Corporate Finance

Our goal is to help our clients achieve their visions

There are very few advisers who can provide the full spectrum of corporate finance advice to middle market businesses both public and private – Merali's Corporate Finance team can.

As a leading accounting firm, our Due Diligence team, backed up by our taxation and pensions specialists, provide due diligence to acquisitive companies, private equity investors and banks.

Our M&A and Private Equity team has been carefully built to provide the right mix of experience and creativity in negotiation, clarity of thought in project management, a worldwide network to identify buyers and investors and the technical support that only a large accounting business can provide.

Allied to these teams we have specialist Valuations and Financial Modelling teams that both provide essential support to our growing clients.

Over the years we have advised upon numerous transactions and we can bring that experience and effectiveness to bear on your transaction.

Find out more about us and the clients we've cared for or call one of our service heads to find out more.

We look forward to working with you on your deal.

Valuations

Valuation – what's it worth? This is perhaps the most frequently asked question in the financial world.

We assess and give guidance on the values of assets as wide ranging as:

  • Shares

  • Businesses

  • Options and warrants

  • Various derivatives

  • Brands and other intellectual property

  • Film and media rights

  • Other income producing assets

We act for charities, public institutions and quangos as well as private companies, unincorporated entities and those listed on a variety of Exchanges.

Our specialists regularly give robust and well-researched expert evidence and opinion in contentious situations of:

  • Shareholder disputes

  • Commercial disputes

  • Matrimonial settlements

  • Damages claims and insured losses.

The non-contentious arena is probably the one that is showing the greatest growth.

Disclosure work includes:

  • Options and derivatives

  • Accounting for acquisitions

  • Annual impairment reviews.

Commercial decision-making sees our opinions used in:

  • Fundraising

  • Security valuation for lenders

  • Buy / sell, develop/sell and buy / develop decisions.

The restructuring arena is growing, with special requirements for trusts and charities.

We also have specialists covering the semi-contentious areas of tax valuation in its various guises.

Our valuation services are much more than just fixing a value. Our aim is to improve our clients' understanding of value:

  • What drives it

  • What detracts from it

  • How to manage and grow it

  • How to defend it

  • How changes in circumstances may affect it.

We develop this through presenting and discussing our research and views, enabling our clients to gain real value from the interesting and informed experts we can field.

Project finance and financial modelling

Merali's has developed an excellent team and first-rate service line in project finance which works closely with the firm's financial modelling offering and associated advisory team.

Merali's can become involved in one of three ways:

  1. Financial adviser to the government – structuring projects, evaluating bids, negotiating detail

  2. Financial adviser to the consortium – assembling the bid, refining and optimising it, acting as interface with funding markets

  3. Acting for the banks and other lenders, providing reassurance that the model on which they're lending is fit for purpose.

In the project finance arena we enjoy a great deal of repeat business which we attribute to experience, quality of service and good relationships.

As a financial market and discipline, project finance places a premium on financial modelling skills. The nature of the transactions is such that they require significantly more complex models than most other corporate finance deals.

Our financial modelling expertise also benefits Merali's corporate clients and we build decision making tools for their management teams and conduct model reviews on behalf of our due diligence team.

The team also provides specialist litigation support.

Mergers and acquisitions and private equity

We've invested nationally and internationally in building a specialist team that provide advice to quoted companies, private shareholders, management teams and private equity houses.

Our advice covers:

  • Private shareholders on preparing for and maximising value from the sale of their businesses

  • Management teams on negotiating terms and raising private equity and/or debt finance to support a management buy out or buy in

  • Corporate and private shareholders on raising private equity and / or debt finance for growth, cash out or recapitalisation

  • Acquisition support services for both private equity and corporate acquirers.

Our team is drawn from a multitude of backgrounds including industry, investment banking, management consultancy, specialist boutiques and big 4 accountancy firms.

Have a look at some of the deals we've done and speak to our clients. We're confident they will tell you we have a will to exceed expectations and make deals happen.

Due diligence

Without doubt the success of an acquisition to an acquirer - be it a corporate or financial investor - can be significantly influenced by the extent and quality of due diligence undertaken. Financial due diligence is a key aspect of the overall investigation into the target.

Our financial due diligence specialists are extremely experienced in providing:

  • Due diligence for financial investors, banks and private equity houses (e.g. when considering funding a management buy-out, 'MBO')

  • Due diligence in the course of a corporate acquisition, in which case we report to the acquirer's management and, where appropriate, their funders

  • Vendor due diligence – this is commissioned by a vendor, but remains a robust independent review upon which ultimately a purchaser can place legal reliance. It identifies potential issues and reduces the probability of these eroding value as they can be addressed by the vendor rather than being a negotiating tool if left to be found by the purchaser.

The scope of financial due diligence commissioned will always be 'deal' specific, but typically includes:

  • An in-depth analysis of underlying historic performance, cash flows, assets and liabilities

  • A critique of management's forecasts, including the working capital requirements of the business

  • A review of the underlying financial systems and controls

  • Analysis of the taxation position of the business.

In all cases our report will include a summary of the key issues arising along with our views on the associated risk and implications for the deal.

This will include integration and other post deal issues where appropriate.

Without doubt the success of an acquisition to an acquirer - be it a corporate or financial investor - can be significantly influenced by the extent and quality of due diligence undertaken.

Financial due diligence is a key aspect of the overall investigation into the target.

Capital markets

Flotation on a public market is one of the options to help grow your business, either to:

• raise funds • increase your company's profile • provide an exit strategy for the business owners.

There are several phases to flotation, all of which need expert advice and assistance. Merali's advises companies worldwide who are seeking to list on public markets in their respective countries or elsewhere.

As reporting accountants we can guide you every step of the way with a personal and efficient service, supported by invaluable experience.

We also have established relationships across the industry to help introduce you to other advisers who are integral to the flotation process.

Our services include:

  • Reporting accountants

  • Advice on preparation for flotation e.g. advice on financial structuring, accounting systems and policies, and taxation – we also have a separate team which can advise at an early stage on business strategy

  • Share option and other director/employer benefit advice

  • Ongoing audit and taxation services

Whether you are a fast growing company or blue chip organisation seeking flotation, or a public company looking to de-list, we have nationwide Capital Markets expertise to help fulfil your organisation's objectives.