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South East Asia - 2019 M&A Summary

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Analysis of recent transactions in South East Asia across four major Industries detailing on Transaction Multiples (Revenue & EBITDA), Multiples Chart, Active Buyers & Transaction Data.

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South East Asia - 2019 M&A Summary

  1. 1. page A L P S V E N T U R E P A R T N E R S 1 South East Asia! 2019 M&A Summary! This report is intended solely for the informational use and is not intended to be and should not be used by any other person or entity. No other person or entity is entitled to rely, in any manner or for any purpose, on this report.
  2. 2. page A L P S V E N T U R E P A R T N E R S 2 Table of Contents M&A Summary 03 Technology 05 Retail 07 Healthcare 09 Real Estate Industry Insights 12 Online Retail 14 Mobile Apps 16 Software 18 Real Estate 19 Healthcare Providers
  3. 3. page A L P S V E N T U R E P A R T N E R S 3 M&A Summary – Technology[1] Valuation Summary Total Deal Value ($mm)[2] $20,032 Average Deal Value ($mm) $514 Average TEV/Revenue 2.2x Average TEV/EBITDA 7.9x Average Day Prior Premium (%) 24% Average Week Prior Premium (%) 25% Average Month Prior Premium (%) 32% [1] Industries in the analysis include IT Consulting and Other Services, Technology Distributors, Application Software, Internet and Direct Marketing Retail, Technology Hardware, Storage and Peripherals, and Internet Services and Infrastructure [2] Only transactions with available target deal value and revenue are considered for analysis. The actual number of transactions may be more than stated. [3] Source: CapitalIQ, AlpsVP Analysis. Date Range: Jain 1, 2013 – March 25, 2019. [4] The above analysis is based on transactions with acquired entity located in Singapore, Malaysia, Indonesia, Vietnam, Philippines, and Cambodia. info@alpsvp.com (in $ Million) 2014 2015 2016 2017 2018 5 years Average Deal Value $4.7 $56.2 $298.6 $15.0 $2,677.9 $610.5
  4. 4. page A L P S V E N T U R E P A R T N E R S 4 Transaction Multiples - Technology *Source – CapitalIQ, AlpsVP Analysis 1.8x 2.4x 2.3x 2.6x 2.1x 1.2x 12.1x 5.1x 6.4x 7.5x 8.3x 0.0x 2.0x 4.0x 6.0x 8.0x 10.0x 12.0x 14.0x 2014 2015 2016 2017 2018 2019 Transaction Multiples Average TEV/Revenue Average TEV/EBITDA Historical Multiples 2014 2015 2016 2017 2018 2019 5 years Average TEV/Revenue 1.8x 2.4x 2.3x 2.6x 2.1x 1.2x 2.2x Average TEV/EBITDA 12.1x 5.1x 6.4x 7.5x NM 8.3x 7.8x Number of transactions 7 8 11 5 6 2 info@alpsvp.com
  5. 5. page A L P S V E N T U R E P A R T N E R S 5 M&A Summary – Retail[1] Valuation Summary Total Deal Value ($mm)[2] $2,190 Average Deal Value ($mm) $95 Average TEV/Revenue 0.9x Average TEV/EBITDA 14.3x Average Day Prior Premium (%) 2% Average Week Prior Premium (%) 2% Average Month Prior Premium (%) 2% info@alpsvp.com (in $ Million) 2014 2015 2016 2017 2018 2019 5 years Average Deal Value $86.3 $37.9 $206.8 $6.1 $3.4 $249.9 $68.1 [1] Industries in the analysis include Computer and Electronics Retail, Automotive Retail, Food Retail, Apparel Retail, Drug Retail, Home Improvement Retail and Home furnishing Retail. [2] Only transactions with available target deal value and revenue are considered for analysis. The actual number of transactions may be more than stated. [3] Source: CapitalIQ, AlpsVP Analysis. Date Range: Jain 1, 2013 – March 25, 2019. [4] The above analysis is based on transactions with acquired entity located in Singapore, Malaysia, Indonesia, Vietnam, Philippines, and Cambodia.
  6. 6. page A L P S V E N T U R E P A R T N E R S 6 Transaction Multiples - Retail *Source – CapitalIQ, AlpsVP Analysis 1.0x 0.9x 0.9x 0.8x 0.6x 0.4x 14.9x 15.7x 12.5x 15.2x 12.4x 13.1x 0.0x 2.0x 4.0x 6.0x 8.0x 10.0x 12.0x 14.0x 16.0x 18.0x 2014 2015 2016 2017 2018 2019 Transaction Multiples Average TEV/Revenue Average TEV/EBITDA Historical Multiples 2014 2015 2016 2017 2018 2019 5 years Average TEV/Revenue 1.0x 0.9x 0.9x 0.8x 0.6x 0.4x 0.9x Average TEV/EBITDA 14.9x 15.7x 12.5x 15.2x 12.4x 13.1x 14.1x Number of transactions 4 9 6 1 2 1 info@alpsvp.com
  7. 7. page A L P S V E N T U R E P A R T N E R S 7 M&A Summary – Healthcare & Pharma[1] Valuation Summary Total Deal Value ($mm)[2] $5,237 Average Deal Value ($mm) $154 Average TEV/Revenue 2.5x Average TEV/EBITDA 15.7x Average Day Prior Premium (%) 28% Average Week Prior Premium (%) 30% Average Month Prior Premium (%) 35% info@alpsvp.com (in $ Million) 2014 2015 2016 2017 2018 2019 5 years Average Deal Value 38.6 703.7 171.4 22.6 53.1 12.1 197.9 [1] Industries in the analysis include Pharmaceuticals, Biotechnology and Health Care (Services, Facilities, Equipment, Supplies and Distributors). [2] Only transactions with available target deal value and revenue are considered for analysis. The actual number of transactions may be more than stated. [3] Source: CapitalIQ, AlpsVP Analysis. Date Range: Jain 1, 2013 – March 25, 2019. [4] The above analysis is based on transactions with acquired entity located in Singapore, Malaysia, Indonesia, Vietnam, Philippines, and Cambodia.
  8. 8. page A L P S V E N T U R E P A R T N E R S 8 Transaction Multiples - Healthcare & Pharma *Source – CapitalIQ, AlpsVP Analysis 2.4x 2.4x 2.2x 3.4x 2.1x 1.8x 16.9x 14.8x 14.0x 16.7x 18.3x 12.0x 0.0x 2.0x 4.0x 6.0x 8.0x 10.0x 12.0x 14.0x 16.0x 18.0x 20.0x 2014 2015 2016 2017 2018 2019 Transaction Multiples Average TEV/Revenue Average TEV/EBITDA Historical Multiples 2014 2015 2016 2017 2018 2019 5 years Average TEV/Revenue 2.4x 2.4x 2.2x 3.4x 2.1x 1.8x 2.5x Average TEV/EBITDA 16.9x 14.8x 14.0x 16.7x 18.3x 12.0x 16.1x Number of transactions 9 4 10 6 4 1 info@alpsvp.com
  9. 9. page A L P S V E N T U R E P A R T N E R S 9 M&A Summary – Real Estate[1] Valuation Summary Total Deal Value ($mm)[2] $14,111 Average Deal Value ($mm) $145 Average TEV/Revenue 6.5x Average TEV/EBITDA 17.9x Average Day Prior Premium (%) 29% Average Week Prior Premium (%) 28% Average Month Prior Premium (%) 39% info@alpsvp.com (in $ Million) 2014 2015 2016 2017 2018 5 years Average Deal Value $125.4 $201.3 $93.3 $142.8 $188.9 $150.3 [1] Industries in the analysis include Real Estate Development, Real Estate Operating Companies, Diversified Real Estate Activities and REITs. [2] Only transactions with available target deal value and revenue are considered for analysis. The actual number of transactions may be more than stated. [3] Source: CapitalIQ, AlpsVP Analysis. Date Range: Jain 1, 2013 – March 25, 2019. [4] The above analysis is based on transactions with acquired entity located in Singapore, Malaysia, Indonesia, Vietnam, Philippines, and Cambodia.
  10. 10. page A L P S V E N T U R E P A R T N E R S 10 Transaction Multiples – Real Estate *Source – CapitalIQ, AlpsVP Analysis 6.7x 4.6x 6.9x 7.5x 6.2x 18.7x 12.8x 19.3x 23.0x 15.3x 0.0x 5.0x 10.0x 15.0x 20.0x 25.0x 2014 2015 2016 2017 2018 Transaction Multiples Average TEV/Revenue Average TEV/EBITDA Historical Multiples 2014 2015 2016 2017 2018 5 years Average TEV/Revenue 6.7x 4.6x 6.9x 7.5x 6.2x 6.7x Average TEV/EBITDA 18.7x 12.8x 19.3x 23.0x 15.3x 18.7x Number of transactions 21 19 21 24 12 info@alpsvp.com
  11. 11. page A L P S V E N T U R E P A R T N E R S 11 IND UST RY INSIG HT S
  12. 12. page A L P S V E N T U R E P A R T N E R S 12 Industry Outlook [1] Source: Online Retail in Asia Pacific published by MarketLine, November 2018 [2] Asia-Pacific comprises Australia, China, Hong Kong, India, Indonesia, Kazakhstan, Japan, Malaysia, New Zealand, Pakistan, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam info@alpsvp.com Online Retail in Asia Pacific1 - Outlook The Asia-Pacific sector has grown very strongly in recent years, with 22.5% growth recorded in 2017. Growth in the forecast period will remain strong but will decelerate as the sector matures. The Asia-Pacific online retail sector had total revenues of $346.9bn in 2017, representing a compound annual growth rate (CAGR) of 24.6% between 2013 and 2017. In comparison, the Chinese and Japanese sectors grew with CAGRs of 31.1% and 11.6% respectively, over the same period, to reach respective values of $227.2bn and $42.6bn in 2017. The performance of the sector is forecast to decelerate, with an anticipated CAGR of 18.4% for the five-year period 2017 - 2022, which is expected to drive the sector to a value of $805.7bn by the end of 2022. Comparatively, the Chinese and Japanese sectors will grow with CAGRs of 20.5% and 9.7% respectively, over the same period, to reach respective values of $577.9bn and $67.8bn in 2022. $143.9 $187.4 $231.0 $283.2 $346.9 $427.0 $514.2 $618.6 $738.3 $805.7 30.2% 23.3% 22.6% 22.5% 23.1% 20.4% 20.3% 19.4% 9.1% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 0 100 200 300 400 500 600 700 800 900 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 OnlineRetailinAPACRevenue($B) Market Size ($B) Growth (%age)
  13. 13. page A L P S V E N T U R E P A R T N E R S 13 Industry Outlook [1] Source: Online Retail in Asia Pacific published by MarketLine, November 2018 info@alpsvp.com Online Retail in Asia Pacific1 - Notes The rapid penetration of smartphones and mobile internet in developing countries within the Asia-Pacific region has improved the digital literacy of these populations, stimulating the adoption of online shopping habits. China is the leading growth engine for this region, making up 65.5% of the value in 2017 - its large, young, internet-savvy consumer base is heavily engaged in online retail transactions at a similar rate to those in developed countries. What is more, the relaxing of regulation on e-commerce cross-border transactions, such as the reduction of duties in 2013, has stimulated demand for international purchases, boosting the value of the sector. Policies that encourage consumption are likely to become more prevalent in the future as the country becomes more reliant on it as a means of economic growth. Online companies such as Alibaba have been credited for transforming the landscape of online retail in China. Consumers have responded well to e-commerce which has encouraged retailers to take business online. JD.com has become a leading player in the online pureplay channel and reported revenues of $55.7bn in 2017. Other developing countries within this region remain limited in terms of internet adoption, with an even smaller portion of internet users shopping online. However, that adoption is growing at a rapid pace, spurred by the rising income of these populations and, given ample room for doing so, growth has exceeded double-digit rates. The developed sectors of Japan, Australia, and South Korea have further added to the growth of the sector, as the penetration of online shoppers has almost peaked in these countries, leading to maturity. The electrical & electronics retail segment was the sector's most lucrative in 2017, with total revenues of $106bn, equivalent to 30.6% of the sector's overall value. The apparel retail segment contributed revenues of $80.0bn in 2017, equating to 23.1% of the sector's aggregate value. Electrical items lend themselves well to online retail. The large size of items such as fridges, washing machines, and TVs means that home delivery is often a better option than transporting from the store. Electrical goods tend to be high- ticket items that consumers invest a lot of money in because they are expected to last a long time. What is more, apparel retail has recorded remarkable growth, largely attributed to supply means as a handful of large pure online apparel retailers have successfully enticed consumers across Southeast Asian countries.
  14. 14. page A L P S V E N T U R E P A R T N E R S 14 Industry Outlook [1] Source: Mobile Apps in Asia Pacific published by MarketLine, December 2018 [2] Asia-Pacific comprises Australia, China, Hong Kong, India, Indonesia, Kazakhstan, Japan, Malaysia, New Zealand, Pakistan, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. info@alpsvp.com Mobile Apps in Asia Pacific1 - Outlook The mobile apps market in the Asia-Pacific region is expected to speed up in 2018 due to strong growth in the two largest regional markets, China and Japan. The prevalence of developing economies in the region means many markets are experiencing rapid growth, helping to boost market value despite the dominance of China. As markets across the region begin to saturate, app developers will find it harder to grow revenues, slowing the market. The Asia-Pacific mobile apps market is expected to generate total revenues of $189.8bn in 2018, representing a compound annual growth rate (CAGR) of 11.1% between 2014 and 2018. The performance of the market is forecast to decelerate, with an anticipated CAGR of 7.7% for the five-year period 2018 - 2023, which is expected to drive the market to a value of $275.3bn by the end of 2023. Comparatively, the Chinese and Japanese markets will grow with CAGRs of 9.3% and 6.7% respectively, over the same period, to reach respective values of $136.4bn and $60.6bn in 2023. $124.7 $133.2 $150.9 $165.9 $189.8 $209.9 $228.0 $244.9 $261.6 $275.3 6.8% 13.3% 9.9% 14.4% 10.6% 8.6% 7.4% 6.8% 5.2% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% 0 50 100 150 200 250 300 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 MobileAppsinAPACRevenue($B) Market Size ($B) Growth (%age)
  15. 15. page A L P S V E N T U R E P A R T N E R S 15 Industry Outlook [1] Source: Mobile Apps in Asia Pacific published by MarketLine, December 2018 info@alpsvp.com Mobile Apps in Asia Pacific1 - Notes The rapid penetration of smartphone and mobile internet in developing Asian countries has been the growth-source of the Asia-Pacific market in recent years. The Chinese and Indian markets - as well as other emerging markets - have witnessed a boom in demand for apps, recording double-digit growth rates. On the other hand, the growth of developed markets such as the Japanese and the South Korean markets was less impressive amid already high penetration of smartphones and mobile internet, which implies a relatively mature penetration of apps. Furthermore, these markets are mainly driven by high monetization rates, with demand for gaming apps inducing that trend. The rising penetration of smartphones in India has induced demand for apps in recent years. The penetration of apps also hiked per individual, in line with the increasing engagement of Indian consumers with their mobile phones. This has, in turn, led to the surge of mobile advertising expenditure which was doubled in 2016, compared to one year earlier. The browsing/WAP segment is expected to be the market's most lucrative in 2018, with total revenues of $129.7bn, equivalent to 68.3% of the market's overall value. The games segment will contribute revenues of $11.7bn in 2018, equating to 6.2% of the market's aggregate value. The rising penetration of apps, in line with a still emerging penetration of smartphones and mobile internet in certain countries will continue to drive the growth of the Asia-Pacific market over the next few years. However, that growth will be weaker than in recent years as the penetration of apps in the Chinese market, which has led growth for the whole Asia-Pacific market, will evolve at a slower pace. This is due to the fact that much of the smartphone and mobile internet adoption has already been realized in this country, as well as in developed markets, with demand for freeware apps entering the maturity stage. Mobile ad spending has risen in recent years, accounting for approximately two-thirds of total advertising expenditure in China. Then, in-app ad spending accounts for almost the total of mobile ad spending in China, with this figure also being above the global average. In these regards, apps are a valuable tool for advertisers/content publishers, and simultaneously advertising is a valuable source of income for app developers in this market.
  16. 16. page A L P S V E N T U R E P A R T N E R S 16 Industry Outlook [1] Source: Software in Asia Pacific published by MarketLine, February 2019 [2] Asia-Pacific comprises Australia, China, Hong Kong, India, Indonesia, Kazakhstan, Japan, Malaysia, New Zealand, Pakistan, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. info@alpsvp.com Software in Asia Pacific1 - Outlook The Asia-Pacific software market has experienced strong and stable growth in recent years. The market is forecast to accelerate until 2023. The Asia-Pacific software market had total revenues of $125.9bn in 2018, representing a compound annual growth rate (CAGR) of 11.3% between 2014 and 2018. In comparison, the Chinese and Japanese markets grew with CAGRs of 15.3% and 7.4% respectively, over the same period, to reach respective values of $32.4bn and $45.5bn in 2018. The performance of the market is forecast to accelerate, with an anticipated CAGR of 14.9% for the five-year period 2018 - 2023, which is expected to drive the market to a value of $252.5bn by the end of 2023. Comparatively, the Chinese and Japanese markets will grow with CAGRs of 19.5% and 9.9% respectively, over the same period, to reach respective values of $78.9bn and $72.9bn in 2023. $81.9 $91.7 $103.3 $115.6 $125.9 $139.4 $157.5 $182.2 $215.5 $252.5 12.0% 12.6% 11.9% 8.9% 10.7% 13.0% 15.7% 18.3% 17.2% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% 18.0% 20.0% 0 50 100 150 200 250 300 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 SoftwareinAPACRevenue($B) Market Size ($B) Growth (%age)
  17. 17. page A L P S V E N T U R E P A R T N E R S 17 Industry Outlook [1] Source: Mobile Apps in Asia Pacific published by MarketLine, February 2019 info@alpsvp.com Software in Asia Pacific1 – Notes The Japanese market generates 36.1% of the Asia-Pacific market, with China being the second largest contributor at 25.7%, a relatively low contribution considering China’s size and usual market share in the region. The Chinese market is restrained by the Great Firewall, which censors data. Facebook and many services from Google are blocked and Github, a popular version control and source code management tool, is occasionally blocked or slowed. Cloud sources are much more expensive in China than in other countries. Having to work with a virtual private network (VPN) can also be complicated, particularly when troubleshooting, but companies that offer this software are highly sought-after. Nevertheless, China’s growth has rapidly increased over the last year and is currently enjoying double the growth of Japan, taking up a growing portion of the market share in return. There has been a trend towards outsourcing office work to India and other countries with a low operating cost, which has likely driven the software market in these regions as workers need software to undertake the outsourced work and overseas offices need effective communication systems. The Asia-Pacific region is seeing a strong growth rate in terms of its software market. The growth over the past five years has been driven by mobile usage and cloud computing usage among businesses. Cloud computing has enabled market operators to move from supplying software products outright to engaging in a Software as a Service (SaaS) business model, where clients pay an annual or monthly subscription fee for software. The IT management segment was the market's most lucrative in 2018, with total revenues of $40.1bn, equivalent to 31.9% of the market's overall value. The business process applications segment contributed revenues of $32.6bn in 2018, equating to 25.9% of the market's aggregate value. IT Management remains a dominant force in the software market, as it allows businesses to optimize their resources, staffing, communication and business processes. As such, it remains a key feature of software that businesses look to purchase. The forecasted growth rate within the software market for Asia-Pacific is extremely strong, with China specifically growing at a CAGR of nearly 20%. These figures show how quickly the software market is developing in China due to more lenient regulations.
  18. 18. page A L P S V E N T U R E P A R T N E R S 18 Industry Outlook [1] Source: Real Estate in Asia Pacific published by MarketLine, April 2018 [2] Asia-Pacific comprises Australia, China, Hong Kong, India, Indonesia, Kazakhstan, Japan, Malaysia, New Zealand, Pakistan, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. info@alpsvp.com Real Estate in Asia Pacific1 - Outlook The Asia-Pacific real estate industry has continued to grow at a moderate rate, though it has slowed. This industry will continue to slow over the forecast period. China is the main driver in the Asia-Pacific real estate industry, making up 67.5% in 2017. This was followed by Japan and India which made up 9.8% and 5.2% respectively. The Asia-Pacific real estate industry had total revenues of $2,255.6bn in 2017, representing a compound annual growth rate (CAGR) of 4% between 2013 and 2017. In comparison, the Chinese and Japanese industries grew with CAGRs of 3.7% and 2.7% respectively, over the same period, to reach respective values of $1,523.6bn and $220.3bn in 2017. The performance of the industry is forecast to decelerate, with an anticipated CAGR of 2.4% for the five-year period 2017 - 2022, which is expected to drive the industry to a value of $2,543.5bn by the end of 2022. Comparatively, the Chinese and Japanese industries will grow with CAGRs of 1.4% and 3% respectively, over the same period, to reach respective values of $1,632.5bn and $255.7bn in 2022. $2,039 $2,157 $2,219 $2,256 $2,312 $2,365 $2,432 $2,491 $2,544 5.8% 2.9% 1.6% 2.5% 2.3% 2.9% 2.4% 2.1% 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 0 500 1,000 1,500 2,000 2,500 3,000 2014 2015 2016 2017 2018 2019 2020 2021 2022 RealEstateinAPACRevenue($B) Market Size ($B) Growth (%age)
  19. 19. page A L P S V E N T U R E P A R T N E R S 19 Industry Outlook [1] Source: Healthcare Providers in Asia Pacific published by MarketLine, May 2019 [2] Asia-Pacific comprises Australia, China, Hong Kong, India, Indonesia, Kazakhstan, Japan, Malaysia, New Zealand, Pakistan, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. info@alpsvp.com Healthcare Provider in Asia Pacific1 – Outlook The Asia-Pacific healthcare providers sector has experienced strong growth over a four-year period fluctuating between 7.8% and 8.4%. The same trend will continue in the forecast period, where the growth rate is expected to fluctuate between 8.1% and 8.4%. The Asia-Pacific healthcare providers sector had total revenues of $1,908.5bn in 2018, representing a compound annual growth rate (CAGR) of 7.8% between 2014 and 2018. In comparison, the Chinese and Japanese sectors grew with CAGRs of 12.7% and 1.9% respectively, over the same period, to reach respective values of $783.9bn and $543.0bn in 2018. The performance of the sector is forecast to accelerate, with an anticipated CAGR of 8.2% for the five-year period 2018-2023, which is expected to drive the sector to a value of $2,826.5bn by the end of 2023. Comparatively, the Chinese and Japanese sectors will grow with CAGRs of 11.9% and 1.9% respectively, over the same period, to reach respective values of $1,372.6bn and $596.3bn in 2023.As the population gets older, the demand for healthcare will increase, driving costs for private and public organizations and growth in the long-run. $1,412 $1,542 $1,633 $1,770 $1,909 $2,058 $2,227 $2,407 $2,609 $2,827 9.2% 5.9% 8.4% 7.8% 7.8% 8.2% 8.1% 8.4% 8.3% 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 8.0% 9.0% 10.0% 0 500 1,000 1,500 2,000 2,500 3,000 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 RealEstateinAPACRevenue($B) Market Size ($B) Growth (%age)
  20. 20. page A L P S V E N T U R E P A R T N E R S 20 Alps Venture Partners has established a team of experts that have experience in valuing businesses across diverse industry sectors and all developmental stages; ranging from clients with seed funding to pre-IPO stage. With the team having experience of both valuations and audits, our detailed and insightful valuation appraisal reports, along with our responsive support, help our clients easily pass through any stringent audit review process in a smooth, efficient and time-bound manner.
  21. 21. page A L P S V E N T U R E P A R T N E R S 21 Corporate Finance Services We provide clients with high quality research, analytical and advisory support for transactions. We offer a range of services such as initial opportunity assessment, market analysis, financial modeling, commercial and financial due diligence, valuation, capital structure planning, and deal structuring. v  Investment Opportunity Assessment v  Target Identification v  Preparation of Pitch Books v  Buyer & Seller Services v  Fairness Opinions v  Financial Modeling v  Business and Financial Due Diligence etc. Transaction advisory Financial Modeling Whether it is evaluating new business ventures, proposed transactions or financial and operational strategies, a robust and dynamic financial model is an integral component to the decision- making process. Transaction Identification We can help by global target identification considering the requirements with maximum synergy. The financial due diligence process is a necessity to any transaction. Our aim is to enable owners and managers to make such investments with confidence by supporting and advising at every stage. We will help reduce the risk – and stress – of investing at home or in another country. Due Diligence Custom Research We provide clients with customized research report, model, decks with client specific requirements such as: v  Business plan development, v  Diagnostic review of operations v  Competitor benchmark analysis v  Intellectual Property info@alpsvp.com
  22. 22. page A L P S V E N T U R E P A R T N E R S 22 Financial Reporting and Tax Compliance Services IRC 409a We have experience of handling more than 2000+ 409a valuations across Industries. With the team having experience of both valuations and audits, our detailed and insightful Section 409A appraisal reports, along with our responsive support, help our clients easily pass through any stringent audit review process in a smooth, efficient and time-bound manner. Fair Value Measurement We help PE and VC clients to comply with ASC 820 and IFRS 13 standard’s complex provisions and avoid any audit issues in their quarterly and annual reporting. Relative TSR Programs We value the awards with Relative TSR metrics, using sophisticated modeling techniques which allow clients to quickly and accurately value new grants. Our business valuation experienced team along with the team of veteran Patent lawyers position us uniquely to assist clients in completing annual Goodwill and Investment Impairment testing. ASC 350 / IAS 38 ASC 718 (FAS 123R)/IFRS 2 Our experienced team at Alps Venture Partners has performed hundreds of stock options valuations for ASC 718 for privately held companies and publicly listed companies across diverse industry sectors and enterprise development stages. ASC 805 / IFRS 3 We have unmatched proficiency in delivering Business Combinations Accounting solutions to clients in v a r i e d i n d u s t r i e s . O u r comprehensive USPAP compliant appraisal reports are auditable and cost-effective, and help our clients stay focused on the deal. IRC 83 B Election Alps Venture Partners has extensive experience in assisting companies seeking to comply with IRC 83 B election. Failing to make a timely 83(b) election may lead to disastrous tax consequences for a start-up company founder or employee. info@alpsvp.com
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