69 articles in this category
Equity, acquisition debt, vendor credit, mezzanine and distribution capacity: how to size the financing of a holding-led SME leveraged buyout without over-leveraging the target.
With a vendor loan, the capital gain is taxed in the year of the sale, but Article 1681 F of the French Tax Code lets you spread the payment in line with instalments received, up to N+5.
The headline sale price is not the net. Flat tax at 31.4%, 500,000 € retirement allowance, CEHR surtax, fees: how to work out what you really keep after the sale.
The 7 costliest tax mistakes owners make when selling a business: retirement relief, social levies, shares or goodwill, high-income surtax, contribution-sale and vendor financing.
Asset-based, EBITDA multiples or DCF: three methods that never produce the same price. How to choose, normalise EBITDA and build a sale price range that holds up with a buyer and the tax authorities.
Capital, acquisition debt, parent-subsidiary regime, tax consolidation and dividend upstreaming: the operational structuring of an acquisition holding, step by step.
Gift or sale, Dutreil pact, fairness between the successor child and the others: the 2026 tax and wealth roadmap to pass on the family business.
A domain-by-domain checklist to audit an SME before buying it: financial, tax, employment, legal and commercial. Documents to request, the warranty agreement and the 150-0 B ter tax deferral updated for 2026, from the buyer's perspective.
Partnership dissolution, SARL/SAS share transfer, joint ownership, inheritance tax, the Dutreil Pact and key-person insurance: the rules to keep a business running when a shareholder dies.
Asset deal or share deal? Registration duties, the seller's capital gain, liability transfer: compare selling the business goodwill versus the shares to decide in 2026.
Steps of a voluntary closure: dissolution by shareholder vote, amicable liquidation, profit or loss on liquidation, 2026 taxation, transfer tax and costs — the owner's step-by-step guide.
The role of a sale adviser or investment bank in a sale, their fees (engagement retainer and success fee), the exclusive mandate and the situations where their involvement is genuinely worthwhile for an owner.
How to value a professional practice's client or patient base, the lawfulness of its sale subject to free choice, the taxation of the gain and the Article 238 quindecies exemption, and the client-introduction clause.
How to read valuation multiples (EBITDA, revenue) by sector, what justifies a premium or a discount, and why these benchmarks are only a starting point. A cautious reading of the 2026 benchmarks to situate your company's value.
An OBO lets the owner secure part of their company's value in cash while staying in charge. Holding structure, leverage, taxation (contribution-sale under Article 150-0 B ter) and watch points around abuse of law.
Our articles provide general guidance. A discovery meeting with Samuel HAYOT allows us to analyse your specific case.