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Corporate Finance and Deal Advisory
We offer a dedicated team of experienced individuals with a focus on successfully executing transactions for corporates and financial institutions. We offer an integrated approach, with our corporate finance specialists working seamlessly with tax and other specialists to ensure that every angle is covered.
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Digital Risk
Grant Thornton offers solutions to the digital risk issues you are sure to face. Our skilled and experienced security team can helping by advising and consulting, giving you peace of mind, clear value for money and an enhanced ability to react to attacks.
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Technology Consulting
Motivating and assisting our clients to pursue, maintain and secure the benefits of digital solutions is at the core of our Digital Transformation teams' agenda and goals. We work with business leaders to deliver efficient digital strategies and operating models that provide new or enhanced capabilities.
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Economic Advisory
Our all-island Economics Advisory team combines expertise in economics and business with a wealth of experience across the public and private sectors.
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Forensic Accounting
We have a different way of doing business by delivering real insight through a combination of technical rigour, commercial experience and intuitive judgment. We take pride in delivering responsive and tailored solutions to all our clients, capitalising on the wealth of experience housed within our Belfast and wider Forensics team
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People and Change Consulting
The Grant Thornton People & Change Consulting practice works with clients on these issues as well as on all aspects of how they attract, retain, engage develop, deploy and lead their people.
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Restructuring
We work with a wide variety of clients and stakeholders such as high street banks, private equity funds, directors, government agencies and creditors to implement solutions which provide the best possible outcomes.
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Corporate and International Tax
Northern Ireland businesses face further challenges as they operate in the only part of the UK that has a land border with a country offering a lower tax rate.
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Employer Solutions
Our team specialises in remuneration and incentive planning and works closely with employers, shareholders and employees to ensure that business strategies are aligned and goals achieved in the most tax efficient, cost-effective manner.
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Entrepreneur and Private Client Taxes
Our team of experienced advisors are on hand to guide you through any decision or transaction ranging from the establishment of new business ventures, to realising value on exit, to succession planning and providing for loved ones.
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Global Mobility Services
Grant Thornton offer a different approach to managing global mobility. We have brought together specialists from our tax, global payroll, people and change and financial accounting teams across Ireland and Northern Ireland, while drawing on the knowledge and insights of our global network of over 143 offices of mobility professionals to provide you with a holistic approach to managing global mobility.
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Outsourced Payroll
Our outsourced service provides valued service to over 150 separate PAYE schemes. These ranging from 1 to 1000 employees, working for micro, SME and global employers. The service is supported by the integrated network of tax and global mobility teams and the wider Grant Thornton network delivering a seamless service. Experienced staff deliver a personal service built around your business needs.
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Tax Disputes and Investigations
Our Tax Disputes and Investigation team is made up of tax experts and former HMRC investigators who have years of experience in dealing with a variety of tax investigations. Our expertise and insight can guide you through all interactions, keeping your cost at a minimum while allowing you to continue with the day to day running of your business.
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VAT and Indirect Taxes
At Grant Thornton (NI) LLP, our team helps Northern Ireland businesses manage their UK and global indirect tax risks which, as transactional taxes, can quickly become big liabilities.
If you are considering an investment, one of the first things to do is to conduct due diligence. There is a misconception that due diligence is a process that involves reviewing, verifying and stress testing financial information. This is a mistake – due diligence can and should go further.
Due diligence can be approached in a number of ways and by looking at numerous different areas, but there are some key aspects an investor should consider when agreeing the scope of their due diligence.
The investor needs to evaluate what they are actually buying. Key considerations are as follows:
Customers
The investor should look at the market the business currently operates in and the customers it currently has. Given that key customers can provide a great insight into the potential capabilities of a business, customer references should be validated. Where practical, and if confidentiality provisions allow, it is beneficial to ascertain their views of the business and how they, as customers, are managed.
Competitors
In addition, a competitor analysis should be performed, company market share, profitability and revenues by product and geographical region. If applicable, the views of industry specialists should be sought and reviewed to assist in identifying the unique selling points and competitive advantage of the products or services of the business.
Profitability
The costs of the business will have to be assessed during the due diligence process to fully understand the key variables and drivers in the business profitability. It will be necessary to identify non-recurring revenues and costs in order to assess the companies underlying probability, post-transaction. Sensitivity analysis should be undertaken to understand the implications of, for example, significant reductions in sales volumes or achievable prices. Technical due diligence may be necessary to consider the full process required to deliver the product or service, including (if applicable) a full analysis of any patents or intellectual property rights.
Capabilities
The capabilities of the people and the technology in the business should be assessed and considered. Where permitted, key staff should be met and interviewed to evaluate their ability, their loyalty and their views of the business.
Asset base and liabilities
Consideration will need to be given to the constituent elements of the balance sheet summary that assets are not over-valued and that there are no hidden or contingent liabilities. In particular, a thorough review of the company tax affairs is crucial to ensure that they are in order. It may also be necessary to, for example, obtain up to date property valuations.
Cash
The cash position of the business will need to be reviewed thoroughly and cash flows sensitised to ensure there is adequate cash in the business to fund the ongoing operations and any potential contingent requirements.
In conclusion, due diligence is ultimately about considering key assumptions and being professionally sceptical when challenging these. An oversight or a key assumption not considered appropriately may lead to a poor investment decision with significant financial loss.
At Grant Thornton we have undertaken a large number of due diligence exercises supporting different transactions in the last 12 months. In each occasion the team identified issues that needed to be addressed either as part of the deal negotiations or the price consideration. For some, the issues resulted in the potential acquirer quite rightly reassessing their decision. Due diligence should as a minimum add value to the understanding of the business and not simply be a re-run of the information memorandum. Due diligence should pay for itself. A nasty surprise post transaction can turn what looked like a very good deal in to a very poor one.