what we do

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Are you business owner (SMBs), craftsman, merchant and consider :

  • selling your business
  • to grow your business through the acquisition of another company

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How should you perform this transaction and at what price ?

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Luxvaluation has the expertise and a network of professionals and experts to evaluate your business, assist you throughout the entire process and put you in contact with potential buyers or sellers .

Valuation

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The assessment is only one step in the support mission, which is a complex process involving finance, business strategy, law, accounting and taxation.

Read more . . .

It can not be standardized, or performed by a "pseudo business valuation software", as there are many parameters to consider. For instance :

  • Is there a strong relationship of dependence between the company and its leader ?
  • How is corporate governance organized ?
  • How are the human resources managed ?
  • Depending on the context, does the company, have good business prospects ?
  • What investments are required in order to meet the challenge of growth ?
  • Etc.

This can lead to significant divergence between buyers and sellers point of view: of what is the proper value of the company : it’s financial value and it’s strategic value. This explains the difference between "value" and "price" of a company.

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Company valuations therefore requires expertise and insight in their analysis, as well as a critical mind in order to select and use the most appropriate methods to establish an objective price range, facilitating negotiations.

Read more . . .

The main approaches used to value a company are :

  • Adjusted Book Value : assets and liabilities are adjusted and goodwill is assessed
  • Multiples approach : a comparison is made based on a multiple of aggregates (e.g. EBIT) and compared to equivalent transactions regarding companies with the same profile
  • Income approach : Cash-flows (EBIT or Dividends) are discounted using a justifiable interest rate

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The whole process consists of 6 steps :

  • Collect information
  • Perform an economic diagnosis
  • Select the most appropriate method of valuation
  • Develop a business plan
  • Determine the valuation assumptions
  • Establish an objective price range

Read more . . .

Finally, Luxvaluation delivers a memorandum of introduction and valuation of the company. which will be used during the negotiation phase, requiring valuable assistance.

 

INTELLECTUAL PROPERTY RIGHTS

Taxpayers entering the current regime until 30th June 2016 may benefit from the old IP regime until 30 th June 2021.
The law refers to IP rights such as :

  • A domain name
  • or logo, a model
  • A patent
  • A trademark
  • Property rights in computer software

The favourable luxemburgish fiscal framework has led to creation of many companies holding intellectual property rights..

But what about all of the intellectual property owned, exploited or acquired by a company ?

Besides the aforementioned items, there are trade secrets, know-how, manuals, publications, distribution and exclusivity contracts, etc. These hidden assets should be valued because they contribute to the competitiveness and financial performance of the company.

Finally, the valuation of patents and licenses can be achieved by using conventional methods like cost-benefit, as well as more complex approaches like the Real options and Game theory.

Intermediation

You are swamped by daily activities and have insufficient time to search for or select a buyer or seller, whose activity is compatible with your development strategy ?

For a term you can entrust this research Luxvaluation.

Luxvaluation works with a significant network of professionals in France and in Luxembourg likely to find the required applicant for a sale or an acquisition whereby anonymity and total discretion remain guaranteed.

Subsequent to a rigorous selection, we introduce a reliable buyer to the seller, or a company with sound fundamentals to be acquired to the buyer compatible with the development strategy of the latter.

Contact us

Assistance

The key steps of assistance are :

For the seller :

  • Acknowledgement of the transfer project
  • Pre-assessment and definition of the assignment’s scope
  • Pre-sale preparation of the company
  • Valuation of the company
  • Drafting of the memorandum of introduction and valuation
  • Circulation of the offer and the memorandum
  • Preselection of investors
  • Assistance during negotiations
  • Contribution to the transfer protocol and legal acts
  • Post-sale assistance

For the buyer :

  • Familiarization with the proposed takeover plan and definition of the assignment’s scope
  • Determination of the target
  • Circulation of the offer
  • Preselection of targets
  • Assistance to the drafting of the letter of intend
  • Performance of the acquisition audit
  • Assistance during negotiations
  • Legal, fiscal and financial engineering , Contribution to the transfer protocol and the legal acts
  • Post-buy assistance
  • Contribution to the transfer protocol and the legal acts

Fees

Whether for a seller or a potential buyer, we favor a first on-site interview in order to familiarize ourselves with your corporate culture and philosophy. This is also the opportunity to clarify both your expectations and our methods.

Fees will be established on demand and are customized to each individual situation.

Our Prescribers

  • Accountants & Chartered Accountants
  • Law firms
  • Trade and craftsman's federations located in France and Luxembourg
  • Investment banks
  • Chambers of Commerce , Industry & Crafts
  • Venture capital firms

They trust us

Luxvaluation is member of:

Partners & Customers:

About Us

Luxvaluation has a well developed network of highly skilled experts, allowing it to deal with all aspects of company valuation. They are all subject to professional secrecy and total discretion.

See our experts

 

Illi-Jacob Jean-Luc

M. Jean-Luc Illi-Jacob

Founder and Managing Partner of Luxvaluation Sàrl, Jean-Luc Illi Jacob is independent economic advisor, valuer of SMEs and intellectual property in Luxembourg.

accounting firms 24 as a chartered accountant for 24 years, Jean-Luc had the opportunity to advise heads of Luxembourg and French company managers on various issues such as transfer and acquisition of businesses, Financial Engineering, liquidation of companies, Taxation, intellectual property and company valuation.

Jean-Luc holds a Master in Business Administration from the University of Nancy II (France), A Master's degree in Audit and Management Control at The University of Metz (France), as well as the CCEC (Postgraduate program for chartered accountants) from the University of Luxembourg.

Languages : Français, Anglais, Allemand, Luxembourgeois

Mr Jean-Luc Illi-Jacob

Founder and Managing partner of Luxvaluation Sàrl, Jean-Luc Illi-Jacob is an independent economic advisor and expert in SMEs and intellectual property valuation in Luxemburg.

While working for banks and accounting firms as a chartered accountant for 24 years, Jean-Luc had the opportunity to advise Luxembourgish and French company managers on various issues such as transfer and acquisition of businesses, financial engineering, corporate law, tax, intellectual property and company valuation.

Jean-Luc holds a Master’s degree in Business Administration from the University of Nancy II (France), a Master’s degree in Audit and Management Control from the University of Metz (France), as well as the CCEC (Postgraduate program for chartered accountants) from the University of Luxembourg.

Languages: French, English, German, Luxembourgish

 

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Me Stéphane Ebel

Stéphane Ebel advises an international clientele on the tax aspects of Luxembourg and cross border transactions, in particular real estate, private equity and finance transactions. He is also involved in matters relating to corporate law, insolvency and liquidation of Luxembourg companies, and to general business law..

Additionally , He was previously a member of the Tax law practice of Arendt & Medernach, a major law firm in Luxembourg. He is a member of the Luxembourg Bar since 2005.
Prior to joining the Luxembourg Bar, Stéphane worked for a pharmaceutical multinational company and a consultancy firm as tax advisor.

He has got experience in international tax planning, corporate and personal taxation, the taxation of individuals, VAT, liquidation of companies, as well as general business law.
He is also a lecturer in the Institut de Formation Bancaire Luxembourgeois (IFBL) in corporate and international taxation.
Stéphane holds a Master’s degree in Business Law (Maîtrise de droit des Affaires) and a ( DESS Diplôme de Juriste Conseil d’Entreprises (DJCE) from the University of Strasbourg (France)) from the University of Strasbourg (France), as well a Certificate of Corporate law from the University of Montpellier (France).

Languages : Français, Anglais, Allemand, notions de Luxembourgeois et d’Espagnol

Stéphane Ebel, Esq.

Stéphane Ebel advises an international clientele on the tax aspects of Luxembourg and cross border transactions, in particular real estate, private equity and finance transactions. He is also involved in matters relating to corporate law, insolvency and liquidation of Luxembourgish companies, and to general business law.

He previously was a member of the Tax law practice of Arendt & Medernach, a major law firm in Luxembourg. He is a member of the Luxembourg Bar since 2005.

Prior to joining the Luxembourg Bar, Stéphane worked for a pharmaceutical multinational company and a consultancy firm as tax advisor.

He has got experience in international tax planning, corporate and personal taxation, VAT, liquidation of companies as well as general business law.

He is also a lecturer in the Institut de Formation Bancaire Luxembourgeois (IFBL) in corporate and international taxation.

Stéphane holds a Master’s degree in Business Law (LLM in Business) and a DESS – Diplôme de Juriste Conseil d’Entreprises ( DESS Diplôme de Juriste Conseil d’Entreprises (DJCE) from the University of Strasbourg (France)) from the University of Strasbourg (France), as well a Certificate of Corporate law from the University of Montpellier (France).

Languages : English, French, German and basic knowledge of Luxemburgish and Spanish.

stephane.ebel@duvieusartebel.com

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Mr Pierre Gendraud

Pierre Gendraud is an expert in intellectual property before the Civil Court of Appeal and the Administrative Court of Appeal, in Paris, France, and is authorized by the Supreme Court.

Pierre is also a lecturer at the International Centre of Studies in Intellectual Property (CEIPI) in Strasbourg, France.

He advises an international clientele on all aspects of intellectual property, notably litigation, transactions, negotiation of research agreements or evaluation of intellectual rights. He has a large experience in evaluation of incorporal assets, notably intellectual rights such as patents, know-how, trademarks, or designs.

He is graduated as an engineer from ESPCI (School of Physics & Chemistry of Paris) ; he also holds a Master’s degree in Business Law (LLM in Business) from the University of Paris and a DU (University degree, CEIPI) from the University of Strasbourg, France.

Languages: French, English, Spanish.

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M. Jean-Etienne Palard

Jean-Etienne Palard is Lecturer in Corporate Finance at IAE Bordeaux since 2010. It ensures the co-responsibility of the Master II Financial Management and provides solutions to various audiences both in initial training, that training in different Master programs and MBA in France and abroad.

In particular, it teaches financial engineering, mergers and acquisitions business valuation. Researcher at the Research Institute for Organization Management (IRGO), he is the author of several finance books, articles published in scientific journals and has participated in many international conferences in the field of strategy and finance.

Before joining academia, Jean-Etienne a commencé sa carrière professionnelle tant qu’analyste en Fusions-Acquisitions au sein du département M&A de Calyon (2 as a chartered accountant for 24 years). He joined PwC (3 as a chartered accountant for 24 years) within the Transaction Services Department and participated in numerous audits of acquisition (due diligence) in different sectors (Financial Services, distribution, health, etc.)

Languages : English, French

Mr Jean-Etienne Palard

Jean-Etienne Palard, PhD, is an Assistant Professor of Corporate Finance at IAE Bordeaux – University of Bordeaux. He holds a PhD in Finance, a MSc in Economics from Ecole Normale Supérieure and a MSc in International Finance from Institut d’Etudes Politiques de Paris. He is the director of the Master of Financial Management and gives lectures to different public (Master, MSc, MBA) in France and in various countries (Canada, Hungary, Lebanon, Vietnam,…).

His teaching interest includes financial engineering, mergers and acquisitions and corporate valuation. He is the author of several books of corporate finance, articles published in prestigious scientific journals and has participated in many international conferences in the field of strategy and finance.

Before joining the academic world, Jean-Etienne began his professional career as a financial analyst for CA-CIB in the M&A department for 2 years. He joined PwC in the Transaction Service Department and participated in due diligences in different sectors (financial services, retail, health,…).

Languages: French, English

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M. Hery RAZAFITOMBO, PhD

Hery Razafitombo est Maître de Conférences en Finance à l’ESM-IAE – Université de Lorraine (Nancy-Metz) et Assistant Professeur Associé à l’Université du Luxembourg. Il est le concepteur des masters de Finance, Contrôle et Audit de l’ESM-IAE et assure des interventions auprès de différents publics en formations initiale et continue, en France et à l’étranger.

Il enseigne notamment la gestion d’actifs, les mathématiques financières, l’analyse et l’évaluation financière, et plus récemment la valorisation des actifs et fonds immobiliers. Il est chercheur au sein du Centre Européen de Recherche en Économie Financière et Gestion des Entreprises (CEREFIGE). Il est auteur d’ouvrages et d’articles scientifiques et a participé à de nombreux congrès internationaux dans le domaine de la Finance. Il est porteur de projets de recherche sur l’analyse de la performance des fonds d’investissement.

Il est consultant et expert dans le domaine de l’analyse de la performance des fonds d’investissement. Il opère également en tant que Conseil économique et intervient régulièrement auprès d’institutions financières. Il est membre de l’Economist Club du Luxembourg, membre de l’Institut Europlace de Finance et de l’Association Française de Finance.

Languages : Français, Anglais et Malgache

Mr Hery RAZAFITOMBO, PhD

Hery Razafitombo is a Lecturer in Finance at ESM-IAE University Lorraine (Nancy-Metz, France) and Associate Professor at the University of Luxembourg. He is founder of Master diplomas in Finance, Management Control and Audit at ESM-IAE. He presents courses to different audiences in France, Luxembourg and abroad.

His teaching fields include Asset and portfolio management, Computational finance, Corporate finance and Valuation, and recently Real estate valuation methods. He is part of CEREFIGE researchers, the Center for economics, finance and management research at the University of Lorraine (Nancy-Metz). His research focuses on mutual fund performance evaluation. His interests include theory, empirics and consultative projects with financial institutions and fund industry in France and Luxembourg. He published books and articles in scientific journals and has participated to various international conferences.

He is also a consultant and an expert in the area of fund investment evaluation. He is an Operating Advisor (Luxembourg). He is member of the Economist Club du Luxembourg, the Finance Europlace Institute and the French Finance Association.

Languages: French, English and Malagasy

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LUXVALUATION Sàrl

12 Henneschtgaass

L-8373 Hobscheid

Email: contact@luxvaluation.com

Phone: (+352) 661 260565