Through the Deloitte
member firms we have
access to over 11,200
dedicated M&A
specialists in all major
regions
• This depth of resources
allows us to bring the
same level of
responsiveness and
high quality service to
any transaction,
anywhere in the world
• Approximately 220
Financial Advisory
professionals in the
Nordic region, with a
Swedish local team of
44 professionals
Americas,
18.1
EMEA,
11.6
Asia Pacific,
4.9
Audit, 8.8
Tax &
legal, 6.5Consulting,
12.3
Financial
advisory,
3.1
Risk
advisory,
3.9
Corporate Finance © 2017 Deloitte
Successful M&A execution often requires both end-to-end collaboration and local presence across multiple geographies • The Nordic Deloitte
Corporate Finance team
serves prominent
clients in the region
and has successfully
completed a range of
transactions
In the acquisition of
Deal value undisclosed
2015
Financial adviser to
Financial adviser to
In the sale of certain parts of
Deal value undisclosed
2015
Telenor
Exclusive Financial adviser to
Deloitte Corporate Finance Advisory
Selected credentials in the Nordics
To:
Deal value undisclosed
2015
Financial adviser to Glitnir
in the sale of
In the disposal to
Deal value undisclosed
2016
In the acquisition of
Deal value undisclosed
2015
Exclusive financial adviser to
In the sale to
Deal value undisclosed
2016
Exclusive financial adviser to
In the sale to
Deal value undisclosed
2016
Financial adviser to
In the acquisition of 10% of
Deal value undisclosed
2015
Financial adviser to
In the acquisition and MBO
of the company
Deal value undisclosed
2015
Financial adviser to certain
shareholders of
In the acquisition of
Deal value undisclosed
2015
Exclusive financial adviser to
and
In the acquisition of
DKK 400m
2015
Exclusive financial adviser to
In the acquisition of
Deal value undisclosed
2015
Exclusive financial adviser to
In the sale to
Deal value undisclosed
2015
Exclusive financial adviser to
In the sale of
Deal value undisclosed
2015
Financial adviser to
In the disposal of
Deal value undisclosed
2014
Financial adviser to Financial adviser to
In the sale of
to
Deal value undisclosed
2014
In the sale to
Deal values undisclosed
2014
Financial Adviser to
7
Exclusive financial adviser to
In the sale to
Deal value undisclosed
2016
Exclusive financial adviser to
In the sale to
Deal value undisclosed
2016
To:
Deal value undisclosed
2015
Exclusive Financial advisor
to
Exclusive financial adviser to
In the sale to
Deal value undisclosed
2015
Financial adviser to
In the public takeover of
EqV: DKK 2.0bn
20152014
Exclusive financial adviser to
Denmark
in the sale to
Undisclosed value
2014
Exclusive financial adviser to
Denmark
in the sale to
Undisclosed value
Financial adviser to
In the aqcquisition of
Deal value undisclosed
2015
Exclusive financial adviser to
In the sale to
Portfolio company
Deal value undisclosed
2016
Corporate Finance © 2017 Deloitte
Deloitte Financial Advisory
Selected Financial Advisory credentials in Sweden
8
Financial and tax due diligence Commercial due diligence
Integration and PMI
Valuation
Restructuring
Prior to the acquisition of
Deal value undisclosed
2016
Financial due diligence for
Prior to the acquisition of
Deal value undisclosed
2015
Financial due diligence for
Prior to the divestment of
Deal value undisclosed
2014
Vendor due diligence for
Prior to the divestment of
Deal value undisclosed
2015
Vendor assistance for
Prior to the divestment of
Deal value undisclosed
2014
Vendor due diligence for
Prior to the acquisition of
Deal value undisclosed
2015
Financial due diligence for
Distribution Sweden
• Deloitte Financial
Advisory serves
prominent clients in
Sweden
In connection to dual track
divestment by
In the acquisition by EQT In the acquisition by Axcel
Fairness opinion for
Bid offer for
Value: SEK 719,000,000
Fairness opinion for
Bid offer for
Value: SEK 23,600,000,000
Fairness opinion for
Bid offer for
Value: SEK 2,294,000,000
Project Laundry
Independent Business review
European Clothing business
Project Carrier III
Business Plan review
European Paper business
Project Elixer
Accelerated M&A process
European Construction
business
Deloitte assisted IKEA in the analysis of their IT landscape and prepared them for a transaction including the separation of finance systems, intranets and migration of users
In connection to the acquisition of ApotekHjärtat in 2015
Commercial vendor due
diligence of
Commercial due diligence ofCommercial due diligence of
Carve-out planning for Post Merger Integration
for
Post merger Integration
for
In connection to the acquisition of NORD Group in 2015
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