Commercial due diligence for investment decision

Assignment

JBR was approached by Smile Invest to conduct commercial due diligence (CDD) prior to the decision to acquire a majority stake in FMTC.
JBR's advice included detailed validation of the underlying drivers in the information memorandum and examination of the company's future prospects.

Background

Smile Invest is a European investment company, founded in 2017, with a focus on companies headquartered in the Benelux region. Smile Invest focuses on companies that respond to several core themes, including sustainability and digitalization.
FMTC is a market leading player in the field of certified safety training for professionals in the on- and offshore wind, oil & gas and maritime industries.

Problem Statement

Before making an investment decision in FMTC, it was important for Smile Invest to have several studies, including a CDD, conducted by various external parties. In this way, Smile Invest was able to determine the value of the business, test underlying drivers and make a considered investment decision.

Our contribution

By means of a thorough internal and external analysis, extensive interviews and financial test, JBR validated the prepared information memorandum. In addition, a number of growth opportunities were outlined based on historical data and market knowledge.

The result

JBR delivered a well-researched CDD report looking at the various end markets, the training certificate market and the competitive landscape. The prepared business plan was also reviewed and several recommendations were made.

This CDD report allowed Smile Invest to make a measured investment decision.