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  • Valuation of two advertising agencies
    and financial plan for a new holding
    company
Case study:

Valuation of two advertising agencies and financial plan for a new holding company

27 februari 2020

R-FIN Partners acquired 100% of the shares of AIR, an engaged Brussels based independent advertising agency (and the exclusive Belgian partner of the McCann Group), as well as 70% of the shares of AddRetail, the first 100% B2C retail Belgian agency.
 
BDO was engaged by the Directors of R-FIN, a newly formed holding company specializing in communication & advertising services, to assist in setting up its financial plan, and for a pre-acquisition valuation exercise of both Air and AddRetail. Valuation was based on the financial forecasts of both companies, using the DCF and market multiples methods. 
 
Our report accompanied the Transaction and Funding Documents, which were required for pre-transaction approval and credit granting to the Shareholders and Lenders.

"Many thanks to all of you for your professional skills and enthusiasm and for your efficient and tireless help. It wouldn’t be impossible without you but much more difficult for sure.”