Transaction advisory
Financial advice that secures your strategic transactions. Disposal, acquisition, investor entry, partnership: these decisions commit a company for years. MGI BFC supports you from initial analysis to closing, with the rigour of an audit firm and deep knowledge of the Tunisian and West African markets.
Valuation using recognised methods: discounted cash flow (DCF), sector multiples and listed or transaction comparables, adjusted net asset value. Defensible valuation reports for a disposal, an equity investment, a dispute or a reorganisation.
Financial, tax and social due diligence, buy-side or sell-side. Risk identification, normative adjustments, quality of earnings and normative cash analysis.
Building and reviewing financial models: business plans, financing plans, sensitivity analysis, debt and equity structuring.
Structuring of equity investments, disposals and partnerships, term-sheet and valuation negotiation, coordination of advisers through to closing.
1. Scoping of the transaction and its objectives. 2. Analysis and valuation work. 3. Documentation (information memorandum, data room) or critical buy-side review. 4. Negotiation and execution through to closing. Every engagement is partner-led.
Tunisian SMEs and mid-caps selling or growing, groups in reorganisation, SICAR, FCPR and investment funds (entry and exit due diligence, annual portfolio valuations), international buyers and investors.
Over 2023-2025, MGI BFC's Transaction Advisory team advised on transactions totalling more than TND 100 million raised and mobilised (fundraisings, equity investments, strategic partnerships) for Tunisian SMEs and large groups, acting as lead advisor on both sell-side and investor-side mandates. See also our fundraising practice.
Mainly DCF, sector multiples and comparables, and adjusted net asset value. The choice and weighting depend on the sector, maturity and context of the transaction.
Both. Sell-side to prepare and defend value; buy-side to secure the decision and the price.
Yes, regularly: entry and exit due diligence, annual portfolio valuations, support on private equity transactions.
Before you commit, we examine the quality of earnings, normalised EBITDA after non-recurring items, net debt and debt-like items, normative working capital, off-balance-sheet commitments and the reliability of the underlying accounting. The output is a report that feeds directly into price negotiation and the warranties of the sale agreement.
For sellers, we prepare the business for scrutiny: pre-emptive analysis of the figures a buyer will challenge, remediation of weak points, and a vendor due diligence report that keeps the seller in control of the narrative and the timetable.
Multi-method valuations combining discounted cash flows, sector multiples and adjusted net asset value, presented as a football field with explicit assumptions. Our proprietary MGI BFC Index tracks EV/EBITDA multiples of Tunisian companies by sector and anchors our market references.
Three-statement models, business plans and scenario analyses built to investor standards: auditable, documented, and designed to survive review by a lender or an investment committee.
From information memorandum to closing: process management, data-room preparation, coordination with lawyers and tax advisers, support in negotiating price adjustments and completion mechanisms.
Scoping. Every engagement starts with a definition of scope, materiality and timetable, formalised in an engagement letter.
Fieldwork. Partner-led teams work directly with management and the data room; findings are shared as they emerge, not discovered in the final report.
Reporting. Deliverables are written to be used by boards, investment committees, lenders and counsel, with an executive summary that states conclusions, not just observations.
Deep knowledge of the Tunisian market, its accounting standards, its tax regimes and its private equity ecosystem of SICARs and FCPRs, combined with the standards and cross-border reach of MGI Worldwide, present in more than 100 countries. We work regularly alongside international buyers, regional funds and family shareholders, in French and English.
Typically three to six weeks depending on the size of the target, the quality of the data room and the agreed scope. A red-flag review can be delivered faster when a deal timetable requires it.
Yes, that is the normal configuration. We coordinate findings with counsel so that financial risks are reflected in the warranties and price mechanisms of the sale agreement.
Regularly. We act as the local financial eyes of international acquirers: due diligence, valuation benchmarks through the MGI BFC Index, and post-completion accounting integration. See our guide for foreign investors.