CORPORATE
FINANCE
RESTRUCTURING & DISTRESSED
ADVISORY
INTERNATIONAL TRANSACTION
SERVICES
TRADITIONAL MERCHANT
BANKING
CORPORATE
FINANCE
DISTRESSED
ADVISORY
INTERNATIONAL TRANSACTION
SERVICES
TRADITIONAL MERCHANT
BANKING
CORPORATE FINANCE
MERGERS, ACQUISITIONS AND DISPOSALS

Birkett Stewart McHendrie creates significant value for its clients before, during and after the transaction process, through:

 

Providing comprehensive business valuations;

Efficiently managing the transaction process;

Advising on and participating in negotiations;

Providing structuring solutions to ensure that the transaction is structured in an efficient manner;

Determining the optimal funding structure for a transaction;

Assisting with due diligence, risk management and governance; and

Communicating to all stakeholders during the transaction process.

 

We provide advice on a full range of transactions, including:

 

  • Mergers and acquisitions;
  • Leveraged buyouts;
  • Disposals;
  • Joint ventures;
  • Spin-offs; and
  • Divestures and other restructurings.
DUE DILIGENCE

Birkett Stewart McHendrie has a staff complement of 9 Chartered Accountants who have extensive audit and financial due diligence experience having provided such services to a wide range of clients including private equity funds, corporates, large multinationals and family businesses.

 

Birkett Stewart McHendrie ‘s expertise is augmented by industry specialists to ensure our clients receive a detailed analysis that covers all aspects of a financial due diligence required in any M&A transaction (or other) and includes a valuation of the underlying business(es).

 

We provide our clients with a detailed financial due diligence report that highlights all considerations that would be required in the implementation of a transaction and ensures our clients make the most informed investment decision.

EQUITY RAISINGS + STOCK EXCHANGE LISTINGS

We assist our clients in growing their business by raising capital to repay debt and fund acquisitions.

 

In addition to structuring and raising capital through listings and placements, our team also offers specialist advice for:

 

  • Rights offers;
  • Share buy-backs; and
  • Unbundlings.
DISTRESSED CORPORATE ADVISORY

Birkett Stewart McHendrie offers assistance to distressed companies and business rescue practitioners through the provision of corporate advisory services in business rescue processes.

 

We also assist our clients in raising the required capital to support them with their turnaround strategy.

BUSINESS RESCUE PROCESSES

Birkett Stewart McHendrie offers assistance to distressed companies and business rescue practitioners through the provision of corporate advisory services in business rescue processes.

 

We also assist our clients in raising the required capital to support them with their turnaround strategy.

RESEARCH

We also provide our clients with detailed research concerning the market and industry in which:

 

  • they operate in; and/or
  • an acquisition target operates in.
RESTRUCTURING + BALANCE SHEET OPTIMISATIONS

Birkett Stewart McHendrie has specialist experience in providing clients with innovative solutions to optimise their capital structure, including clients in distressed situations. Restructuring solutions typically require a detailed assessment of the company’s value, future cash flows and liquidity requirements and subsequent negotiations with all stakeholders to restructure existing debt and to raise new capital in the debt and/or equity market.

 

We offer the following integrated services:

 

  • M&A advisory and execution;
  • Equity and debt fundraising and negotiations;
  • Acquisitions;
  • Disposals or partial exits;
  • Take privates/delistings; and
  • IPO's.
VALUATIONS

Birkett Stewart McHendrie offers a wide range of objective and independent valuation services to listed, private, multinational and governmental organisations.

 

Our service offering includes:

 

  • Company valuations;
  • Independent expert reports;
  • Fairness opinions; 
  • Property valuations; and
  • Option valuations.

 

Our team looks at each transaction holistically and provides a tailored service offering on a case by case basis – which is obtained from the insights gained from a number of local industries and market niches using the team’s experience.

JSE, CTSE, A2X And Listing Requirements

BSM Sponsors offer professional multi-disciplinary advice to clients on the application and interpretation of the Johannesburg Stock Exchange and the Cape Town Stock Exchange Listings Requirements (including the A2X secondary exchange and the Equity Express Security Exchange. We are familiar with the ever-changing landscape, and we have good relationships with the various regulatory bodies and provide advice, backed by years of experience, on the application of all relevant regulatory frameworks.

PRIVATE EQUITY ADVISORY

Birkett Stewart McHendrie offers fully integrated services for investors and private companies, which include:

 

  • M&A advisory and execution;
  • Raising equity and debt funding;
  • Acquisitions;
  • Disposals or partial exits;
  • Take private/delistings from Johannesburg Stock Exchange; and
  • IPOs and restructurings.
DEBT ADVISORY AND ARRANGING

We offer corporate and private equity borrowers independent and objective financing advice and can assist in arranging any type of debt finance.

BLACK ECONOMIC EMPOWERMENT TRANSACTIONS

We assist our clients in achieving their BEE objectives and offer advice on the following:

 

  • BEE codes and industry charters;
  • Structuring;
  • Funding;
  • Process;
  • Identification and introduction of a BEE partner;
  • Valuation; and
  • JSE/TRP/Competition Authorities aspects.
RESTRUCTURING AND DISTRESSED ADVISORY
IN PARTNERSHIP WITH METIS STRATEGIC ADVISORS

With over 125 years combined experience in the turnaround, restructuring, and related transaction services industry, the Metis Strategic Advisors (“Metis”) and BSM management teams have successfully amalgamated their expertise (through an unincorporated joint venture) to build an unrivaled track record in Southern Africa when it comes to managing and advising on, major restructurings in the region.

 

We work as a seamless and integrated team with client engagement being managed through one lead entity. Our team is collectively comprised of 25 Metis and BSM professional staff and consultants with expertise spanning a broad range of industries. Unified communication between the teams is assisted through our shared office in Johannesburg, South Africa.

RESTRUCTURING + BALANCE SHEET OPTIMISATIONS
PRE-BUSINESS RESCUE ENGAGEMENT
STAKEHOLDER ENGAGEMENT STRATEGIES
DEBT ADVISORY AND ARRANGING
DISPOSALS OF NON-CORE ASSETS AND BUSINESSES
RESTRUCTURING AND REFINANCING
CAPITAL RAISING FOR CORE BUSINESSES
EXIT OF CORE ASSETS
CREDITOR COMPROMISES
CREDITOR VALUE CREATION AND DISTRIBUTION
PRIVATE EQUITY ADVISORY
BUSINESS RESCUE AND LIQUIDATION VALUATIONS
INTERNATIONAL TRANSACTION SERVICES

With a global shift towards remote working off the back of COVID-19, and nationwide lockdowns, we have taken advantage of the significant opportunity to expand our transaction service offering internationally. Our clients welcome the opportunity to procure our high-quality resources at very competitive South African rates.

 

Our team of finance graduates, chartered accountants, and CFAs, with experience across multiple sectors, makes BSM International Transaction Services well placed to partner with international clients and assist them to make better investment decisions.

 

BSM’s transaction services offering provides high quality financial analysis and decision-making support to the North American, United Kingdom, European, Middle East and African investment communities. We provide our clients with external services and/or a flexible and cost-effective extension to their in-house team, enabling them to extend their capability and optimise their resources.

  • PRIMARY
    • FINANCIAL DUE DILIGENCE
    • VALUATIONS

Flexible, cost-effective advisory services, utilising, where applicable, time zone arbitrage for the benefit of our North American, United Kingdom, European, Middle-East and African clients.

  • SECONDARY
    • RESEARCH
    • FINANCIAL MODELLING
    • PREPARATION OF MARKETING DOCUMENTS
    • DUE DILIGENCE + MANAGEMENT
TRADITIONAL MERCHANT BANKING
BACKING OUR CLIENTS THROUGH EQUITY PARTICIPATION
ACCESS TO CAPITAL THROUGH OUR NETWORK OF HNWI, INSTITUTIONAL INVESTORS AND LENDERS
FOCUS ON TRANSACTIONS WHERE WE ADD SIGNIFICANT VALUE
FOCUSED APPROACH ON SECTORS WHERE WE HAVE BUILT CORE EXPERTISE
ABILITY TO IMPLEMENT ANY FORM OF CORPORATE ACTION
STRONG FRANCHISE IN DISTRESSED ADVISORY PROVIDING A DEFENSIVE BUSINESS MODEL
EQUITY SPONSOR SERVICES

We offer sponsor services to equity issuers listed on the main board of the JSE as a JSE-accredited equity sponsor. Our team is well regarded in the market and is staffed by dedicated professionals. 

 

The BSM equity sponsor team offers professional multi-disciplinary advice to clients on the application and interpretation of the JSE Listings Requirements. We have an excellent relationship with the JSE and provide advice, backed by years of experience, on the application of all relevant regulatory frameworks. 

CORPORATE ACTIVITY (DRAFTING AND REVIEWING OF JSE RELATED DOCUMENTATION AND LIAISING WITH REGULATORY BODIES)

Assistance with drafting and reviewing of JSE related documents, including but not limited to SENS announcements, shareholder circulars and Integrated Annual Reports;

 

Liaising with regulatory bodies in relation to continuing obligations and corporate actions (eg., JSE, TRP, etc.); and

 

Liaising with other parties (e.g., Legal advisors, external auditors, reporting accountants, media coordinators, transfer secretaries, etc.).

REGULATORY COMPLIANCE

Ensuring compliance with JSE Listings Requirements;

 

Ensuring all corporate actions are executed in a compliant manner considering the JSE Listings Requirements and associated regulations such as TRP code, etc.;

 

Ensuring compliance with continuing obligation rules mandated by the JSE Listings Requirements; and

 

Providing updates on a regular basis regarding changes to the JSE Listings Requirements and any other associated and relevant regulation.

INVESTOR RELATIONS & MARKET INTELLIGENCE (ADDITIONAL OFFERING)

Establishing a database of core institutional investors for regular communication and roadshows;

 

Assistance with planning and attending roadshows;

 

Facilitating feedback from institutions including perception audits;

 

Reviewing correspondence; ensuring message consistency, and importantly, regulatory compliance and relevance; and

 

Market intelligence regarding relevant market movements, including unusual share price and trade activity.

Birkett Stewart McHendrie provides differentiated, strategic, and financial advice to clients across various industries and business life-cycles. We combine expertise with sector specialisation, ensuring an in-depth understanding of our clients’ requirements.