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 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 was engaged as financial advisor with focus on the identification and valuation of services and ancillary services with regard to compliance with the applicable price rules under Swiss takeover law. The results were reported in the form of an expert opinion and reviewed and assessed by the review body of the transaction.
CSA Energy Infrastructure Switzerland is an investment group of Credit Suisse Investment Foundation.
IFBC was engaged by Swiss International Air Lines (SWISS) to determine the fair market value of selected trademark rights from the perspective of an independent third party. In addition to the evaluation of word and figurative trademarks, a comprehensive portfolio of registered domain names had to be analyzed and evaluated.
Swiss International Air Lines is the airline of Switzerland. From Zurich and Geneva, over 100 destinations in 44 countries are served worldwide. With a fleet of around 90 aircrafts SWISS carrys around 18 million passengers a year.
The Wirth Inc. mandated IFBC to support them within project “GreenJewel”. In a first step, the idea of the project was transferred in a business case and a financial business plan was developed. The specific challenges included the identification of the individual value drivers, the envisaged international structure and the Brazilian circumstances and dimensions. Based on the business plan, the planned financing structure was reviewed and adjusted.
The Wirth Inc. is a Brazilian company with Swiss roots with the goal of acquiring threatened areas together with investors and managing them sustainably with the involvement of the local population.
IFBC was mandated by the Twint management to conduct a strategic review of the existing business case and to develop the optimal ownership structure. The project included the development of the key drivers of the business case, analysis of the business case in relation to financing needs, preparation of a decision basis regarding the optimal ownership structure, elaboration and assessment of possible financing & shareholding alternatives as well as the preparation of the basis for discussion with shareholders and the identification of critical factors in strategic decisions.
With around 2.5 million registered users and over 4.0 million transactions per month TWINT is the most used payment app in Switzerland. TWINT is owned by the largest Swiss banks and the financial infrastructure service provider SIX.
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 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.