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more- For the third consecutive year, RSM’s Transaction Advisory Services (TAS) team announces a double-digit growth in its revenue for 2022.
- These figures are part of a global and European growth trend for RSM’s Transaction Advisory Services activities, part of the 6th largest global network of audit and consulting.
- RSM France strengthens its position in the Mid-Cap cross-border market, with 65% of assignments completed in an international context, spanning 25 different countries.
Led by RSM partners Benoit Coustaux and Eric Fougedoire, the Corporate Finance/Transaction Services division of RSM France completed over 80 deals in 2022, both in France and internationally. This result marks a 14% increase in value compared to 2021. Despite an unstable context, the division maintained a conversion rate of over 60%. All operations conducted demonstrate the international scope of the division, which operated across 4 continents and 25 different countries.
A Global Positioning Dedicated to Key Players in the Mid-Cap Segment
In 2022, RSM collaborated in nearly equal proportions with investment funds, companies, and strategic investors, as well as with investment banks and various players in the Mid-Cap segment. The Corporate Finance/Transaction Services division also strengthened its presence in strategic sectors such as technology, healthcare, agribusiness, and B2B services.
“2022 confirmed the relevance of RSM’s Mid-Cap positioning with acquisition projects and capital restructuring for investment funds and companies, due to an active market for transactions under 100 million euros. We are seeing an opportunistic buy & build strategy around a platform, even in geographically distant operations,” analyzes Eric Fougedoire, RSM partner.
Thus, RSM France’s Corporate Finance/Transaction Services division was able to assist investment funds (BlackRock, Oaktree, HIG, 21 Invest, Berkshire Partners, Indigo Capital) primarily in capital restructuring operations.
Additionally, the division collaborated with companies (BIC, SMCP, InVivo, Astek) during their strategic acquisition operations.
A European and International RSM task force
The continued growth of RSM France mirrors that of RSM Transaction Services in Europe and globally. The RSM network relies on the European Transactions Task Force to enhance synergies and create ad hoc teams tailored to clients' needs. This consolidation of business relationships allows for closer alignment with client expectations and guarantees common standards across all countries in continental Europe and the UK.
ESG and cybersecurity as new challenges
The uncertainty caused by geopolitical instability, skyrocketing inflation, supply chain issues, and market volatility will impact the acquisition market in 2023. However, this impact should be put into perspective:
“On the Mid-Cap segment, 2023 is expected to remain as active as 2022. Given the economic context and rising interest rates, valuation multiples are anticipated to be lower than in 2022. But above all, ESG and cybersecurity issues are increasingly present in our clients’ concerns. These topics are expected to grow,” emphasizes Eric Fougedoire.
For 2023, the Corporate Finance / Transaction Services division continues its efforts to attract talent by launching a Graduate Program starting in the fall of 2023, while continuing its targeted recruitment of experienced professionals looking to join a structure that encourages responsibility, autonomy, and client exposure.
The division has established a multidisciplinary TAS structure with the recruitment of Transaction Tax, Legal, and Human Resources teams, providing a "one-stop shopping" service offering to Corporate and Private Equity clients.
RSM enters 2023 with confidence at the national level, focusing its own development around its offices in Paris, Lyon, Nantes, Strasbourg, and Montpellier, while also benefiting from the growth of the international network, which is also experiencing double-digit growth across all global regions.
