Corporate Finance
Funding growth
Depth of experience
Are you looking at undertaking future fund raising, merging your business, making an
acquisition or disposing of a business? Whatever your strategic objectives, Grant Thornton can
help you achieve them.
In an ever-changing market environment, it is important to effectively manage costs and
maximise returns. Our local and international teams act as strategic advisors and are committed
to taking the time to genuinely listen to your individual needs. This enables us to present you
with solutions which add value and ensure your shareholder wealth is maximised.
By adopting a truly partner-led approach we set ourselves apart from other firms while
maintaining competitive and sustainable fee arrangements. Our clients appreciate the proactive
and commercial advice and solutions which are tailored to meet their individual needs.
“In today’s business environment
success depends on the ability to
identify opportunities and trends
ahead of competitors.
At Grant Thornton our focus is on
helping vibrant organisations
unlock their potential for
growth through market
leading insights and
expertise.’’
Corporate Finance Partners - Michael Neary,
Patrick Dillon and Jim Mulqueen.
Value generation cycle
Development
Maturity
Emergence
M&A
Growth
Capital
markets
Transaction
advisory
services
Valuations
Industry
specialisation
Raising
finance
Mergers and Acquisitions (M&A)
• buy/sell side lead advisory
• MBIs/MBOs
• cross border transactions
• private equity advisory
• merger and consolidation advisory
• corporate structuring
• strategic options review
• information memorandum preparation.
Valuations
• independent valuations
• independent expert reports
• majority/minority interests
• Purchase Price Allocations (PPA)
• employee share and option plans
• intangible assets
• disputes and litigation support
• impairment testing
• tax consolidation.
Transaction services
• acquisition due diligence
• vendor due diligence
• tax due diligence
• financial review
• investigating accountants' report
• forecast reviews
• management assessment
• data room services
• pre-lend reviews.
Raising finance and business planning
• raising finance and debt advisory
• debt refinancing
• project financing
• business planning
• financial model construction
• financial model review
• project feasibility
• exit planning.
Mergers and Acquisitions (M&A)
Undertaking a merger, acquisition or divestment can be a watershed event in a company’s
evolution. Our highly skilled M&A team have the experience and expertise needed to assist
clients with their ambitions.
We provide independent insights into the risks and opportunities available for companies aiming
to grow both organically and through acquisition or shareholders realising value. We work
closely with our tax, assurance and other specialist advisory service practitioners to provide a
seamless service that caters for the various financial and commercial issues that arise.
By taking this approach with every assignment we bring together teams with multi-disciplinary
financial backgrounds and strong relationships with financial sponsors, banks and leading
corporates. In addition, our national and international capability provides clients with true
integrated cross-border transaction capabilities.
M&A process
Max
im
ise
Manag
em
en
he
ft
Business
analysis
ue
al
to
v
M&A (value
realisation)
Value
generation
cycle
Gro
si o
wth/exit deci
n
Value
acceleration
We were extremely pleased to work with the Grant Thornton team as part of our investment
in Cylon Group. In a project that required a cross-border multi-disciplinary approach, the team
were extremely committed, quickly identified the key commercial drivers and were both practical
and thorough in their approach. We would have no hesitation in working with the team again.
Paul O’Donnell
Partner, Greencoat Capital
Our M&A credentials
Boulder Media
Mercantile Group
Choice Hotel Group/Clarion
Lead advisor to Boulder Media
on sale to Hasbro Inc.
Corporate finance advice in
respect of merger with Capital
Bar Group
Corporate finance advice in
respect of disposal to Dalata plc
Media and entertainment
Hospitality
Consideration: €40m
Grant Thornton provided lead advisory services
Grant Thornton provided lead advisory services
Grant Thornton provided advisory services
Grove Farm
Ardmore Care Group
Stobart Air
Lead advisor to Grove Farm on
disposal to 2 Sisters Food Group
Provided corporate finance
advice to group in respect of
fund raising process
Corporate finance advice
Food sector
Healthcare
Aviation
Grant Thornton provided lead advisory services
Grant Thornton provided advisory services
Grant Thornton provided advisory services
Killyvally Holdings
Netwatch
MBO of Killyvally Holdings
Corporate finance advisory
services
Commercial vehicle and plant
distribution
Risk management and security
services
Grant Thornton provided lead advisory services
Grant Thornton provide advisory services
Bord Gáis Energy
Bewleys Hotels
IPB Insurance
Corporate finance advisory
services in respect of acquisition
of insurance business
Financial services
Grant Thornton provided lead advisory services
RMS Group Services/
WhiteRock Capital Partners
Advised Bord Gáis ESOP in
relation to sale of Bord Gáis
Energy
Provided financial advice in
respect of disposal of hotel
group to Dalata plc
Provided corporate finance
advice in respect of fund raising
process
Utility sector
Consideration: €450m
Cash management sector
Advisory services
Grant Thornton provided financial advisory
services to the vendor
Grant Thornton provided lead advisory services
Transaction services
Whether you are acquiring or divesting, our transaction advisory team will identify and address
key business issues, particularly those that are likely to affect the value of the business, the
purchase price, or the negotiation of sale and purchase agreements.
Tailoring a reporting deliverable to suit your preferred medium and helping you make informed
decisions, you will receive balanced and objective advice, providing insight and confidence around
the numbers and key questions in respect of your transaction. Our deliverable will focus upon
setting out the transaction messages and issues, and highlighting the action points arising.
We work to develop a real understanding of our clients’ businesses and requirements, with
partner-led service and long-term working relationships. We also offer cross-border transaction
experience. Working with transaction advisory teams in other countries via our international
network, enables seamless delivery of cross border opportunities.
Our transaction services have been
developed to address the key requirements
during the transaction process, including:
• financial and tax due diligence for acquirers;
• vendor due diligence (financial and tax);
• commercial due diligence;
• projections/business plan reviews;
• pre-offer stage desktop reviews and valuation
assistance;
• data room facilitation and management;
• completion accounts review and comments
on sale agreement;
• tax planning and structuring;
• transaction accounting advice including PPA;
• audit file reviews; and
• investigating accountant reports.
We were delighted to work with Grant Thornton’s transaction advisory
services team in our investment in
AMCS Group. Throughout the process
they were highly responsive, working to
a tight deadline and providing us with a
very high quality report. They identified
the key issues of the business and
their work has been invaluable both in
the deal process as well as providing a
strong basis for our engagement with
the company post transaction. I look
forward to working with the team again
on our next transaction.
Tony Zappala - Partner
Highland Capital
Partners Europe
Our transaction credentials
Digicel
Provided vendor due diligence
services in relation to disposal
of investment in Myanmar Tower
Company
Grant Thornton acted as lead due diligence
advisor to the vendor
Broadlake
One51 plc
British Standards Institution
Acquisition of Espion Group
Advised Clearcircle
(environmental division of One51)
on the acquisition of a UK
business
IT security sector
Environmental
Grant Thornton provided transaction services
Grant Thornton provided transaction services
Greencoat Capital
BlueBay Asset
Management
Investment in TTM Healthcare
Investment in Endeco
Technologies
Investments in Carne Group
Financial Services and Kenmare
Bay Hotel
Healthcare
Energy
Hotel and asset management sectors
Grant Thornton provided transaction services
Grant Thornton provide transaction services
Grant Thornton provided transaction services
Uniphar plc
Centric Health Group
Foresight Group
Provided VDD services to Uniphar
in connection with disposal of
interests in Allcare Pharmacies
Acquisition of Primacare group
Acquisition of Hospital Services
Healthcare
Healthcare
Healthcare
Grant Thornton provided transaction services
Grant Thornton provided transaction services
Grant Thornton provided transaction services
MML
Ergo Services
Norlin Hotels
Investments in Identigen and
H&MV Engineering
Due diligence and advisory
services in respect of
acquisitions
Acquisition of Exeter Airport
Hotel
Food and energy sectors
Technology
Hotel sector
Grant Thornton provided transaction services
Grant Thornton provided transaction services
Grant Thornton provided transaction services
Valuation services
Whether you are about to go through a transaction, a reorganisation of your business or are
involved in a dispute – the value of the businesses involved and their assets is likely to be an
important commercial consideration.
Our valuations team provides expert support and advice in disputes, for transactions and in
support of regulatory and administrative matters – valuing businesses, listed and unlisted
securities and intangible assets.
Transactions
Regulatory and
administrative
Disputes
Mergers and
Acquisitions (M&A)
Financial reporting
Court and tribunal
• PPAs*; and
• impairment reviews.
• litigation;
• arbitration; and
• matrimonial.
• bid support;
• pre-transaction indicative
PPA*;
• IP valuations to support
transaction structuring;
• fairness opinions; and
• merger expert reviews.
Asset-backed lending
• initial valuations to
support transactions; and
• periodic valuations to
support covenant testing.
Distressed companies
• input to restructuring
options analysis;
• expert opinion to support
legal processes;
• security review; and
• stakeholder negotiations.
Fund administration
• net asset value reporting; and
• transfers in/out.
Tax
Quasi-legal
• determination under
articles; and
• commercial dispute.
• Capital Gains Tax (CGT);
• group restructuring; and
• employee benefits.
Share option schemes
• valuations to support
option award and exercise.
We have engaged with the Grant Thornton transaction services team
on numerous occasions since our launch in 2013 and continue to be
impressed by the teams’ attention to detail, commercial awareness,
responsiveness and flexibility. While all attributes are important the
ability of the Grant Thornton team to work iteratively with BlueBay on
a transaction rather than rigidly adhering to a scope, has been a true
value add service and one that has helped to deliver positive outcomes
not only to BlueBay but also our portfolio companies.
Ross Morrow
BlueBay Asset Management
*PPAs: Purchase Price Allocations
Our valuation credentials
Valeo Foods
PPA (IFRS3r) in connection
with acquisition of Balconi and
general valuation advice
Enterprise Ireland
Provision of share valuation
services
Ballymore Group
Fair value opinion in respect of
Eurovea transaction
Property sector
Food sector
Grant Thornton provided valuation services
Danone
Divisional valuation for internal
group reorganisation
Grant Thornton provided valuation services
Revenue Commissioners
Share valuation services
Food sector
Grant Thornton provided valuation services
Grant Thornton provided valuation services
High Court
Expert witness valuation services
for the Irish High Court
Section 205
Grant Thornton provided valuation services
Windfarms
Grant Thornton provided valuation services
Hotels
Eircom
In excess of 20 windfarms
valuations for investment
appraisal purposes
Valuation for two leading hotel
chains operating in Ireland
Valuation services provided to
the Examiner
Energy
Hotel sector
Telecommunications
€4 billion of debt
Grant Thornton provide valuation services
Grant Thornton provided valuation services
Grant Thornton provided valuation services
Realex Payments
Valuation in respect of disposal
of business
AMCS Group
Opsona Therapeutics
Provision of valuation services in
respect of acquisitions
Fairness opinion for Series C
investment
Technology
Technology
Biomedical
Valuation services
Grant Thornton provided valuation services
Grant Thornton provided valuation services
Corporate finance advisory
We offer hands-on commercial and strategic involvement to businesses, working with
management teams to deliver sustainable improvements and accelerate growth in enterprise value.
Raising equity and debt funding
Raising funds to help support your business’ growth is fundamental to financing a transaction.
We are experienced in helping management teams and corporate and private shareholders raise private
equity and/or debt finance to support growth and potentially release value. We will help guide you
throughout the whole process, from identifying the most appropriate forms of finance, through to the
final negotiations.
Debt refinancing and debt advisory
The funding landscape for mid-market corporates has fundamentally evolved with
the emergence of non-bank lendors and access to a variety of new funding products.
Through challenging your assumptions and analysing the debt capacity of your
business, including providing support in modelling where necessary, we are able to
tackle any areas for improvement, identify execution risks and structure a funding
package that best suits your strategic ambitions.
Business planning and financial modelling
Our team has significant experience in developing business plans and can
assist with preparing business plans in line with management and/or investors
requirements in mind. We help prepare financial projections and models,
and provide financial model reviews, for use in M&A situations, cash flow
management, feasibility analysis and other operational contexts.
Competition services
Our competition services team can provide support in
monitoring trustee roles and for competition related activities.
We have extensive experience in acting as monitoring trustee,
having acted for regulators at a national and European level.
We can also provide support to entities under a monitoring
framework, providing advice or assisting in implementing
structures and related project management, including,
hold-separate structures and complex separation projects,
through the period of the remedies.
Our advisory services credentials
European Commission
The Competition and
Consumer Protection
Commission
Monitoring trustee to European
Commission in respect of BOI,
PTSB and IBRC's state aid
commitments and restructuring
plans
Provided monitoring trustee and
advisory services
Competition
Property sector
Grant Thornton provided competition services
Grant Thornton provided competition services
Grant Thornton provide advisory services
Renewables
Leading Irish project finance
advisor for onshore wind projects
Intertrade
National Asset Management
Agency
Independent business reviews
and financial monitoring
reviews in respect of borrower
connections
DeliMeats
Coordinator for Funding for
Growth programme
Corporate finance advice
Grant Thornton provide advisory services
Grant Thornton provided corporate finance advice
Energy
Grant Thornton provide project finance advisory
services
Keelings
Corporate finance advice to
the board
SIAC Construction
Corporate finance advice to the
examiner
Zeus Packaging Group
Corporate finance advice
Construction and engineering
Grant Thornton provided advisory services
Quinn Insurance
(under administration)
Grant Thornton provided advisory services
Property Group
Corporate finance advice to
the joint administrators on
divestment process
Lead advisor to property
group in connection with debt
refinancing process
Insurance
Property sector
Grant Thornton provided advisory services
Grant Thornton provided debt advisory services
Grant Thornton provided corporate finance advice
Grant Thornton
Provide corporate finance advice
for stressed restructuring cases
Grant Thornton provide advisory services
About Grant Thornton
Grant Thornton is Ireland’s fastest growing professional services firm. We deliver solutions to all
business challenges. Clients choose us because the breadth of financial and business services they need
is available, delivered innovatively and always to the highest standards. At Grant Thornton we are
committed to long term relationships. We are different. We are Grant Thornton.
Michael Neary
Partner
T +353 (0)1 6805 797
E [email protected]
Patrick Dillon
Partner
T +353 (0)1 6805 793
E [email protected]
Richard Gillan
Partner, Belfast
T +44 (0)28 9587 1128
E [email protected]
Gearoid Costelloe
Partner, Limerick
T +353 (0)61 6079 92
E [email protected]
www.grantthornton.ie
Jim Mulqueen
Partner
T +353 (0)1 4182 067
E [email protected]
@GrantThorntonIE
Offices in Dublin, Belfast, Cork, Galway, Kildare, Limerick and Longford.
© 2016 Grant Thornton Ireland. All rights reserved. Authorised by Chartered Accountants Ireland (“CAI”) to carry on investment business.