Mergers and Acquisitions (M&A)

Why

Why you need an independent partner in the M&A process

Mergers and acquisitions in Serbia rarely have a fully neutral advisor — M&A advice most often comes from a lawyer or auditor with their own angle on the transaction. Independent support through due diligence when buying a company, or when the advisor represents you as the seller, means someone is guarding only your interest throughout the purchase or sale.

The difference between a broker and an advisor

A broker earns from the deal closing. An advisor protects your value — including by recommending you walk away.

The consequences of due diligence that isn't thorough

Risks surface after the deal closes, once the negotiating position is already lost.

Signs you need a partner in the transaction

You are considering a sale, purchase, or merger, and you have no in-house M&A expertise.

Strategy depends on which side of the deal

A selling strategy and a post-acquisition strategy

The seller's goal is the highest possible sale value; the buyer's goal is the best return from the acquisition — and both are built before, or after, the transaction, not on closing day.

If you're selling

Balance sheet — clean and comparable, with no items that raise questions in due diligence.

Processes — documented and repeatable, not dependent on one person.

Organization — a structure that doesn't look risky to a buyer.

Management structure — a team that can run the company after the owner too.

If you're buying

Integration — aligning the systems, processes and culture of two organizations.

Organization — a structure that supports the new scale and goals.

Leadership — clear division of responsibilities from day one.

Synergy — a concrete plan for how and when the expected value is realized.

Common problems

Common problems we solve

Valuation with no basis

The price is set by feel, or by comparison to unrelated transactions.

Due diligence that misses risks

A superficial check fails to uncover hidden liabilities or overstated results.

A deal structure that harms one side

Payment terms, warranties and liabilities are not balanced.

Negotiations with no clear floor or ceiling

Emotion takes the place of a prepared position.

What you get

What you get from the mergers and acquisitions (M&A) service

Business valuation

An independent valuation, with a clear methodology.

Due diligence

Financial, operational and legal review before the transaction.

Deal structuring

Price, payment terms, warranties, closing conditions.

Negotiation

Representing the buyer's or seller's interest throughout the negotiation process.

Advisor coordination

Aligning legal, tax and financial advisors.

Support through to closing

Following the process from offer to signing and integration.

How we work together

What working together looks like

Initial conversation

We understand the goal of the transaction — sale, purchase, or merger.

Preparation and valuation

Preparing the valuation and preliminary documentation.

Due diligence and structuring

Reviewing the other party and defining the terms of the transaction.

Negotiation and closing

Leading negotiations through to signing and closing.

Who it's for, and who it isn't

Who this service is for — and isn't

Who it's for

Owners considering the sale of their company — Preparation and an independent valuation are needed before going to market.

Companies planning an acquisition — Due diligence and a deal structure that protects the buyer are needed.

Companies considering a merger — Aligning both sides' interests within the transaction structure is needed.

Who it isn't for

Non-binding, early-stage conversations with no concrete intent — The engagement makes the most sense once there is a serious intent to transact.

Transactions with no minimum of financial documentation — Due diligence requires that basic financial data exist.

Common mistakes

Common mistakes we see

Entering negotiations with no valuation

The price is set before it's clear what is actually being bought or sold.

Due diligence reduced to a formality

The review is done superficially, under deadline pressure.

Excessive emotional involvement from the owner

Decisions are made based on relationships, not on terms.

Neglected post-closing integration

The transaction is treated as finished at signing, when the biggest risks are still ahead.

If you recognize two or more of these — it's time to talk.

FAQ

Frequently asked questions

Do you work for both the buyer and the seller?

Yes, but within a single transaction we represent only one side.

How long does a typical M&A process take?

From a few months to over a year, depending on complexity and the parties involved in the negotiation.

Does the valuation include tax analysis?

We coordinate the tax and legal analysis with specialized advisors — lawyers and auditors involved in the transaction.

What if the transaction doesn't close?

Part of the value of the process is also the recommendation to walk away, if the terms aren't justified.

Do you also help after the transaction closes?

Yes, we follow the integration period as needed.

Do you help owners who want to sell their company?

Yes — from preparation and an independent valuation before going to market, through finding a buyer and negotiating, to closing the transaction. The goal is for the owner to enter the sale prepared, with a clear picture of the company's real value.

How is the fee for M&A advisory structured?

It depends on the size and type of transaction — most often a combination of a fixed fee and a success fee tied to the transaction. The first conversation is free; we define the structure before the engagement.