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more- RSM's Corporate Finance division, the 6th largest global network in audit and consulting, announces a 20% growth in its revenue for 2020 compared to 2019.
- The division notably completed over 40 Transaction Services assignments in the Mid-Cap segment.
- It also recorded significant growth across all its services – Valuation, Business Modelling, Capital Restructuring – as a consultant for both unlisted and listed segments.
In 2020, the teams notably completed assignments for major groups such as Rexel, Groupe Harmonie, and Caisse des Dépôts et Consignations (CDC), as well as direct or indirect investments from investment funds (Ardian / Adenia / Advent / Goldman Sachs / Le BaronBrown / Fosun / Pechel Industries / Notus).
As an atypical year, the division’s activities focused primarily on Q1 and Q3, following a period of uncertainty during the first lockdown in Q2.
The Corporate Finance division at RSM is involved at every key stage of Mid-Cap deals: bid support/exit readiness, buyer/seller due diligence, and Negotiation/SPA.
It has developed a tailored approach based on the evolution of the transactions, notably with the support of technical tools and deliverables focused on key deal metrics. The value proposition of Transaction Services consists of seamlessly integrating the capabilities of Valuation & Business Modelling, Management packages, Legal & Tax Structuring, and Capital Restructuring according to the encountered needs.
Support for complex mid-cap deals
This year, the teams worked on a variety of situations, including:
- Attempted friendly takeover & PtoP on a listed asset of €200 million;
- Acquisition of small caps/start-ups by listed groups and modelling of management packages;
- Feasibility study for refinancing a multi-site group in difficulty;
- Valuation of multi-scenario assets in the context of delisting;
- Establishment of management packages during a Series B fundraising round;
- Capital restructuring: post-acquisition group restructuring and large-cap LBO restructuring;
- Buy-side due diligence (In-bound/Outbound) – Asia/Africa/Europe/North America.
"As the right hand of company executives, we assist them in managing their strategic financial decisions. This year, the health crisis has acted as a catalyst for many executives: some decided to step down, while others chose to partner with new financial investors. These decisions created new investment opportunities," emphasizes Eric Fougedoire, Partner in Corporate Finance / Transaction Services at RSM.
A majority of international transactions
The division completed more than 45% of its assignments for foreign clients or for French clients in an international context. Of the 40 assignments completed, nearly two-thirds were in the €5-100 million segment, with 32 deals in continental Europe.
In total, one-third of the division's assignments, representing nearly 40% of the revenue, were completed in collaboration with the international RSM network, particularly in Asia, North America, and Europe. These assignments were consistently carried out with the creation of ad hoc teams to address client needs and cover local specifics.
RSM - CORPORATE FINANCE
The Corporate Finance division has more than 1,000 employees across 120 countries. In France, it includes 3 partners and 25 professionals, based in 5 economic hubs: Paris, Lyon, Nantes, Strasbourg, and Montpellier. The team supports companies and their executives, investment funds, as well as investors and shareholders, both in France and internationally, to secure and validate their financial decisions: transaction, valuation, complex modelling, and restructuring.
