Buy-side M&A advisory for the acquisition of an industrial manufacturer

The 100% buy-out of ASM Security Ltd. is one of our own investment projects. Mercurio acted as lead investor and, at the same time, as full-scope advisor on the deal: our firm ran the transaction process from the investment decision all the way to closing.

The project illustrates Mercurio's distinctive M&A capability: we bring an investor's mindset and top-tier financial advisory expertise to the same table — allowing us to execute a complex transaction, including debt and equity financing, end to end and in-house.

We ran the process from origination to closing, representing our client's interests throughout:

1. Preliminary assessment: We began by assessing the inbound opportunity: evaluating the target's potential and modelling the value-creation upside it offered.
2. Financial modelling and valuation: Ahead of the indicative offer, we completed the financial modelling and company valuation; created the optimal deal structure and determined the right negotiation strategy.
3. Indicative offer and entry into exclusivity: We prepared the indicative offer (LOI) and, following several rounds of negotiation, Mercurio's offer was accepted — allowing us to enter the exclusive transaction phase.
4. Coordination of due diligence workstreams: Legal, tax, financial and technical due diligence were performed by external specialist advisors; we selected and directed the advisory teams working on the deal.
5. In-house commercial due diligence (CDD): We carried out the commercial due diligence entirely in-house. We mapped the target's market position and competitive environment, and conducted a detailed review of its functional areas. This involved several on-site visits, management interviews, and analysis of the company's document and data set. Building on the findings, we developed a medium-term strategy and financial plan, and identified the transaction-related business risks together with the ways to mitigate them.
6. Arranging the financing — equity and debt side: Mercurio led the entire financing process. We managed the equity fundraising step by step, from preparing the materials to the syndication negotiations; and we secured the debt financing through a competitive process among the leading domestic lenders.
7. Preparing the handover and growth: Before the transaction closed, the handover plans and the company's growth strategy were already in place. We also selected the new managing director, who took over executive responsibilities on the day of closing.

—  Successful transaction: we closed the transaction successfully on the seller, financing and investor sides alike.

—  Seamless handover: from the closing date, the new ownership group and the new managing director took over the company without disruption, and its financial and business performance was maintained.

—  Launch of growth initiatives: following completion, execution of the growth initiatives began along the plan prepared in advance.