Matchingplatformsin Europe for successful business transfers Good practice cases

Transcription

1 Matchingplatformsin Europe for successful business transfers Good practice cases

2 Laurent RENERKEN SOWACCESS Nicolas RAEDECKE Deutsche Unternehmerbörse - DUB.de Nicolas NOUVEAU Bpifrance Oriol ALBA REEMPRESA Lex van Teeffelen HU Business School Utrecht

3 SOWACCESS matching platforms by Laurent Renerken

4 SOWACCESS matching platforms Laurent RENERKEN, Advisor

5 Missions The Walloon company for SME transfer and takeover Founded in 2006 by the Walloon Government Main missions: Providing information and raising awareness about the sale/acquisition of businesses Facilitating contacts between sellers and buyers with 2 matching platforms Sowaccess SME data base

6 Services/Tools To Sellers: «Diagnostic Transmission» online diagnostic «one-stop shop» meetings with SOWACCESS advisors Partial subsidy (70%) of a advising mission by a SOWACCESS agreed partner (Valuation, preparation, ) SOWACCESS matching platforms Partial subsidy (70%) of a advising mission by a SOWACCESS agreed partner (Negociation, contracts, ) Orientation Preparation Search of counterparts Negociation After the deal «Test Repreneurs» online diagnostic To Buyers: «Club Repreneurs» seminars (32 hours) «one-stop shop» meetings with SOWACCESS advisors SOWACCESS matching platforms Partial subsidy (70%) of a advising mission by a SOWACCESS agreed partner (LOI, Due Diligence, contracts, ) Meetings with SOWACCESS advisors to help finding funds solutions (Public financial tools of SOWALFIN)

7 SOWACCESS Agreed partners 150 Professional experts in Business Transfer: M&A advisors Lawyers Auditors Acountants Banks Advisors Approved by the SOWACCESS Ethics Committee: Experience in Business Transfer, Professionalism and Ethic Mission of surveillance Private experts must be agreed by SOWACCESS Ethics Committee before having access to its tools and services.

8 SOWACCESS Platforms Sellers put directly their profile for sale on the website OR they come from agreed partners Profile can be anonymous Main criteria must been provided (sectors, location (Province), Turnover, Number of FTE) Cost : 90EUR for 3 months, free if coming with an agreed expert Buyers visit profiles Contact sellers (or advisors) directly through the website Intern mailbox for the first contacts (confidentiality) Buyers can save their search criteria and receive alerts with new profiles. Cost : none Only for small companies under EUR turnover, or in retail sector, restaurants,

9 SOWACCESS Platforms Launched in companies for sale 700 buyers in «standby» (alerts)? Deals (Reporting in progress)

10 SOWACCESS Platforms

11 SOWACCESS Platforms

12 «SME Database» «Closed» database Profiles of companies for sale coming from agreed partners To respect confidentiality To give a second «filter» To be sure the «seller» is not alone Buyers affiliated directly Meeting with each potential buyer (motivation, credibility of the takeover project, criteria, ) Affiliation contract with confidentiality clauses Access Fee (300 eur/year) + Success fee in case of transaction (0,6-1%) Personal matching Blind profile of companies for sale, sent to the buyer according to his criteria In case of interest of the buyer, SOWACCESS send his acquisition profile and contact details to the advisor of the seller

13 «SME Database» Launched in Companies for sale (May ) 395 Affiliated buyers (May ) 70% MBI (entrepreneurs) 30% Strategic acquisition profiles (Companies, invest Funds, ) 130 deals since new profiles for sale every week Companies stay mostly 3-6 months on the platform For SME s up to EUR turnover, not in retail sector or restaurants

14 International collaborations Cross-border partnerships Cédants & Repreneurs d Affaires (CRA) France MK Base The Netherlands

15 Team & Contacts Nicolas PIROTTE, Manager npirotte@sowaccess.be Laurent RENERKEN, Advisor lrenerken@sowaccess.be Pauline FERONT, Advisor pferont@sowaccess.be

16 Deutsche Unternehmerbörse DUB.de by Nicolas Rädecke

17 Agenda DUB.de house of market places Number of companies for sale Right place, right time Profile integrity Advisory recommendation

18 DUB house of market places

19 Key issues 1. Number of companies for sale 2. Right place, right time 3. Profile integrity 4. Advisory recommendation

20 1. Number of companies for sale Sources: Companies: Eurostat, non financial enterprises 2013 France: Bourse de la Transmission, UK: Daltons, Businessforsale, Germany: Nexxt-Change, DUB.de

21 2. Right time, right place DUB UNTERNEHMER-Magazin Regular DUB Newsletter Handelsblatt print and online

22 3. Profile integrity - How much quality control is necessary and helpful? - Fraudulent profiles and spam contacts vs portal reputation - Advantages of checked profiles

23 4. Advisory recommendation - How to recommend adequate advisory services at reasonalbe prices? - No qualification for advisors - Deal size prohibits in depth sevices

24 Bpifrance The BNT platform by Nicolas Nouveau

25 The BNT Platform 1/ Bpifrance in short 2/ Bpifrance & Business Transfer 3/ The BNT Platform

26 1 Bpifrance in short

27 Bpifrance in short 2,540 employees 8 business lines Loan Guarantees Public Export Insurance Loans Innovation Fund of funds Small cap investment Mid/large cap investment Business Support 43 regional offices 2 subsidiaries Bpifrance Financement Bpifrance Investissment 90% decentralised decisions at regional level A public-sector bank offsetting market failures A full-service bank supervised by the ECB The French Export Credit Agency (ECA) A bank respected by the markets: financed at French TB rate + 14 bp One of the first EU investment company for start-ups, SMEs and Mid & large Caps EUR 24,6 billion under management 380 professional staff

28 Bpifrance in Bn of short term loans 4.1 Bn of classic loans & co-financing 2 Bn of development lending 1.3 Bn of innovation financing 169 M directly invested in venture capital 132 M directly invested in SMEs 777 M directly invested in Mid&Large caps 685 M subscribed into partner funds 14.9 Bn of financing 8.6 Bn of guaranteed loans 1.8 Bn of equity

29 2 Bpifrance & Business Transfer

30 Bpifrance & Business Transfer BT Development Loan BT Guarantee Loan financing the purchage of assets, shares (majority) and WCR SMEs > 3 years EUR 40k to 400k, up to 7years ;2 years grace period No collateral required Guarantee rate : 50% (up to 70% with a regional co-guarantee) Risk limit: EUR 1,5m Equity Min ticket: EUR 150k Only minority share, to support operations In 2013 : EUR 2.5bn of financing to companies (95% SMEs) totaling jobs Bpifrance Le LAB (2015): Transfer to Grow - Research study on BT of family Midcaps

31 3 The BNT Platform (Bourse Nationale de la Transmission)

32 The BNT Platform : whatisit? A meta-platform gathering on a single website selling offers from several partner platforms selected on quality criteria Created in operational partners offers buyers registered visits/month

33 How doesitwork? 1. Partner platforms are selected on strict quality criteria among the 35 platforms existing in France (quality charter) 2. Partner platforms send on a daily basis all their offers which are displayed online in a standardized format 3. Buyers register and use the search engine to find interesting offers 4. Buyers are redirected to partner platforms to get more information and go further

34 Whoare our partners? 11 leading national BT platforms

35 How are partnersselected? Quality Charter (1/2) : 7 Compulsory criteria: 1. Platform has been running for at least 2 years 2. Capacity to provide an average stock of 150 offers to Bpifrance on a daily basis 3. Engagement to have all the offers reviewed by a business transfer professional 4. Capacity to provide Bpifrance with the required minimal info on each offer (price, turnover, employees) and engagement to give access to the full details of the offer in 1 click and with no registration required 5. Reconfirm, update or delete any offer > 1 year 6. No remuneration on the outcome of the operation 7. Allow the seller to remain anonymous

36 How are partnersselected? Quality Charter (2/2) : Non-Compulsory criteria (at least 4 required): Platform is managed by an institutional actor (Chamber of Commerce, craft etc.) Capacity to provide complete information on each business beyond required fields Systematic interview of the seller by a business transfer professional before publishing the offer Charge fees on the seller (to publish the add or global service package) Having all adds reconfirmed by the seller at least quarterly Acknowledge receipt and answer to contact request from buyers within 48h Report on business as they are sold (live update of offers) Less than 1% of complaints / year

37 What do weseeon the platform? Sector Type of activity Date of publication Region Save Signal Problem Key Info: Turnover / Employees / Price (at least 2/3) Link to the partner platform

38 How doesitworkin practice? 1/ Potential buyers register on the platform (private account profile) 2/ Potential buyers use the search tool or browse by type of sector, region. Possibility to refine the search by Number of employees / Turnover / Price Interesting offer found: 2 options: Save it for later Click on the partner platform link to get further info with no registration required No offer found : possibility to program an alert to receive daily updates

39 Thank you!

40 Matching Platforms in Europe for Successful Business Transfer - REEMPRESA -

41 Reempresa.org Centre de Reempresa de Catalunya Cecot & cp Ac Foundation Scope of action =Catalonia Launched in 2010 Public-Private Partnership ERDF Fund & Generalitat de Catalunya (Regional Gov.) Network of collaborators Public authorities / Policy Makers (>65) Business Organizations & Associations (>20) Socioeconomic entities (>10) One Stop Shop

42 RESOURCES Advice / Consultancy Market Place Software / CRM Training

43 MATCHING PLATFORM Main characteristics: Defined considering EC recommendations Managed through our CRM Everybody can consult. Ads posted by Reempresa staff Blind profiles Confidentiality No fees Unlimited duration of ads. Contact? Via Reempresa staff Search criteria: Sector / Activity / Region / Price / Photography Matching process: By Potential buyers and Reempresa.

44 REEMPRESA IN FIGURES Since 2011: >850 deals > worth of deals > 2900 Employees saved average selling price > sellers have been analysed and published in the marketplace > potential buyers informed and prepared to take over. > 550 buyers and sellers have been trained.

45 Matchingplatformsin Europe for successful business transfers Good practice cases