Academy

Before pricing, buyers rebuild your income statement: personal expenses, founder salary, related-party rent. Which adjustments apply and how to anticipate them.

A search fund is a vehicle in which an entrepreneur raises capital to find, buy, and run an SME. How it works, how it's financed, and what it means for sellers.

Selling your business? Learn which tax issues the buyer will review during due diligence and how to spot and resolve contingencies before they affect the deal.

Which signals speed up or jeopardize an M&A deal? The main green and red flags in due diligence, and how to bring your business to the process in top shape.

Enterprise value (EV) definition with formula, interactive calculator, step-by-step example, and how it differs from equity value in M&A deals.

What a going concern is, how it's valued, who buys it, and the steps of the M&A process to sell it successfully.

Here are the 5 stages of an M&A deal, from the first contact between buyer and seller to closing, explained step by step for business owners.

Find out what impact investing is, how it differs from ESG, what returns it generates, how it's measured, and which trends are shaping the sector in Spain.

What an LBO is, how it works, which companies are good candidates, and the risks of leverage in M&A and private equity deals.

See what escrow is in M&A, how it works, and why it protects both buyers and sellers in a business sale.

See the key metrics that determine real value when buying and selling businesses: stability, profitability, risk, and revenue quality.

The information memorandum (IM) in M&A: definition, contents, how it differs from the teaser, and why it's key when selling a business.

Learn how to prepare and negotiate a letter of intent (LOI) when selling your SME. Keys to protecting your interests and maximizing value in the sale.

Recurring vs. non-recurring revenue: how each affects a company's value in M&A, and keys to assessing stability and risk.

Learn how gross margin and operating leverage help analyze a company's profitability and operating risk during an acquisition or merger.

Legal aspects of selling your SME: due diligence, shareholders' agreements, contracts, tax rules, and how to avoid legal pitfalls to close the deal.

A management buyout (MBO) is a corporate transaction in which a company's managers buy part or all of the business they work for to take control of it.

Free cash flow (FCF) is one of the most frequently cited concepts in business accounting and a key indicator of a company's financial health.

Learn what EBITDA multiples are and how to value your business with real Spanish market data by sector and investor type.

What an SPA is, which clauses it should include, when it's signed, how it differs from an APA, and the most common mistakes in the purchase agreement.

An NDA (non-disclosure agreement) is essential when selling a business: it provides security and binds the parties not to share sensitive company information.

Here's what an earn-out is, how it works, when it's used, its pros and cons, and a practical example to understand this key M&A clause.

What EBITDA is, how to calculate it with a real example, and how it's used to value companies in M&A. A complete guide with formulas and examples.

Learn what OPEX is, what it includes, how to calculate it with a real example, how it differs from CAPEX, and why it matters when valuing a company in M&A.

Structuring an M&A deal is essential to set out both parties' rights and obligations. We explain the three traditional ways to structure these agreements.

Find out what an LOI is, which clauses it should include, when it's signed, and the most common mistakes when negotiating a letter of intent in M&A.

Knowing the different types of investors is essential to understanding which profile is right for your company.

What the Q&A stage is and how to prepare for when it's time to answer the investor's first questions.

See what a teaser is in M&A, what information it should include, how it's distributed, and common mistakes when presenting your business to investors.

Financial due diligence is the key analysis before buying a company. Here's what it includes, how it's structured, and why it can make or break an acquisition.

What sets a merger apart from an acquisition, the types of each, their advantages, and how to choose the best structure for an M&A deal.

We explain, in simple terms, five concepts we find useful when approaching the sale of a business or any M&A process in general.