Course Details

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. 


Tom Murray covers 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

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CPD Course Speaker

Friel Stafford

Tom Murray

Tom qualified as a Chartered Certified Accountant (ACCA) in 1997 whilst working with Chase Manhattan Bank. Tom has over 20 years experience in accounting and business roles.

He is one of Ireland’s most experienced corporate recovery and turnaround practitioners and was one of the first Personal Insolvency Practitioners licensed in Ireland.

He also is an experienced Corporate Financier with particular interest and expertise in the area of equity and debt fund raising, and the buying and selling of businesses.

He is heavily involved with the ACCA accountancy body and is a past President of ACCA Ireland. He represented ACCA Ireland at the ACCA International Assembly in 2011. He was nominated in January 2021 by ACCA to represent it on the the CCABI insolvency Committee.

He is authorised to act as a Personal Insolvency Practitioner by the Insolvency Service of Ireland.