Sale of Swiss flexible packaging companies Elag Verpackungen AG and Elsaesser Verpackungen AG to Ampac, USA
Role of Proventis Partners AG, Zurich: Exclusive financial advisor to the owner throughout the sales process
Sale of proofreading, adaptation and translation company WIENERS + WIENERS GmbH to Caldec Beteiligungen GmbH
Role of Hartmann Zillmer Corporate Finance, Hamburg: Exclusive advisor to the owners throughout the sales process
Acquisition of Medical Biomaterial Products GmbH by a family holding through a Management Buy-In
Role of Hartmann Zillmer Corporate Finance, Hamburg: Advisor throughout the acquisition process and realization of acquisition financing for the buyers
Private Investors acquire 100% of the shares of medi-cine medienproduktions GmbH from CompuGroup Holding GmbH
Role of von Proventis Partners Munich: Exclusive buy-side advisor in the acquisition process
Reviva AG acquires the majority of the shares of the Swiss tradition company Faude & Huguenin AG Medals and coins
Role of Proventis Partners Zurich: Exclusive sell-side advisor and support of restructuring in the Board of Directors
Dominant valuation methodology in Anglo-Saxon countries
Increasing application by consulting companies and investment banks (for cross-border company transactions)
Significant importance as a strategic instrument for the analysis and management of share holder value (for the purpose of intern corporate evaluation)
Advantages
Internationally accepted valuation methodology
Clear statement on the fundamental value of company
Independence from accounting standards/implications due to its payment-based approach
Includes the financial structure of the company/transaction (and therefore the leverage effect)
Future oriented approach
Disadvantages
Complexity of the calculations involved
Projection on the basis of subject assessment and expectation of future of business
Cash flows sometimes only available on an indirect basis
Calculation
WACC = Weighted Average Cost of Capital
Sample
The projection of future cash flows is based on the following assumptions:
The Netto Free Cash Flow (NFCF) increases in the next 5 years by 5% annually, starting from an initial value of EUR 4,260,000 of the last period
Afterwards, NFCF remains constant.
For the sake of simplicity, a WACC* of 9,0% p.a. is applied
