Understand the business,
support the business!


Companies face a broad range of situations, where comprehensive knowledge of valuation common practice and regulatory requirements are essential. We provide expertise based on our team’s experience in transaction decision support, expert opinions based on valuation standards, valuations due to tax or reorganization occasions or financial reporting valuations.

Your contact person:

Nikolas Bellieno
Director Valuation & Financial Modeling

Our services in detail

Expert opinions

  • Expert opinions according to or based on IDW S1
  • Fairness Opinions based on IDW S8
  • Valuation reports in the context of structural measures such as squeeze-outs, controlling agreements
  • Valuation certificates in the context of in-kind contributions, new formation, form-changing or mergers

Valuation advisory

  • Multiple and/or DCF valuation decision support on buy-side (or sell-side) transactions
  • Valuation advice in the context of shareholder exits or succession plans
  • Advice on valuation implications and regulations in restructurings
  • Analysis of key KPIs in buy-side situations as well as preparation of KPI analysis in sell-side/IPO context

Financial reporting support

  • Support on purchase price allocations (PPA) according to IFRS or HGB
  • Impairment test support according to IAS 36
  • Impairment test support for HGB purposes (IDW RS HFA 10)
  • Support on the valuation of intangible assets
  • Provision of cost of capital data (WACC)


There are numerous complex circumstances, which require precise financial modeling in order to capture the financial consequences of strategic alternatives, scenario variations or the impact of risks and uncertainties on cash flows. We can serve as a competent partner in the technical structuring and development of financial or business plan models. In addition, we serve as a third-party reviewer for existing models.

Your contact person:

Nikolas Bellieno
Director Valuation & Financial Modeling

Our services in detail

Decision support

  • Transaction modeling of strategic alternatives or investment decisions
  • Modeling of cash flows of infrastructure projects
  • Development of integrated business models (Income Statement, Balance Sheet, Cash Flow) or support thereof
  • Support with company valuation modules

Model review

  • Technical model review
  • Review of key assumptions and the underlying accounting