Adquisition of Companies

Adquisition of companies, divisions or activity lines

That is why IMAP Albia Capital fosters the design of a Corporate Development Strategy among its clients before starting the process to search for the potential targets so that the buyer knows what it wants to buy, what product(s) and technology it wants, and what current and potential markets there are.

Once these objectives have been defined, we screen the target markets for the company, supported by the IMAP international network, identifying the potential targets and prioritising them based on their strategy and degree of contribution.

After prioritising the candidates, or when the purchase order is for a specific company, we begin the initial contact, where IMAP Albia Capital acts as the negotiator, protecting the identity of the company’s potential buyer, and start the talks to assess the other party’s interest and tell them of the advantages of the operation for the target and its shareholders.

If we infer from the preliminary talks that the analysis phase can be started, a non-disclosure agreement (NDA) is signed between the parties. In this phase, IMAP Albia Capital finds out more about the target company by analysing its products, markets, competition, competitive positioning, technology, organisation, main processes, production and financial situation. This analysis is shared and cross-checked with the client, with which we draft a plan for the target company, based on which an assessment will be made for its acquisition.

The next phase consists of defining the bid strategy based on the analysis made, the situation of the company and its shareholders and other internal and external factors, which are specified in a non-binding offer.

The negotiating process starts with the issue of the bid; the main parameters of the potential company acquisition such as the price, conditions, guarantees, confidentiality and non-competition will be negotiated. This is usually a long and psychologically exhausting process which requires a lot of time, effort and exhaustion, which is why IMAP Albia Capital assumes most of the effort, relieving the client of its consequences and focusing on managing its current business. If an agreement is reached for the non-binding offer, it is signed by both parties and the due diligence phase starts.

In the due diligence phase, several professionals (auditors, tax, labour and commercial lawyers, etc.) will be involved. IMAP Albia Capital will coordinate them and direct them towards the points identified as being relevant in the preliminary analyses.

Once the due diligence is completed, we begin the last phase of a company acquisition by negotiating the conclusions of the aforementioned audit and drafting all the necessary legal documentation (contracts, shareholder agreements, side letters, etc.), in which IMAP Albia Capital collaborates closely with the client; this phase is completed when the purchase contract agreed by the parties is converted into a public document.

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