RSM Ireland

M&As and Due Diligence - the Sunday Business Post Corporate Transactions report

RSM's expertise and experience help it get 'under the bonnet' of clients' businesses for M&As, due diligence projects and more.

Transaction Advisory Services (TAS) Partner, George Maloney, spoke to journalist Joe O'Shea from the Sunday Business Post to discuss the reorganisation of our TAS team and the work they do, as well as gearing for growth with an ambitious recruitment drive. 

"We have a steadily growing workload in what is an increasingly diverse and global market. We've created a dedicated TAS unit that has a very broad range of skills. And we believe that really increases our ability to attract and retain talent, as they can work across a really broad spectrum of services internationally."

 

Read the full article below. 

 

RSM Ireland are one of the top 10 accountancy firms in Ireland and part of the global RSM network.

Head-quartered in Dublin and with over 130 staff and regional offices in Offaly and Laois, RSM have expert teams across the full range of audit and advisory, management consulting and transaction advisory services.

The emphasis is very much on responding to what can be often be rapid change in market and client requirements, to being agile and client-led. In keeping with this philosophy, RSM recently reorganised their Transactions Advisory Services (TAS) into one team with the full range of necessary skills, incorporating disciplines from Corporate Restructuring, Corporate Finance, Advisory and Investigations.

This single-purpose team can now put the broadest possible range of expertise and experience to work for their clients, says TAS partner George Maloney, as he reviews what has been a very busy 2018 for RSM.

“The areas that we have been most active in include construction projects, in terms of both advising clients and also direct involvement in project design and implementation,” says George Maloney.

“Due diligence has been particularly busy for us and we have seen an increased number of buy and sell mandates.Much of what we are seeing in both these areas is being driven by private equity investments from both Irish and International firms.”

George says one of the challenges for firms like RSM – and the one his team have worked hard to meet – is to stay on top of current trends and changes in the ways deals are being financed and structured while anticipating future changes and opportunities.

“In terms of 2019, there is still a residual element of debt overhang. And with a lot of businesses, there has been a postponement of addressing this for a variety of reasons.

“In some cases the debt overhang has in fact been sold, with third party funds having come in, but the residual businesses still need their balance sheets to be restructured.”

“And it is in this context that we think the climate is becoming more positive. We have seen alternative forms of financing coming through, of which there are quite a few, including private family, private equity and bespoke finance houses, all alternatives to banks and all providing funding.”

“It may be at an incremental cost, but they are bringing with them important ingredients, including faster response times and flexibility”.

“We are meeting these bespoke entities, these finance houses on a regular basis and it’s obvious to us that they are getting real traction in the Irish market, which means they are responding to a very real need”.

After a very busy 2018 for the dedicated TAS team and across the wider firm, RSM have embarked on an ambitious recruitment drive.

“We are gearing for growth and are actively looking for new talent from graduate level up to and including new partners,” says George Maloney.

“We are part of the international RSM network and now that we are a few years into that connection and have established very strong relationships with the US and UK in particular. We are finding a lot of leads and deal-flow coming from our colleagues internationally.

“We have a steadily increasing workload in what is an increasingly diverse and global market. We’ve created a dedicated TAS unit that has a very broad range of skills. And we believe that really increases our ability to attract and retain talent, as they can work across a really broad spectrum of services internationally”.

As the economy improves, the firm’s TAS partner believes there will be a greater demand for consultancy services across the whole range of what firms like RSM do.

“This is consulting in the broadest sense, to include transactionary consulting as well, as transaction flow continues to improve,” he says.

With factors including Brexit continuing to threaten uncertainty, the team at RSM are determined to go beyond what have been the traditional parameters when it comes to assessing and advising on M&As and related transactions.

“External perspective is important to our clients now more than ever and we really believe in getting under the bonnet of our clients’ businesses,” says George Maloney.

“We see “The Power of being Understood” as a key ingredient to delivery of value-added services for our clients and the projects we are involved in”.

M&As and Due Diligence - the Sunday Business Post Corporate Transactions report

As published in The Sunday Business Post- 25th November 2018

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