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Blog: Bartosz MIŁASZEWSKI

18 October 2017
Bartosz MIŁASZEWSKI

The sale of a family business is always a far more difficult a process than its divestiture by means of a fund or a large corporation. Selling a family business means a great change for both the entrepreneur - the business owner, and the staff. It also exerts an inevitable impact on the relationships with customers and suppliers. However, such a change primarily affects the owner and staff.

15 March 2017
Bartosz MIŁASZEWSKI

An interesting matter is that it is often easier to buy or sell a big company employing thousands of workers with income counted in billions rather than a company that has several or several dozen employees and generates revenue of (just) several or several dozen million. And paradoxically, it is not about the price that needs to be paid for such an enterprise.

4 March 2016
Bartosz MIŁASZEWSKI

At a certain stage of life of a company the owners may be considering its selling off. This may be due to a difficult market situation, synergies stemming from the merger with another entity, the age of the owners or their new plans for the future and the many diverse factors. Not every company, however, is in the position to be taken over. Well, maybe this is too strong a statement – any company is capable of being acquired, however, the price is not always attractive to the seller. Often one can hear about companies being bought “for a dime” and it does not always apply to companies in debt. Why is it that some companies change their owners under good conditions and others are never taken over?

29 June 2015
Bartosz MIŁASZEWSKI

Since I started providing transaction services, in other words advising Clients in purchase and sales transactions as well as enterprise mergers and acquisitions, one question has been constantly on my mind: what is truly an advisor’s role in a transaction? What is my role and what is the role of the other party’s advisor? The answer is pretty clear if a Client commissions RSM to sell their company or to buy one – in such situation, our role is limited to negotiating best price and securing the Client’s interests in agreements. All the actions taken are to satisfy the highest imperative goal „I want to sell” or „ I want to buy”. However, sometimes the imperative “I want to sell/buy” is not as strong as the mentioned “want”. We often hear our Clients saying “I could” and not “I must”, “I would like” and not “I want to”.

1 March 2015
Bartosz MIŁASZEWSKI

Let's say I purchased a company and...

... not everything is quite as I had assumed, although nobody was trying to cheat me. Does that sound familiar? I fear it does. In my job I work with people who are in charge of deciding whether to acquire another company, and if so – for what price. In the course of negotiation the price is usually established as a multiple of EBIT/EBITDA/net profit. I am personally not a supporter of this method. In my opinion it is much better to evaluate a company using the DCF methods in three scenarios: positive, neutral and negative. But who has time for such things these days? Due to its simplicity the multiple method is gaining many supporters among decision-makers.

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