Valuation

We value companies and shareholdings when owners, boards or investors need an independent figure that can be tested.

Close-up of calculations using a calculator and a review of documents.

Value as a basis for decisions

A good valuation is more than a number. It explains what drives value, which assumptions matter most and how a buyer is likely to view the company.

We combine discounted cash flow analysis with comparable transactions and listed companies, and draw on experience from the transactions we carry out ourselves.

When a valuation is needed

  • Sales, acquisitions, mergers and share issues
  • Demergers and other company-law purposes
  • Ownership changes, successions and shareholder settlements
  • Put and call options and shareholder agreements
  • Minority stakes, including minority and liquidity discounts
  • Shareholder disagreements and other disputes
  • Fairness opinions for the board

Why independence matters

A valuation is only useful if the recipient can trust it. We have no proprietary trading or asset management and no interest in the figure we arrive at. The assumptions are documented so that the board, the auditor or the counterparty can test them.

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