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Mergers & acquisitions Consultancy Who are we? Info request

 

Who are we?…

Trelawney Associates is a corporate finance boutique with a difference. As principals, we have strong business and industrial, as well as financial, backgrounds. We concentrate on the technology sector.

We work with businesses and management teams to achieve their strategic objectives. On the one hand, we arrange Acquisitions, Disposals, Mergers, and Joint Ventures/Partnerships. On the other, we raise finance from Venture and Development Capital Institutions, Private Investors and Banks. In some transactions we do both.

Our origins go back to 1991, and we are based in the UK in London and Oxfordshire. We have partners in the USA and continental Europe to reflect the international nature of the markets we serve. We are experienced in cross-border activities.

Where do we focus?…

Publicly quoted clients

Private clients

Technology businesses

Deals with a UK component

Deal sizes in the range £2m to £100m

What is our approach?…

First and foremost, whether for an acquisition, a disposal or a fund raising we set out to understand the business thoroughly, its strengths and its weaknesses, its stance in the market and its performance. From this foundation, we can test the strategy and create the “vision” essential to underpinning any transaction.

Our experience is invaluable to this process. We have worked in and with engineering, electronics, telecoms, IT, instrumentation, aerospace, defense, chemical, pharmaceutical, life sciences, healthcare and venture capital companies. Our operational roles have been in general management, business development, marketing and operations. Principals lead every assignment.

When required, we can call on our broad network of professional contacts and Associates with particular skills or sector knowledge in the UK. We work closely on cross-border transactions with Associates in France, Germany and the USA. .

At an early stage we agree a brief for the assignment. This covers an outline of the current position of the business, the tasks to be performed, milestones in the timetable, modus operandi, the people involved on our side and the fee basis. Once started, we work closely with the clients in all phases and keep them fully informed of our progress.

On any assignment we act for only one side of the transaction. We are also very mindful of the necessity to take all steps to protect the confidentiality of the transaction as far as possible.

What do we do?…

Our aim is to provide our M & A clients with well researched ideas. Ideas result from a combination of our good contacts, industry knowledge, research and inspiration. Our business is to turn these ideas into reality.

In acting for Vendors we:-

  1. Prepare the vendors and the business for the sale process

  2. Thoroughly understand the business for sale and identify information required

  3.  Prepare a succinct Sale Memorandum, Blind Profile and Confidentiality Agreements

  4. Research, identify and qualify potential buyers

  5. Recommend the sale strategy to match the vendors objectives

  6. Manage the process - information flow, meetings, indicative bids, offers, etc

  7. Assist in structuring and negotiating the transaction

  8. Assist in the due diligence and legal processes to completion

In acting for Acquirors we:-

  1.  Identify targets with a potential strategic fit

  2. Arrange the introduction of the parties through our relationship with the vendor

  3.  Manage the interface between the parties to the extent desired by the client

  4.  Assist in structuring and negotiating the transaction

  5. Assist in the due diligence and legal processes to completion

In raising Finance for clients we look to the most appropriate sources of funds for the client’s need, be it Venture Capital, Private Investors or Debt. We work on start-ups, expansion and replacement capital, MBO’s and MBI’s, rescues and turnarounds and restructurings. Having worked in the venture capital industry and with private equity sources, we have excellent insight into the criteria and processes the fund providers apply when assessing investment opportunities. We can give you an informed outsider’s view of your proposal, apply our skills to find the right partner and help you negotiate the right deal.

In the Fund Raising process we:-

  1. Assess the proposal and advise and assist in the production of the Business Plan

  2. Introduce the opportunity to a limited range of Venture Capitalists and Senior Debt providers whose criteria match the proposal

  3. Manage the process - information flow, meetings, offers, legals, etc

  4. Assist in structuring and negotiating the transaction both for the VC and the debt components

  5. Assist in the due diligence and legal processes to completion

How are we rewarded?…

Our fees are mainly success related based upon a percentage of the deal size which reflects the size and complexity of the transaction. A smaller component is paid in the early stages of a transaction in the form of commitment fees, fixed fees and/or retainers. When acting on disposals, in raising finance and in acquisition searches, the fixed fees are related to milestones in the process. When bringing acquisition opportunities to potential purchasers, the commitment fee reflects the work undertaken to date and the opportunity cost of committing to work for one client.

Why do we make the difference?…

It is a rare transaction that does not create strong tension between the negotiating parties or is not blown off course by some unexpected event or reversal. The situation can become emotional and complex. It is then frequently easier for an intermediary to explore the issues and options, and open up a path through the difficulties.

Our role as intermediaries can be summarised in six attributes: initiative, tact, imagination, tenacity, trust and discretion. Initiative and tact keep the deal on the rails, imagination and tenacity overcome the inevitable obstacles, and trust and discretion maintain confidence and confidentiality throughout the process. The goal is a deal beneficial to both parties - if it isn't, it won't happen - and the best possible terms for our client.

For more information contact Trelawney on: info@trelawney.com

 

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Last modified: January 25, 2001