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Business valuations
We offer expert valuation advice in transactions, regulatory and administrative matters, and matters subject to dispute – valuing businesses, shares and intangible assets in a wide range of industries.
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Capital markets
You need corporate finance specialists experienced in international capital markets on your side if you’re buying or selling financial securities.
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Complex and international services
Our experience of multi-jurisdictional insolvencies coupled with our international reputation allows us to deliver the best possible outcome for all stakeholders.
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Corporate insolvency
Our corporate investigation and recovery teams can help you manage insolvency situations and facilitate the best outcome.
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Debt advisory
An optimal funding structure for your organisation presents unprecedented opportunities, but achieving this can be difficult without a trusted advisor.
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Expert witness
Our expert witnesses analyse, interpret, summarise and present complex financial and business-related issues which are understandable and properly supported.
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Financial models
A sound financial model will help you understand the impact of your decisions before you make them. Talk to us about our user-friendly models.
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Forensic and investigation services
We provide investigative accounting and litigation support services for commercial, matrimonial, criminal, business valuation and insurance disputes.
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Independent business review
Is your business viable? Will it remain viable in the future? A thorough independent business review can help your organisation answer these fundamental questions.
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IT forensics
Effective ESI analysis is integral to the success of your business. Our IT forensics experts have the technical expertise to identify, preserve and interrogate electronic data.
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Mergers and acquisitions
Grant Thornton provides strategic and execution support for mergers, acquisitions, sales and fundraising.
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Raising finance
Raising finance - funders value partners who can deliver a robust financial model, a sound business strategy and rigorous planning. We can guide you through the challenges that these transactions can pose and help you build a foundation for long term success once the deal is done.
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Relationship property services
Grant Thornton offers high quality independent advice on the many financial issues associated with relationship property from considering an individual financial issue to all aspects of a complex settlement.
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Restructuring and turnaround
Grant Thornton’s restructuring and turnaround service capabilities include cash flow, liquidity management and forecasting; crisis and interim management; financial advisory services to companies and parties in transition and distress
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Transaction advisory
Our depth of market knowledge will steer you through the transaction process. Grant Thornton’s dynamic teams offer range of financial, commercial and operational expertise.
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Virtual asset advisory
Helping you navigate the world of virtual currencies and decentralised financial systems.
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Corporate tax
Grant Thornton can identify tax issues, risks and opportunities in your organisation and implement strategies to improve your bottom line.
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Employment tax
Grant Thornton’s advisers can help you with PAYE (payroll tax), Kiwisaver, fringe benefits tax (FBT), student loans, global mobility services, international tax
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Global mobility services
Our team can help expatriates and their employers deal with tax and employment matters both in New Zealand and overseas. With the correct planning advice, employee allowances and benefits may be structured to avoid double taxation and achieve tax savings.
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GST
GST has the potential to become a minefield and can be expensive when it goes wrong. Our technical knowledge can help you minimise the negative impact of GST
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International tax
International tax rules are undergoing their biggest change in a generation. Tax authorities around the world are increasingly vigilant, especially when it comes to global operations.
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Research and Development
R&D tax incentives are often underused and misunderstood – is your business maximising opportunities for making claims?
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Tax compliance
Our advisers help clients manage the critical issue of compliance across accountancy regulations, corporation law and tax. We also offer business and wealth advisory services, which means we can provide a seamless and tax-effective offering to our clients.
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Tax governance
Mitigate tax risks and implement best practice governance that will stand up to IRD scrutiny and audits.
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Transfer pricing
Tax authorities are demanding transparency in international arrangements. We businesses comply with regulations and use transfer pricing as a strategic planning tool.
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Audit methodology
Our five step audit methodology offers a high quality service wherever you are in the world and includes planning, risk assessment, testing internal controls, substantive testing, and concluding and reporting
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Audit technology
We apply our audit methodology with an integrated set of software tools known as the Voyager suite. Our technology has been developed to produce quality audits that are effective and efficient.
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Financial reporting advisory
Our financial reporting advisers have the expertise to help you deal with the constantly evolving regulatory environment.
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Business architecture
Our business architects help businesses with disruptive conditions, business expansion and competitive challenges; the deployment of your strategy is critical to success.
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Cloud services
Leverage the cloud to keep your data safe, operate more efficiently, reduce costs and create a better experience for your employees and clients.
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Internal audit
Our internal audits deliver independent assurance over key controls within your riskiest processes, proving what works and what doesn’t and recommending improvements.
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IT advisory
Our hands on product experience, extensive functional knowledge and industry insights help clients solve complex IT and technology issues
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IT privacy and security
IT privacy and security should support your business strategy. Our pragmatic approach focuses on reducing cyber security risks specific to your organisation
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Payroll assurance
Our specialist payroll assurance team can conduct a review of your payroll system configuration and processes, and then help you and your team to implement any necessary recalculations.
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PCI DSS
Our information security specialists are approved Qualified Security Assessors (QSAs) that have been qualified by the PCI Security Standards Council to independently assess merchants and service providers.
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Process improvement
As your organisation grows in size and complexity, processes that were once enabling often become cumbersome and inefficient. To maintain growth, your business must remain flexible, agile and profitable
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Procurement/supply chain
Procurement and supply chain inputs will often dominate your balance sheet and constantly evolve for organisations to remain competitive and meet changing customer requirements
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Project assurance
Major programmes and projects expose you to significant financial and reputational risk throughout their life cycle. Don’t let these risks become a reality.
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Risk management
We understand that growing companies need to establish robust internal controls, and use information technology to effectively mitigate risk.
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Robotic process automation (RPA)
RPA is emerging as the most sophisticated form of automation used to help businesses become more agile and remain competitive in the face of today’s ongoing digital disruption.
Dealtracker 2019
14 Jul 2019Grant Thornton’s latest edition of Dealtracker has delivered another deep dive into transactions in the Australian market. The report analyses mergers and acquisitions, and equity markets during the 18-month period to December 2018; and while it provides some good insights into what’s happening over the ditch, there are some key takeaways for New Zealand businesses seeking growth opportunities.
The continued upward trend in overseas acquirers is one finding that’s particularly pertinent to Kiwi businesses with high growth aspirations; these purchasers comprised 31% of transactions, up from 28% in the previous Dealtracker period. Australia, like New Zealand, is regarded as a safe-haven given its relative political and economic stability; this is solidifying its international reputation and is contributing to this strong appetite for Australasian investments, particularly from the US and Canada.
Small and medium sized businesses (SMEs) are the predominant acquisition targets. This composition is reflective of the overall corporate landscape in Australia and New Zealand, with the majority of businesses being SMEs.
In the past, transaction size was a significant barrier to attracting foreign buyers; from our experience overseas, interest in the SME sector is strong. SMEs with a proven core business and high growth potential are hugely appealing acquisition targets that can achieve premium valuation multiples.
In the future, the level of deal activity in the mid-market sector is expected to accelerate. Owners of private Australian SMEs are becoming increasingly mindful of the need for succession planning as the baby boomer generation nears retirement. New Zealand’s rapidly ageing population will impact Kiwi business owners in much the same way.
Our market will eventually be flooded with companies for sale due to the significant number of baby boomers looking to exit their businesses. A solid succession plan can make businesses more appealing to overseas acquirers, and more importantly, stand out from the large volume of businesses for sale as their owners start to reach retirement age. Business owners need to be agile enough to contemplate a sale or a smooth exit on the best possible terms any time an opportunity arises.
It’s also expected that mid-size businesses that sell products and services transferable to buyers’ home markets will be particularly attractive prospects for overseas acquirers. Naturally the technology industry has wide appeal, however Dealtracker notes that in Australia, transactions in this sector both by domestic or inbound bidders typically have a smaller deal size as the companies acquired are most often in the initial growth phase of the business cycle.
Other key insights
Increased deal volume
Deal volume is on a positive trajectory compared with previous Dealtracker periods. This has been driven by strong M&A activity during 2017 and a surge in IT sector acquisitions by bidders who either want to expand their technological capabilities or have identified growth opportunities.
IPO activity
Australia’s IPO market has continued to stabilize after the high levels of activity seen in 2015; the latest Dealtracker reports an overall decline of 4% in the total value of IPO proceeds compared with the previous period. Slower activity particularly occurred in the higher end of the market because of increased market volatility, however, the second half of 2018 finished with a strong rebound in capital assets.
Deal multiples
The median multiples of EBITDA across the market as analysed during this Dealtracker period were strong for transactions in the $20+ million revenue range fueled by the weight of funding available for high quality businesses. Standout sectors included niche consumer discretionary providers and consumer staple providers driven by food security and branded food opportunities.
