User Corporation

Capabilities / M&A

Mergers & Acquisitions

Transaction-by-transaction value capture, from acquisition strategy through integration.

Value creation

Value capture from day one.

We tailor our approach to each transaction, building M&A programs around growth opportunities and the client's prior experience. Our integrated, market-tested approach links acquisition strategy, diligence and merger integration.

Our experience lets us distinguish transactions that create value and growth from those that do not.

Collaboration

One team, strategy to implementation.

We work with clients as a single team, from strategy development and partner selection through operational implementation. The emphasis is on credible alliances, transactions structured correctly from the outset, a shared vision and a clear understanding of mutual economics.

Typical scope

Buy-side and sell-side, end to end.

01

Origination

Target identification and initial outreach within a defined industry.

02

Diligence and valuation

Commercial due diligence, financial modeling, trading and transaction multiples.

03

Negotiation and documentation

Price and terms advice, adviser coordination, LOIs, SPAs and shareholder agreements.

04

Implementation

Strategy and mechanics for executing the sale and purchase.

See the full scope of work →

Both sides of the table

For sellers and for buyers.

We act for one side on any transaction. Advising both sellers and buyers across the market means we understand how the other side thinks.

Sell-side

Selling a business or a stake

  • Preparing the business and its story before buyers see it
  • Valuation and realistic price expectations
  • Identifying and approaching strategic and financial buyers
  • Running a competitive, confidential process
  • Negotiating price, structure and terms through to completion

Buy-side

Acquiring a business

  • Defining acquisition criteria and screening targets
  • Discreet first approaches to owners
  • Valuation, due diligence and deal structuring
  • Offer strategy and negotiation
  • Coordinating financing, advisers and approvals to closing

Our process

How we run a transaction.

Scope

Define objectives

We agree the strategic rationale, valuation expectations, perimeter and timetable before work begins.

Prepare

Materials and targets

We prepare information materials and build a screened, confidential list of counterparties.

Execute

Process management

We manage outreach, negotiations, due diligence and the drafting of transaction documents.

Close

Signing and completion

We coordinate advisers and conditions through to signing, completion and integration support.

Transaction types

The transactions we advise on.

01

Company sales

The sale of a whole business, by founders, families or corporate owners.

02

Acquisitions

Buying a company or business, in Turkey or abroad.

03

Minority and majority stakes

Selling or acquiring a partial interest, with the right governance protections.

04

Mergers

Combining two businesses, including valuation of each and the terms of the combined group.

05

Divestments and carve-outs

Selling a division or subsidiary, and separating it cleanly from the parent.

06

Joint ventures

Creating a shared business with a partner, from structure to exit terms.

Cross-border M&A

Into Turkey, and out of it.

Many of our mandates cross a border. With our base in Istanbul and strategic partners in Munich, Milan, Vienna, Athens, Lisbon, Tel Aviv and New York, we work on both sides of the corridor.

Outbound

Turkish groups acquiring abroad

Finding and acquiring businesses, brands, technology or capacity in Europe, the United States and the wider region, with local partners on the ground.

Inbound

International investors entering Turkey

Helping strategic buyers and funds acquire, partner with or invest in Turkish companies, and navigate local practice, regulation and relationships.

Questions

M&A questions, answered.

How long does a sale process take?

It depends on the business and the market, but a well-prepared sale typically takes several months from preparation to signing, with completion following once approvals and conditions are met.

What should a seller prepare?

Reliable financial statements, a credible business plan, and clarity on what is being sold and why. We help assemble the materials and anticipate the questions buyers will ask.

How do you keep a sale confidential?

Buyers are approached selectively, sign a non-disclosure agreement before receiving information, and see sensitive details only at later stages. Many processes run under a project name.

How do you find buyers or targets?

Through our own relationships, sector research and our partner network, screened against the client's criteria and approached only with the client's approval.

Do you also arrange acquisition finance?

Yes. Our debt finance practice can arrange the financing for an acquisition alongside the M&A work.

Related services

Often used together.

Next step

Discuss a mandate in confidence.

Tell us about your transaction, financing or strategic objective. We will come back to you to arrange a confidential conversation.

  • Every enquiry is read by a senior partner
  • Strict confidentiality, with an NDA before details are shared
  • No cost or obligation for an initial discussion