74 articles in this category
Buying out an operating shareholder — a disagreeing co-founder, a retiring director, an exiting manager-shareholder — is not an asset deal. Here is the methodical, defensible pricing framework, fiscally optimised and financially sustainable for the company.
Before signing a letter of intent (LOI) to acquire a French SME, twenty financial checks must be completed: adjusted EBITDA, normalised working capital, net debt, off-balance-sheet commitments, latent tax exposure, customer concentration. A French CPA's playbook with actionable checklist and 2026 watchpoints.
Transaction Services (TS) sit at the heart of every serious M&A process, yet remain opaque for many business owners approaching their first deal. This article explains what TS teams actually deliver — Quality of Earnings, normalised working capital, net debt analysis, and pricing mechanisms — and when to engage them, on the buy side or the sell side.
Transferring a French business in 2026 is not something you improvise. Valuation methods (EBITDA multiple, DCF, restated net assets), deal structures (LBO, OBO, Dutreil, family buy-out), and the tax treatment of professional capital gains: this guide gives owners and investors the tools to steer a sale and defend a credible price in front of a demanding buyer.
Selling shares in a French company (cession de titres) means transferring the legal shell itself — including all liabilities. In 2026, the seller must navigate the 31.4% flat tax, potential 500,000 € retirement relief for retiring directors, and possible deferral via a holding. Here is how the rules work in practice.
Which valuation method should you use for an SME: DCF (discounted cash flow), EBITDA multiples, adjusted net book value, or comparables? This guide analyses each approach — when to use it, its limits, the discounts and premiums that shift the result, and why cross-referencing methods is standard market practice.
Five-to-ten-year anticipation window, €100,000 personal allowance every 15 years, donation-partage at frozen valuation, Family Buy-Out, 15-year deferral of duties under Article 397 A: the levers of a successful family business transfer in 2026.
LOI, due diligence, SPA, assets and liabilities warranty, earn-out, closing, capital gains tax and registration duties: what a Paris-based seller needs to lock down to sign the final sale agreement in 2026.
What financial forecasts should you prepare when selling your business? From normalised EBITDA to the data-room, Hayot Expertise's guide to building a credible transaction file in 2026.
From the letter of intent to closing, the sale protocol structures the price mechanics, guarantee of assets and liabilities (GAP), earn-out and non-compete provisions. Discover the critical clauses, common pitfalls and the concrete role of the chartered accountant in a share or business asset sale in France in 2026.
Restaurant, hotel, boutique, bakery: how to build a defensible valuation before selling a French fonds de commerce in 2026. Sector turnover benchmarks by activity, EBE multiple method, worked example at €600,000 CA, registration duties under Article 719 CGI, and the chartered accountant's role. A rigorous seller's file changes the negotiation.
Acquisition audit, business valuation, asset vs share deal, registration duties, financing and lease: the complete guide to buying a restaurant in France.
A buyer under time pressure does not always have 8 weeks for a full due diligence. Here is the express 3-week method from Hayot Expertise: 15 accounting, tax and employment red flags to analyse in 21 days.
Full sale, MBO, Dutreil family transfer, share contribution to a holding company, LBO: how to select the right transmission structure based on your profile, fiscal objectives, and the buyer's profile. 2026 comparative analysis by Cabinet Hayot Expertise in Paris.
The business sale is signed. What remains is equally critical: managing your net capital, choosing between PFU and progressive income tax, leveraging deferral or purge mechanisms, building a durable wealth allocation and aligning retirement with transmission. This guide maps the decisions to take in the 24 months after closing.
Our articles provide general guidance. A discovery meeting with Samuel HAYOT allows us to analyse your specific case.