Client Study

A leading online retailer of pre-owned publications required a valuation. The business was growing strongly and was seen as an industry pioneer. The issue was that with little or no comparable operators in the UK market, it was difficult to find a benchmark and define a price.

During this time, there was also significant uncertainty over the future business model because of major technology changes in the sector.

The company needed an accurate valuation quickly if it was to define a new business plan, raise the capital needed to pursue growth plans and attract, and satisfy, potential investors.

Our approach

We assessed the requirements and concluded that accurate intelligence from a variety of sources was essential. The team focused on analysing global markets to identify future growth trends.

A business with private equity investment operating in a parallel market was identified and confidential discussions around pricing took place.

The outcome

Our extensive international research led to the discovery that a key US landmark legal decision had the potential to radically change the impact of the technology developments on the business. This removed a substantial amount of previous uncertainty over future market predictions. A robust valuation was then presented to the client, alongside a detailed assessment of the marketplace, which addressed all the business’s concerns.

The valuation incorporated an intelligent market view on value for a business with no publicly available market comparators.

Client feedback

“As a niche business in a fast changing market place we felt there were very few, if any, firms world-wide that were in a position to give us informed advice and pricing. The team were relentless in their quest to unearth the most difficult to access information and give us what we needed in tight timescales. Their findings and recommendations gave us the confidence to put into practice the key changes that we were seeking for the business. I could not recommend them more highly to any business owner wanting to deal with people that are highly professional, refreshing and proactive.”

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