MERGER & ACQUSITIONS (M&A)

Through developments in financial markets and new products, technological innovations , developments in transportation and increasingly liberal economy policies, globalization has gained momentum. In addition, high consumption trends and similar tastes all over the world have resulted in low product life-spans. Customers , being “the kings”, have brought profit margins down and in order to save costs , companies have begun to shift their operations to new international markets. This is true for Turkey as well. The European Union accession process, improving macro economic conditions, the restructuring of the local finance sector, increasing privatization and the transformations our country is experiencing in many other areas have made Turkey a rising star for foreign investments.
As in the rest of the world, strategic partnerships and acquisitions are becoming more and more prevalent in Turkey.
In local or foreign acquisitions and mergers as in Joint Ventures or Privatizations, IPF’s primary principle is to provide consultancy services urging a company to make correct business decisions which should be implemented and applied in accordance with strategic plans and optimum financial structures.

IPF’s primary services include but are not limited to evaluating the current condition of the company with regard to a possible partnership or acquisition, determining the range of the company’s value, investigating and contacting potential targets, assessing both the synergy expected to emerge after the merger and the new corporate structure, providing – synchronous with legal, tax and audit consultancy – consultancy to shareholders in finalizing the merger or acquisition, assisting them in the preparation and control of necessary documents and coordinating all data-room preparation and due dilligence efforts, consulting them on the shareholding structure and strategic planning of the commercial entity that will emerge following the merger or acquisition…
To prepare for a sell-side campaign, we analyze the client’s business in great depth, and put together compelling presentations. Offering documents and management presentations may be customized to match the profiles of identified buyers Strategic fit considerations are explicitly addressed to focus the negotiations on non-financial benefits, and to realize premium prices. The action calendar is tightly and discreetly managed in order to minimize disruption to the client’s business, and to produce the best results in terms of competitive bids. As part of our work we also establish the valuation parameters; identify, investigate and target prospective buyers; and help negotiate deal terms and deal structure.
Facility to sell your company to its maximum value and find your right strategical partner in international markets.
We advise individual, corporate and other owners on the sale of their businesses or finding the right investor for their projects drawing on our global M&A database of strategic and financial buyers, then facilitate the sale process through closing.
On the sale of a business, we work with the owners to establish the key priorities, agree the timetable, provide a realistic valuation and manage the transaction from start to finish.
After a short break during the financial crisis, M&A activity is back in full force, and expected to increase further due to the changes in the economic environment created by the global upheaval. M&A transactions can be very successful if executed properly – but spectacular failures are at least as common as success stories.
To avoid disappointments on both side, a careful preparation of the relevant business plan (business plan modeling), and a detailed analysis of the potential partner (due diligence), are essential. For the valuation of the deal, an initial estimate of the potential company value helps to put the deal in perspective. The most relevant work, however, comes after a deal – integrating the businesses, and monitoring and managing the proper execution of the agreed business plan (post deal services).
IPF provides services for both the buying and the selling parties, and it provides such services as:
• Identifying common objectives and mutual benefits
• Accomplishing cost-benefit analysis, due diligence and evaluation studies
• Organizing the parties and
• Building the necessary relationships to find the funds required for the sales transactions
Our team-based approach allows us to maintain the highest level of quality in developing and executing on our client’s transactions.
Typical task within the scope of an advisory mandate include;
On the Buy-side;
Pre-transaction phase
• Market surveys
• Target search
• Contacting of target company (and/or owners)
Transaction phase
• Entire process management (incl. management of other advisors such as lawyers, accountants, PR advisors, etc.)
• Company valuation
• Preparation of transaction-related documentation
• Negotiation support

On the Sell-side
Pre-transaction phase
• Analysis of value-enhancement through divestitures
• Preliminary screening of potential acquirors
Transaction phase
• Process Management (incl. management of other advisors such as lawyers, accountants, PR advisors, etc.)
• Preparation of management presentations
• Preparation of transaction-related documentation (information memorandum, procedure letters, etc.)
• Company valuation
• Negotiation support

From the early planning stages through the closing of an M&A transaction, IPF provides assistance from our top-level partners in the sale, merger or other disposition of middle-market and growth companies.

IPF offers broad experience and a high affinity in advising family-owned enterprises. More than half of the mandates we manage are on behalf of medium-sized companies and their owners.
Due to the in-depth transaction experience of our partners, we can accept mandates from nearly all industry sectors.
In mergers & acquisitions, IPF identifies, structures and executes a wide range of cross-border transactions. Our business network, coupled with our unique understanding of Turkish economy, industry and culture, helps us consistently deliver good service to our clients.

Buy-side and sell-side advisory on mergers & acquisitions and disposals,
• Identifying target companies within a specific industry in Turkey for buy-side or potential strategic or financial investors for sell-side mandates and initiating contacts,
• Working on commercial due-diligence to evaluate the financial and operational condition of businesses
• Preparation of information memorandum and business plan,
• Conducting valuation by building a financial model and using trading and transaction multiples,
• Advising on negotiation of price and commercial terms,
• Co-ordinating the work of other advisers, including lawyers, accountants, environmental or technical consultants and tax specialists,
• Working with other advisors in preparation and negotiation of agreements (including letter of intent, sale and purchase agreement, shareholders agreement, and option agreement as may be applicable), and
• Advising on the strategy and mechanics for implementing the sale and purchase.