A Milan-based company providing integrated security and surveillance services for businesses and private citizens required an independent business review (IBR). The company had been market leader in Italy and had revenues in the hundreds of millions of euros divided amongst armed and unarmed guarding services, patrolling services, cash-in-transit services and others. However, changes to Italy’s legal framework, increased competition and the negative economic environment following the financial crash led to a decrease in operating margin for the company, which subsequently encountered a difficult financial situation. In this context, Accuracy performed the IBR and assisted in the implementation of a recovery plan. Shortly afterwards, Accuracy performed sell-side due diligence on the company and provided support in the selling process.
Accuracy succeeded in expanding our initial scope of work, an IBR, to sell-side due diligence and M&A process support. Our close cooperation with the other advisers, including tax and legal firms, as well as brainstorming with our client during the entire M&A process, was highly appreciated.
