Insights

Selected research, articles and analysis from our senior advisors.

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Risks, Reps and Warranties

Managing Risk in an M&A Transaction For all their potential benefits to both buyers and sellers, acquisitions are risky. Broadly, the risk associated with any M&A transaction falls into three categories: Financial. A buyer may not understand the true financial picture and prospects of a business. Value may change materially during or shortly after the […]

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Preferred Valuation Technique: Discounted Cash Flow

In the previous article we examined the popular EBITDA Multiple approach to estimating a company‚Äôs value. Discussing its benefits and limitations, we concluded that while the EBITDA Multiple worked as a starting point, serious buyers and sellers needed a more nuanced valuation technique like Discounted Cash Flow (DCF). Both methods determine the value of a […]

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Valuation 101: the EBITDA Multiple

Last month we took a high-level look at different approaches to valuing a company. We noted that, because of their ability to reflect the future economic benefits of an ongoing business, cash flow methodologies are most commonly used in business valuation. These include applying a multiple to an income or cash flow number, capitalizing cash […]

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Overview of Valuation Methods

Correctly valuing a business is central to any successful M&A transaction. As much art as science, valuation strives to quantify the financial benefits of owning the business today and in the future. Here we kick off a series of articles examining different valuation approaches, limitations, and best practices. This piece introduces the core principles of […]

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