Equirus

MERGERS AND ACQUISITION

The team at Equirus Capital works very closely with our clients in all aspects of an M&A transaction whether it is buy-side or sell-side be it a deal within India or a cross-border situation. We have as part of the practice, domain experts who lead the team from origination to closure. Our differentiation for buy-side and sell-side M&A transactions is given below

Buy-Side Mandates
Equirus team works with the client right from target identification to due diligence and consummation of the transaction. While working on the transaction, we provide several intermediate deliverables that will help our client get the comfort that not only we have identified the right target but also got the best deal in terms of the valuation.

	Steps in the Transaction	Key Deliverables	Equirus Differentiation
1	Short-listing Acquisition Targets based on criteria of our client	Market-Analysis and target identification Shortlist of the targets based on strategic fit and availability Internal Presentations for key stake-holders of the client on profile of short-listed targets	Listening skills and strategic thinking to first understand and later clarify the criteria with our client management team Relationship network with companies, Private equity funds, VCs, consultants and other intermediaries that will help us quickly find out various targets in terms of availability
2	Valuation, Negotiation and signing the term sheet	Valuation Models for target with benchmark for comparables within the industry ( Base case+ synergy case) Negotiation strategy and plan Negotiation and Commercial Term-sheet	Excellent Experience in various valuation methodologies with access to databases of both listed and unlisted companies Experienced and structured Negotiators
3	Due-Diligence and transaction closure	Final definitive agreement on the M&A transaction working with various stake-holders in the process	Strong Program Management skills of working with lawyers, accountants and consultants Experience structuring the deal for maximizing benefit to our clients shareholders

Sell-Side Mandates
Equirus team works closely with the promoter and management team of our client right from preparation of marketing material to due-diligence and transaction closure. Like in the buy side there are several intermediate deliverables that we provide that gives the comfort to our client that we are indeed getting the best value for the company.

	Steps in the Transaction	Key Deliverables	Equirus Differentiation
1	Preparation of Information Memorandum and marketing material	Collateral and Information Memorandum Detailed Process letter of how the sale process would run	Strategic positioning the transaction in the marketing material Detailed planning of the transaction in the process letter
2	Short-listing of potential buyers	Market-Analysis and buyer identification Shortlist of the buyers based on strategic fit and availability Internal Presentations for key stake-holders of the client on profile of short-listed buyers	Strategic thinking to identify different types of buyers both in terms of cultural fit and ability to realize the maximum value Relationship network with companies, Private equity funds, VCs, consultants and other intermediaries that will help us quickly find out various buyers in terms of interest
3	Valuation, Negotiation and signing the term sheet	Negotiation strategy and plan including synergy valuation for potential buyers Negotiation and Commercial Term-sheet	Excellent Experience in various valuation methodologies (Base case+ synergy) Experienced and structured Negotiators
4	Due-Diligence and transaction closure	Final definitive agreement on the M&A transaction working with various stake-holders in the process	Strong Program Management skills of working with lawyers, accountants and consultants Experience structuring the deal for maximizing benefit to our clients shareholders

In summary, Equirus’s M&A process is very structured and at the same time very efficient in terms of speed of execution. Our goal through this process is to becoming a trusted advisor to our clients.

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