CPDStore Ireland

A lot of Irish SME owners are coming up to retirement with no succession plan in place, and at the same time private equity and trade buyers are more active in the Irish market than I have seen in years. Bank lending has also changed a good deal, and there are far more funding options open to SMEs now than just the pillar banks. Accountants are nearly always the first person an owner rings when they are thinking of selling, buying or raising money, but most practitioners only see these deals now and again. This session covers how SME deals and fundraisings actually run in practice, based on real transactions. Attendees will be better able to advise clients with confidence, avoid the mistakes that cost clients money, and spot where corporate finance work could become a fee-earning line for their own practice.

Tom Murray will cover the following topics during this presentation:

• The SME M&A process from start to finish: how deals come about, heads of terms, due diligence, SPA basics including completion accounts v locked box, and why deals fall over
• Valuing the SME: the methods actually used in practice, EBITDA multiples, normalised earnings, quality of earnings adjustments, and how earnouts and deferred consideration bridge valuation gaps
• Debt fundraising: the current Irish lending landscape, pillar banks and non-bank lenders, what lenders look for, and typical terms, covenants and security
• Equity fundraising: private equity, EIIS, family offices, what investors expect, dilution, and getting a business investor-ready
• The accountant's role: tax touchpoints (CGT, retirement relief, entrepreneur relief), where the accountant adds most value, red flags, and how to scope and price this work

By attending this session you will understand how the sale or purchase of an Irish SME is structured and executed, be able to prepare a preliminary valuation and explain how buyers will look at a client's business, understand the debt and equity funding options currently available to Irish SMEs, know the key commercial and tax issues that arise on deals and when to bring in specialist advice, and be able to identify corporate finance opportunities within your own client base.

Accountants in practice advising owner-managed businesses, finance directors and controllers in industry, tax advisers dealing with disposals and reliefs, auditors with clients heading for a sale or fundraise, and business owners thinking about a sale or fundraising in the next three to five years.

Course Level: Intermediate

It assumes a working knowledge of financial statements but no transaction experience, and is practical rather than theoretical, with Irish examples throughout.