Blog - Maraz Corporate Finance
In a constantly evolving financial environment, from the Maraz Corporate Finance Blog, we share analysis, trends and key insights on corporate finance, financing, corporate restructuring, valuation, company acquisitions and sales, and business strategy.
Debt-to-Equity Swaps in Corporate Restructuring: How to Avoid Losing Your Company
Debt-to-equity swaps: the tool that rescues an over-indebted company and which, since 2022, creditors can impose without the shareholders’ vote. What it is, when to convert, how it is taxed and what the owning family must do to avoid being left outside.
Change of Control Clauses: the silent impact in M&A
Change of control clauses: the risk that sits neither in the bylaws nor on the balance sheet, but in contracts with banks, customers, landlords and licensors. Where they hide, how buyers price them in and what to do before selling so they cost neither price nor time.
Early Warning Financial Indicators for Companies | Maraz
Early warning financial indicators: why your company sends signals long before it fails Companies do not fail overnight. Cash is…
Customer, product and range mix
Customer, product and range mix Two euros of sales do not create the same value In most mid-sized industrial and…
Why companies fail
Why companies fail Companies do not fail because they run out of cash: they run out of cash because their…
Family Protocol for the family business: What It Is, what to Include and mistakes to avoid
Family Protocol: A family protocol only protects the business if its key agreements (transfer of shares, valuation, liquidity, governance and…
Real Estate Development Financial Model: from land to developer loan and delivery
Real estate development financial model Why does real estate development need a different financial model? A developer does not sell…
How to Buy a Company in Spain: a Step-by-Step M&A Guide
How to Buy a Company: For many business owners and family groups, buying a company is the fastest route to…
Goodwill: what it is, how it is valued, when it is impaired and how it is taxed in Spain
Why goodwill matters When one company buys another, it almost never pays exactly what the balance sheet says: it pays…
Red Flags in Financial Due Diligence: 15 Warning Signs That Reprice or Break a Deal
Red Flags in Financial Due Diligence: In every company sale there comes a moment when the numbers stop telling their…
Monte Carlo Simulation in DCF: What It Adds to Business Valuation
Monte Carlo Simulation: Imagine being asked what your company is worth and answering with a single, exact figure: “€12,437,000.” It…
From the FDD report to the SPA: Earn-outs, reps & warranties and indemnities
From the FDD report to the SPA: There is a moment in every company sale when the analytical work turns…
Quality of Earnings: How to analyse EBITDA quality in Due Diligence
Quality of Earnings: When a buyer says they are paying "seven times EBITDA", what they are really buying is not…
Turnaround Management: Steps to turn a company around
Turnaround Management: Few decisions test a management team as much as admitting that the company has stopped working the way…
Lost Profits vs Consequential Damage: Quantifying an Economic Loss
Lost Profits vs Consequential Damage: Quantifying an economic loss A distributor whose contract is terminated overnight. A partner arbitrarily squeezed…
Competitive Advantages and Economic Moats
Competitive Advantages and Economic Moats Almost every business owner I meet knows whether their company makes money. Far fewer know…
Can Financial Debt increase your company's value? Optimal Capital Structure
Financial Debt and its impact on valuation: The “Zero-Debt” Myth In many family-owned businesses in the middle market, there is…
Importance of an Expert Advisor (M&A) to sell your company well
Why an expert advisor (M&A) matters when selling a company Selling a company is, for the vast majority of business…
Cross-Border Transactions - expanding without borders
Cross-Border Transactions: Acquiring a company in another country is the fastest way to gain, in one move, the market share,…
Financial Mentoring by a Fractional CFO for your financial team
Financial mentoring: In the Spanish industrial mid-market and in large family groups — those companies with turnover ranging between €20…
Refinancing Companies in Distress: a Middle-Market Guide
Refinancing Companies in Distress: When a company runs into trouble, the clock starts working against it. The 2022 reform of…
The Role of Expert Forensic Opinion in Shareholder Disputes
When a conflict between partners breaks out, the first instinct is usually legal: the bylaws, the shareholders’ agreement and the…
Benchmarking: How to analyse the competition to improve your strategy
Benchmarking: How to Analyse the Competition to Improve Your Strategy Almost every business owner I know can tell whether their…
Revenue Recognition: Spanish GAAP vs. IFRS 15
Revenue Recognition: a matter of contractual architecture Revenue recognition has ceased to be a matter of general accounting policy and…
