On 27 January 2020, the leading Swiss digital agency Hinderling Volkart AG (“Hinderling Volkart”) announced that it will become part of the Dutch company Dept Holding B.V. (“Dept”). Hinderling Volkart from Zurich as well as the two subsidiaries Hinderling Volkart Bern and HV Italic from Basel are joining the internationally expanding Dept.
IFBC acted as exclusive M&A advisor to Hinderling Volkart during the entire transaction. Among others, IFBC performed a structured international buyer approach, developed the transaction structure, organized the due diligence and led the negotiations.
Hinderling Volkart is a multiple award-winning Swiss digital agency. Its approximately 60 employees work at three locations in Zurich, Bern and Basel for clients such as SwissRe, Edelweiss, Swiss and Switzerland Tourism.
IFBC was mandated by 3M Company to value two entities and determine the goodwill. The valuation included a plausibility check of the business plan as well as the valuation according to the DCF approach and based on trading and transaction multiples.
3M Company is a multinational conglomerate corporation based in USA. 3M employs 94’000 people worldwide and produces more than 60’000 products (among others Post-it and Scotch)
IFBC was engaged by the board of directors of Meyer Burger Technology AG („Meyer Burger“) to prepare an independent Financial Opinion assessing the offer made by Süss MicroTec SE for the inkjet printing business (PiXDRO) from a financial point of view.
Meyer Burger is a globally active technology company specialized in systems and production equipment for the photovoltaic (solar), semiconductor and optoelectronic industries. The company is listed on the SIX Swiss Exchange and had a market capitalization of approximately CHF 270 million as of December 2019.
IFBC examined the feasibility of financing of planned investments and assessed the debt situation of Eniwa. In addition, potential financing options for Eniwa were identified and evaluated.
Eniwa is a regional energy service company headquartered in Buchs AG. As a municipal utility, Eniwa is majority-owned by the city of Aarau. Eniwa offers supply and installation services for private households and companies in the region.
On 8 November 2019, cashgate AG (“cashgate”) announced the sale of its rental guarantee business currently operating under the brand “SmartCaution” to a group of real estate management companies.
IFBC acted as a sole M&A advisor to cashgate within this successful sell-side transaction. As part of the transaction, IFBC developed a transaction structure, performed a valuation, organised the due diligence and assisted the selling company during the negotiation.
SmartCaution offers nationwide rental guarantee insurances for private and business clients with a focus on the Geneva and Lausanne region.
The mother company of cashgate, the Cembra Money Bank, is a Swiss financial institute listed on the SIX Swiss Exchange with a market capitalisation of around CHF 3.1 billion (November 2019).
IFBC was engaged by the board of directors of BFW Liegenschaften AG to prepare a Fairness Opinion assessing the public tender offer made by BFW Holding AG from a financial point of view. As a qualified evaluator pursuant to Article 30(6) Takeover Ordinance, IFBC is suitably qualified to prepare Fairness Opinions.
BFW Liegenschaften AG is a Swiss real estate company quoted on the SIX Swiss Exchange with a market cap of approx. CHF 150 million as of November 2019.
IFBC prepared a Fairness Opinion to the Board of Directors of the Swiss Federal Railways SBB to assess the offer for the 35% minority stake in SBB Cargo AG by Swiss Combi AG from a financial perspective.
The Swiss Federal Railways SBB is the national railway company of Switzerland organized in tree divisions: Passenger Traffic, Infrastructure & Real Estate and Cargo (SBB Cargo AG).
IFBC was engaged as an independent valuation expert by the SCOR Group to determine the fair value of SCOR Switzerland AG as part of a restructuring process.
The SCOR Group is the fifth largest reinsurer in the world, offering insurance companies a diversified range of risk control and management solutions and services. The head office of the listed company is in Paris.
IFBC was mandated by the Management of Weidplas to perform an enterprise valuation of the South African legal entity. The mandate included the benchmarking of the business plan as well as a company valuation based on the DCF-approach and multiples.
Weidplas is a leading global producer of highly engineered and technically complex plastic components including precision automotive components and modules, advanced lighting applications, and mechatronic and decorative solutions based on advanced plastic manufacturing technology.
Under IAS 36, Swisscom is required to regularly test the goodwill of its Italian subsidiary Fastweb for impairment. Within the regular impairment test it has become best practice to consider country risk premiums in the cost of capital of cash-generating units. IFBC was mandated by Swisscom to develop a method for determining Fastweb’s Country Risk Premium and to calculate the current value. The reason for Swisscom to award the contract to IFBC was among others the developments on the financial markets during the financial crisis in general and of the yields and credit spreads of Italian government bonds in particular.
Swisscom is the leading telecom-provider in Switzerland.
IFBC exclusively acted as financial advisor to Erdgas Ostschweiz AG on the sale of its minority stake in SET Swiss Energy Trading AG as well as on the termination of existing contractual obligations with SET Swiss Energy Trading AG.
Erdgas Ostschweiz AG is one of five regional natural gas supply companies in Switzerland and has about 65 employees. The transport is environmentally friendly, mostly underground through the approximately 630 km long high-pressure natural gas network.
IFBC has advised BERNEXPO GROUPE as an exclusive financial advisor on the acquisition of Together AG and Talendo AG. As part of the transaction process, IFBC performed the valuation and the financial due diligence of the two companies, structured the whole transaction and assisted BERNEXPO GROUPE in the negotiations.
BERNEXPO GROUPE is a live marketing company that holds around 30 in-house and guest exhibitions a year, as well as more than 200 congresses and guest events.