Phase 1
Strategic Planning Phase and Sale Decision
At the beginning of the M&A process stands the strategic decision for a business sale.
AION analyzes together with the client the motives underlying the sale decision and develops a tailored transaction strategy.
This initial phase includes the definition of sale objectives, timeline planning, and initial company valuation.
The preparation and contract initiation phase lays the foundation for a successful M&A transaction.
Phase 2
Transaction Preparation and Due Diligence Readiness
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In the transaction preparation, AION optimally prepares the company for the sale process. This includes:
• Creation of a management presentation using existing data or from Northdata (Company Profile)
• Preparation of due diligence documents
• Company valuation using various valuation methods
• Legal and tax structure optimization
• Identification of value creation potentials
Phase 3
Buyer Identification and Long List Creation
AION creates a comprehensive list of prospective buyers using AI technology based on:
• Strategic buyers from the industry regarding their qualitative requirements as well as qualitative criteria such as values, motivation, leadership style
• Financial investors and Private Equity firms
• Management Buy-out (MBO) candidates
• International investors
The search phase utilizes AION's extensive network and databases for targeted buyer approach.
Phase 4
Initial Contact and Prospect Qualification
In the initial contact, AION contacts potential buyers discreetly and professionally.
The prospective buyers are qualified regarding their financial capacity, strategic fit, and transaction readiness.
This phase culminates in creating a short list of the most promising candidates.
Phase 5
Management Presentation and Company Presentation
AION organizes professional management presentations for qualified prospects. These include:
• Detailed company introduction
• Market position and competitive advantages
• Financial history and forecasts
• Synergy potentials for the buyer
• Q&A sessions with management
Phase 6
Valuation, Detailed Analysis and Indicative Offers
After the presentations, prospects conduct their valuation and detailed analysis.
AION assists in answering follow-up questions and coordinates information flow.
The phase concludes with obtaining indicative offers (Letters of Intent), which serve as the basis for further buyer selection.
Phase 7
Due Diligence Phase and Data Room Management
In the due diligence phase, AION grants selected bidders access to detailed company information through a secure virtual data room. The due diligence typically includes:
• Financial Due Diligence
• Legal Due Diligence
• Commercial Due Diligence
• Tax Due Diligence
• IT/Technical Due Diligence
Phase 8
Negotiation Phase and Purchase Agreement Structuring
The negotiation phase is the critical section of the M&A process. AION conducts parallel negotiations with multiple bidders to achieve the optimal purchase price and best transaction conditions. Core elements are:
• Purchase price negotiations and price adjustment mechanisms
• Warranties and guarantees
• Earn-out arrangements
• Closing conditions
• Asset Deal vs. Share Deal structuring
Phase 9
Closing and Post-Merger Integration
The closing marks the legally effective completion of the M&A transaction. AION coordinates:
• Fulfillment of all closing conditions
• Notarial certification
• Purchase price payment and escrow processing
• Handover of management
• Post-merger integration support