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moreThe Transaction Advisory Service (TAS) team at RSM France recorded strong growth in its activities for 2021.
- RSM France's Transaction Advisory Service team – including transactions, valuation and modeling, group restructuring, and litigation – announces a double-digit growth in revenue for 2021, marking the second consecutive year of growth.
- These results are part of RSM's global and European growth dynamics in Transaction Advisory Services, as RSM ranks as the 6th largest global network in audit and consulting.
- These results also strengthen RSM France's position in the Mid-Cap cross-border market, with nearly 90% of transactions ranging from €5 million to €200 million and involvement in 23 different countries.
The Corporate Finance / Transaction Services team at RSM France, led by Benoit Coustaux and Eric Fougedoire, partners at RSM, completed over 50 deals in 2021, both in France and internationally, reflecting a 35% increase compared to 2020, and an average annual growth rate of over 20%. The team maintained a transformation rate of over 70% for the operations it was involved in.
The completed transactions demonstrate a significant international exposure for the team, which operated across 4 continents and in 23 different countries, particularly in the Americas, China, and Western Europe, which represent 70% of the value of the deals.
Engagement with key players in the mid-cap segment
In 2021, RSM worked equally with investment funds, businesses, and strategic investors. The team collaborated alongside investment banks and key players in the Mid-Cap segment. It also reinforced its presence in high-growth sectors such as technology, healthcare, specialty industries, and B2B services.
The team’s involvement included:
- Assisting large publicly listed companies and businesses backed by private equity funds in build-up transactions involving mid-cap targets and start-ups to complete their business portfolio or expand their geographical presence;
- Operating in both negotiated and competitive transaction environments;
- Defending investors in competition with other investors;
- Engaging in direct negotiations.
A multidisciplinary team
The Corporate Finance / Transaction Advisory Services team consists of around twenty professionals. It possesses solid financial expertise for data analysis and experience in dealing with the complexities encountered in the Mid-Cap sector.
“We recruit very selectively from diverse backgrounds (university, finance-accounting, engineering) with prior experience in audit and a strong personality. They must be capable of working on missions in France and internationally, be proactive, and eager to take on responsibilities quickly. Within our team, decision-making processes are short, and we support each individual’s personal and technical development. The team is clearly encouraged to step out of its comfort zone,” emphasizes Eric Fougedoire, partner at RSM.
A European and International RSM Task Force
These strong results also mirror those of RSM Transaction Services in Europe, which recorded 276 deals in the first half of 2021, averaging 2 deals closed per day. To strengthen synergies within the network, RSM relies on the European Transaction Task Force, which maintains close links with the United States and Asia. This one-stop shop consolidates business relationships, enables the creation of ad hoc teams based on client needs, and ensures common standards across all continental European countries and the United Kingdom.
A targeted data approach
To produce focused "deal metrics" reports, the team conducts in-depth work on the quality of data:
- Structuring or constructing financial data in an imperfect environment: (re)constructing normative working capital requirements (WCR) over 4 years, etc.;
- Highlighting / constructing sector-specific operational indicators;
- Making financial and operational indicators understandable in relation to the business models and fundamentals of the company.
This approach, especially in a "family business/family-run" environment, helps to confirm the company’s financial performance and business model while meeting the expectations of investors and financial partners in both stable and uncertain environments. It also allows the team to make tailored proposals and counter-proposals based on the financial situation and client expectations.
For 2022, the Corporate Finance / Transaction Services team aims to strengthen its relationships with Mid-Cap financial intermediaries. It also plans to recruit several new employees to support its expected growth along the same trajectory.
