Business Area
Pirola Corporate Finance provides a wide range of services to investors and medium/large-sized companies to support their growth and facilitate their approach to the market: search for venture capital, Stock exchange listing, M&A advisory services, structuring of debt instruments used to fund current assets and/or investments, business valuations, debt restructuring and grand advisory.
Equity Capital Market
A company’s Listing on Italian or foreign Regulated Markets is a complex process. The cost-benefit and feasibility analyses carried out with the assistance of the Advisor help clients make informed decisions as to the best way and time to enter the financial market. Pirola Corporate Finance, as Financial Advisor, assists companies through all the steps of the process related to the listing or share capital increases in regulated and non-regulated markets (MTA – Mercato Telematico Azionario, the leading Italian Equity Market and AIM – Mercato Alternativo del Capitale, Borsa Italiana’s Multilateral Trading Facility), to support their growth and increase their value by means of:- A feasibility study of the transaction
- Cost-benefit analyses
- Assistance with the listing process
- Coordination of the players involved in the listing process
M&A – Mergers & Acquisitions
M&A’s are the result of a complex analysis of strategic, financial and tax issues, the optimization of which is the critical success factor for the transaction. Pirola Corporate Finance acts as Financial Advisor in mergers, acquisitions, sales of businesses and sales of business divisions or shareholdings, providing assistance to Italian and international companies and financial investors throughout the relevant steps of the process up to the closing. Services include:- Analysis of the strategic objectives and feasibility studies
- Evaluation of the transaction and of any more favorable alternative scenarios
- Identification, selection and analysis of potential acquisitions
- Search for prospective industrial and financial partners in Italy and abroad
- Assistance with the negotiation and financial issues at all stages of the transaction
- Coordination of the relevant tax and legal issues
Debt Advisory
Pirola Corporate Finance acts as Financial Advisor and/or Arranger in the management of a company’s financial needs to support its investment plan and its working capital. The careful management of these requirements is a key market success factor for companies. Due to the critical nature of these issues, operating choices require careful analysis, planning and the involvement of a capable Advisor with significant experience in specific areas of activities, such as the following:- Syndicated loans to support business development
- Reorganization of financial structure
- Working capital facilities
- Securitization
- Bond issues (private placements and minibonds)
Restructuring
Pirola Corporate Finance acts as Financial Advisor and/or Arranger in situations of financial distress due to high level of debt, which require actions aimed at rebalancing capital structure and aligning the available operating cash flow with the cash flow required to service debt providing, among others, the following activities:- Turnaround management
- Debt restructuring arrangements pursuant to articles 67, 182-bis and 160 of the Italian Bankruptcy law
- Renegotiation of bank debt
- Independent Business Review (“IBR”)
Valuation Services
Pirola Corporate Finance has developed significant and recognized know-how in a wide range of business advisory services to clients, such as- Valuation of businesses and business divisions
- Fairness Opinions
- Valuation of options, warrants and other financial instruments
- Trademark and patent valuation
- Valuation of customer list
- Allocation of merger deficiency
- Purchase price allocation
- Impairment test (goodwill, shareholdings and other assets)
- Drafting of business and financial plans
- Review of business plans
- Market, sector and competitive positioning analyses
- Benchmarking analyses
- Project financing certification
- Assistance to companies in the credit rating assignment and subsequent monitoring phase
- Preparation of a detailed document summarizing and commenting on the counterparty’s financial and business risks
- Support to companies in dealings with the credit rating agency, thanks to our know-how and sensitivity