What we do

M&A Advisory

Our expertise is distinguished by our ability to evaluate companies not only from a balance sheet and financial point of view, but especially in terms of potential. Our approach allows us to go beyond a simple accounting valuation, offering a structured analysis that takes into account the regulatory environment, territorial dynamics and market prospects, with the aim of maximizing the value of operations.

Company valuation methods

In merger and acquisition transactions, conventional valuation methods are commonly used, such as asset-based, income-based, and cash flow-based approaches, which are respectively based on the net asset value, the company's ability to generate profits, and discounted cash flows.

However, in regulated and highly specific sectors such as public transport, these approaches must be complemented with the analysis of other determinants. Among these, the nature and solidity of existing service contracts, the competitive and territorial context in which the company operates, as well as the characteristics of internal operations, such as fleet management, cost structure, organisational skills and the degree of innovation, are particularly relevant.

A complete evaluation therefore requires a multidimensional approach, capable of reading the company not only through numbers, but also in its ability to generate value in the specific context in which it is embedded.