We particularly appreciated Eight Advisory's ability to respect the confidentiality of the project given its high profile, being an operation on a listed target which is a household name in France. Finally, I noticed that Eight Advisory benefited from an established reputation among all of the operation's players within a highly international context.Dominique Gaillard / Managing Director and Member of the Executive Board, Ardian
Quality, thoroughness and speed. We regularly call upon the services of Eight Advisory and are always satisfied with the end result. It's a successful fusion of the dynamism of a young company and the long-standing experience of each of the partners in their respective fields of expertise.Antoine Troesch / Head of Mergers and Acquisitions, Areva
As part of the financial restructuring process which we set in motion in late 2012, Eight Advisory successfully implemented effective analytical tools within tight deadlines to provide the players involved with information in a calm and reliable manner. They were also able to challenge our business plan which allowed us to take this important restructuring process through to a successful conclusion.Patrick Pépin / President - CEO, Jean-Baptiste Bouvier / CFO and Purchasing Director, Soflog-Telis
We called on Eight Advisory teams to define the recovery plan for our coach transport activities. We were won over by the pertinence of the analyses and sometimes the impertinence of their message, prompting us to consider all possible actions.Michel Salaün / President, Salaün Group
Eight Advisory teams were by my side for almost two months working on a complex, high-intensity operation. Their dedication and professionalism were outstanding from start to finish. I would also add that working with them was genuinely a rewarding experience.Michael Peters / CEO, Euronews
In an acquisition context, Eight Advisory teams gave us invaluable support marked by their specific experience, tremendous responsiveness, availability and controlled processes which proved essential to the conclusion of the project.Philippe Barbier / President of the Executive Board, Pomona Group
As part of our investment in RLD and given the innovative structure of a new money loan accompanied by an active involvement in governance, we wanted to use a team of auditors who shared our strong entrepreneurial culture: men and women who would be quick about their task, capable of going to the very limits and who were uncompromising in their analytical work:Jean Louis Detry / President, Vermeer Capital
we opted for Eight Advisory and the operation was performed under optimal conditions.
After the consolidation of a cooperative group with sales of €4.2 m, we wanted effective cash management to become part of our DNA. The WCR assignment mobilized the group around considerable challenges.Alain Le Floch Directeur / Managing Director, Vivescia Group
After 2009, the Group experienced a surge in business and we organized our Treasury Department. The Eight Advisory team's experts specialized in cash management gave us effective support on this project. Their cross-cutting and operational vision of all cash-related matters allowed us to professionalize the Treasury function within a short timeframe.Eric Rochereau / Administrative and Financial Director, Mecachrome
Through detailed analyses, the Eight Advisory Real Estate Services team assisted us with the accounting for a major restructuring of a real estate company. They enabled us to respond to the technical issues while meeting tight deadlines and respecting the Group’s specific circumstances. We especially appreciated their ability to work with the in-house teams, our lawyers and the bank board.
Executive Director of Assets, Development and New Activities
NICOLAS MILLION – JOSSERAND BILLAUD
We called on Eight Advisory to perform due diligence on Krauss Maffei Wegmann, a German group that Nexter had approached to create a European champion in land defense. It was vital for us to work in absolute confidence with our board. This was the case with Eight Advisory teams, thanks to their high level of professionalism, their strong commitment up through the senior levels and their indomitable spirit that never faltered on key issues. Moreover, their insightful reports contributed to all stakeholders gaining a complete understanding of the major financial issues (Nexter/GIAT Industries and its boards, the French State and its boards).
We quickly identified that the site associated with the figures was going to be a very complex situation in the Tokheim carve out. The finance teams assisting us had to have a thorough understanding of transactions. After having met with the teams of the Big Four and Eight Advisory, it became clear to us that the teams at Eight Advisory would truly be best suited to achieve this considerable feat. The Evaluation and Operational Improvement teams at Eight Advisory took up the torch with the same efficiency. The work, professionalism and vast expertise of the teams enabled us to perform this extremely complex transaction within a mere six months and to provide the strength expected by the international buyers of these operations, thus enabling us to secure valuation. My heartiest congratulations to the Eight team.
MOTION EQUITY PARTNERS
As part of the buyout by GE, Alstom Renewable Power wanted to identify and direct all the sites to be integrated into the GE standards. This ambitious approach required project management combined with a technical mastery of complex financial and accounting topics. We turned to Eight Advisory, whose pragmatic and seasoned culture which combines expertise in both finance and project management enabled us to successfully close all the projects and pass the reins over to the GE teams in the best conditions.
Head of project control
Quality, thoroughness and speed. We regularly call upon the services of Eight Advisory and are always satisfied with the end result. It’s a successful fusion of the dynamism of a young company and the long-standing experience of each of the partners in their respective fields of expertise.
Head of Mergers and Acquisitions
Eight Advisory teams were by my side for almost two months working on a complex, high-intensity operation. Their dedication and professionalism were outstanding from start to finish. I would also add that working with them was genuinely a rewarding experience.
We have had the pleasure of working with Eight Advisory on several acquisition projects in Europe. We particularly appreciate the professionalism, technical competence and flexibility of their Transaction Services and Valuation personnel working in support of our M&A projects. In addition to technical expertise, their personnel have always demonstrated unwavering flexibility in perfect harmony with our own personnel throughout the process of due diligence, which is, by its nature, highly volatile and always subject to very tight deadlines. With excellent international connections, their network of European partners is also a significant plus.
CEO BU North, South & Eastern Europe
With a very tight schedule, the high quality of the work performed by the Eight Advisory team during the VDD was an important factor in the efficiency and success of the structuring of our 4th LBO. We especially appreciated their responsiveness and ability to mobilize the necessary resources during the critical phase of our discussions with potential buyers.
Eight Advisory provided support to the ATLAND Group during its acquisition of a Paris property developer, including the financing of the acquisition. In addition to the usual work on due diligence, the assignment mainly focused on modelling our cash flow forecasting to arrange our corporate debt. We greatly appreciated the responsiveness and professionalism of the Eight Advisory team, but above all their excellent knowledge of the real estate, which is so critical for such assignments.
Chairman and Co-founder
FRÉDERIC PLAS, BADRI BEN & NICOLAS MARTINEAU
Above all Eight Advisory has developed genuine expertise in how to challenge established business models and knows how to extract the key points, yet without ever losing sight of the need to generate cash! In the end, complexity becomes simplicity enabling us to be fully efficient in expressing the investment offers we are working on!
Frédéric Plas, Executive Director,
Badri Ben, Director
Nicolas Martineau, Investment Director
Eight Advisory performed a very professional and comprehensive independent review of the sale of Nova Brasil to Via Varejo. The technical quality and completeness of the reports, presentations and final opinion on the fairness of the valuation components and subsequent tender offer were essential to support Cnova’s transaction committee deliberations and decision to approve the deal.
Independent Board Member
I sincerely believe that the quality of the Eight Advisory teams is a crucial factor in the success of the assignments completed for our company. Their excellent ability to listen, general availability and exceptional professionalism overall, and the demonstration of humility, altruism have all contributed to this success. Thanks again…
We turned to Eight Advisory during the takeover of the Pitch Promotion group by Altarea Cogedim. The Eight Advisory Real Estate Services team assisted us with preparing pro forma financial statements in a way that was comparable to the financial statements of Cogedim. It was therefore necessary to understand calculation methods and to ensure consistent processing of the data, all within very short deadlines. Above all, we appreciated their perfect knowledge of the real estate industry and their professionalism.
Chief Operating Officer
GRÉGORY LE FOULER
The Eight Advisory Valuation Services team carried out a Purchase Price Allocation assignment in which they exemplified their pragmatism and professionalism, which was especially appreciated by the M6 Group’s operational and financial teams who got to experience firsthand the Eight Advisory consultants’ capacity to quickly assimilate the specific –and rather technical– characteristics of the sector, perform the valuation, and render the work in a clear and insightful way. In short, it was a success in all respects…
GRÉGORY LE FOULER
Deputy CFO Group
We particularly appreciated Eight Advisory’s ability to respect the confidentiality of the project given its high profile, being an operation on a listed target which is a household name in France. Finally, I noticed that Eight Advisory benefited from an established reputation among all of the operation’s players within a highly international context.
Managing Director and Member of the Executive Board
We entrusted Eight Advisory with more assignments this year, since we appreciate their professionalism, thoroughness and speed of implementation. The men and women of Eight Advisory have strong interpersonal skills which facilitates working with internal teams during assignments. Eight Advisory is now a genuine partner of our group.
CEO Labeyrie Alfesca Group
LABEYRIE FINE FOODS
Despite it being a challenging time to set up financing, our secondary LBO was successful thanks to the quality of work by the Eight Advisory team which demonstrated total availability and easily fitted into our management team. The Vendor Due Diligence by Eight Advisory also became a bible for the Group’s financial management.
President of the Supervisory Board
When I took up my post in August 2015, I decided that we required an analysis of the group’s performance in its core sectors to highlight those areas requiring improvement, both in the short and long term. It was a natural step for me to engage Eight Advisory for this assignment, as I had already collaborated with the firm at my previous company. The responsiveness of both staff and partners, their ability to get straight to the heart of the matter and to conduct both financial and operational analysis helped me to manage the year’s revenues better and to construct my first strategic plan.
Chairman of the Board
The technical expertise of the Eight Advisory Valuation team and their ability to understand our business model are of particular value to us.
Finance & Administration Director
As part of the integration of Kolak Snack Foods, a defining acquisition which doubled the size of our group, we overhauled its monthly reporting package, the first step in achieving a unified group reporting system. We called in Eight Advisory, who mobilized a team from its Paris and London offices to work with our local finance personnel in coordination with the Group Finance Department. Against tight deadlines, Eight Advisory helped us to implement an operationally focused and well‑structured reporting package that incorporated the KPI’s relevant to the business and enabled us to effectively manage integration. In addition to their technical expertise, we above all appreciated their collaborative working approach with our own personnel, which was so critical to the success of the project.
Europe Snacks Group
Once again, Eight Advisory has demonstrated its ability to quickly identify the key analysis required to deconstruct the business model from a financial point of view. The technical competence of the team, combined with their empathetic qualities, facilitated highly effective discussions with the management team, covering both financial and operational matters. The results of the work carried out enabled us not only to validate our investment rationale but also to identify future areas for improvement. For these reasons, the trust we place in Eight Advisory makes it our partner of choice.
I especially appreciated the professionalism, the listening skills and the spirit of initiative demonstrated by the Project Financing team during a complex infrastructure project where Eight Advisory took part as financial consultants for our group.
Director of Public-Private Partnerships
Vinci Construction France
In 2016 our Group went through its third LBO. We decided to call in Eight Advisory to assist us with the sale. With our experience of other players in the market, we can say that what sets them apart is their ability, and above all their determination, to understand our business model. It is an important distinction and greatly appreciated in this type of transaction. In a sale where management is very involved it is very gratifying to be able to communicate using models that closely replicate the company’s operating model. Yes, we really like working with them!
MkDirect Françoise Saget Linvosges Group
GUILLAUME DE FEYDEAU
Credibility and relevance of their recommendations. Responsive assistance in an atmosphere of trust.
GUILLAUME DE FEYDEAU
In an acquisition context, Eight Advisory teams gave us invaluable support marked by their specific experience, tremendous responsiveness, availability and controlled processes which proved essential to the conclusion of the project.
President of the Executive Board
PATRICK PÉPIN – JEAN-BAPTISTE BOUVIER
As part of the financial restructuring process which we set in motion in late 2012, Eight Advisory successfully implemented effective analytical tools within tight deadlines to provide the players involved with information in a calm and reliable manner. They were also able to challenge our business plan which allowed us to take this important restructuring process through to a successful conclusion.
President – CEO
CFO and Purchasing Director
JEAN LOUIS DETRY
As part of our investment in RLD and given the innovative structure of a new money loan accompanied by an active involvement in governance, we wanted to use a team of auditors who shared our strong entrepreneurial culture: men and women who would be quick about their task, capable of going to the very limits and who were uncompromising in their analytical work:
we opted for Eight Advisory and the operation was performed under optimal conditions.
JEAN LOUIS DETRY
As part of the restructuring of bank loans taken out during two LBOs, we called on Eight Advisory to more clearly demonstrate a need for debt restructuring so as to ensure the long-term future of the company. We’d like to congratulate the teams for the quality and accuracy of the deliverables and results, but also for the excellent relations established with both consultants and managers.
Confidence in people who believe in a job well done. An approach founded on understanding the company’s business and the people who manage it, their strengths, their weaknesses, their needs, their resources. Lots of humanity and technical know-how but not an ounce of complacency. The necessary technical extension to the judicial representative for the credibility and smooth conduct of their procedure, whether in an out-of-court or insolvency context.
Court appointed receiver
Excellent responsiveness, clear pricing with explanations and a comprehensive service of the highest standard.
The resolution of business difficulties requires all players to work as a team in order to bring their expertise and dynamism to bear in seeking a positive solution and implementing it. The Eight Advisory firm’s restructuring teams have grasped this fundamental rule and this greatly facilitated these assignments which remain sensitive in nature.
Court appointed receiver
SCP LAUREAU – JEANNEROT
In a situation of complex restructuring, a team combining high level, complementary skills, the value of methodical and intuitive questioning to better understand the situation and ways out of the crisis, a strong capacity for work and high responsiveness, an established reputation among third parties, but especially men and women who know how important it is to be tuned in to others, to never lose sight of the human aspect, and the importance of humor! Congratulations to the team that was key in the process to allow the Cafom Group to pick up the Habitat brand.
Eight Advisory provided us with an independent and objective approach to the numbers, with a financial overview of the business that served to link our financial data and our day-today operational realities. These qualities were vital in providing support to our Board of Directors in its strategic choices for turning around the Group’s performance.
Chairman of the Supervisory Board
Commitment to results, professionalism, flexibility, the energy to immerse ourselves in the client’s organization and availability were the invaluable assets that Eight Advisory provided to Soitec at a critical moment. We were thus able to preserve our credibility and propose realistic solutions for emerging from a crisis in which the company found itself due to an unfamiliar process with new relationships with new actors (legal representative, court, ministries, creditors, etc.). In addition to technical quality and competence, the human quality of each member of Eight Advisory’s team was a catalyst for Soitec and we created a single seamless team, able to produce and generate key elements for crisis resolution management. A company turnaround is above all a human issue and Eight Advisory succeeded in serving as an extraordinary partner to Soitec, its investors and its creditors.
Chairman & CEO
Mission to reduce the WCR
JACQUES SCHAFFNIT – ALEC WANG
Pragmatic approach, good acceptance from our operational teams worldwide, working capital optimisation program has been successfully launched in China, Germany, USA and Brazil.
In the context of strong business growth and with a view to improving our gross margins, we wanted to carry out a review of our purchasing performance. We entrusted Eight Advisory with this task, and they assisted us by analysing our purchasing performance and identifying and quantifying areas for improvement. The operational and financial skills of Eight Advisory, combined with a very pragmatic and hands-on approach, enabled us to bolster the positioning of our procurement strategy and strengthen the robustness of our Business Plan.
Eight Advisory helped us to set up the JM Bruneau group’s Treasury Department and to quickly implement good cash management practices.
WEINBERG CAPITAL PARTNERS
After 2009, the Group experienced a surge in business and we organized our Treasury Department. The Eight Advisory team’s experts specialized in cash management gave us effective support on this project. Their cross-cutting and operational vision of all cash-related matters allowed us to professionalize the Treasury function within a short timeframe.
Administrative and Financial Director
We called on Eight Advisory teams to define the recovery plan for our coach transport activities. We were won over by the pertinence of the analyses and sometimes the impertinence of their message, prompting us to consider all possible actions.
Within the context of a global project to improve and harmonize operational processes, the WCR plan we implemented has enabled us to push back the boundaries, leading to significant cashflow benefits.
Lagardère Travel Retail
Eight Advisory provided me with support to structure and manage the Treasury & Financing Department of the Verallia Group. Their operational experience of cash management by companies in an LBO context enabled me to very quickly introduce the necessary tools, processes and good practices. Their pragmatic approach and expertise were of particular importance as we constructed an optimum cash circulation model. My own personnel and those of Eight Advisory successfully introduced the basis for a cash management system able to withstand the numerous challenges that lay ahead.
Treasury & Financing Director
Eight Advisory’s initial mission was to provide a diagnostic of our treasury role for our newly-integrated organization that was doubling in size. The 8A team worked efficiently and effectively through the challenges to provide a clear report with precise observations and pertinent recommendations. The outcome was so positive that we decided to launch an 8-month treasury service for an 8-team member to kick start our newly formed treasury function, along with the implementation of a TMS and cash pooling policy.
Chief Financial Officer
Eight Advisory assisted us with setting-up Cash Management solutions. The Cash Services team assisted us with this cultural change which was necessary due to our transition into the LBO world. The team’s experience very quickly enabled us to acquire best practice, to assume our new role and to meet the needs of our new shareholder.
I had the immense pleasure of working with Eight Advisory in general and the Valuation Services team in particular during the buyout of Publicis Group of Relaxnews. In addition to the quality of the document prepared for the French Financial and Monetary Authority (AMF) attesting to the fairness of the transaction, I really appreciated the relevance of the strategic input and the respect for the deadlines which were, admittedly, very tight.
Co-Founder & CEO
A very operational WCR approach.
BOUYGUES ENERGIES & SERVICES
The systematic approach used made it possible to implement a structured procedure, to greatly empower teams and achieve tangible results, an improvement of almost 30 million euros in one half-year period thanks to long-term drivers.
Chief Financial Officer
In a cash project covering 3 factories in France, the USA and Mexico, the Eight Advisory team was able to mobilize the organization around aspects concerning clients, stock and suppliers, in a proactive and organized manner, while respecting the corporate culture with significant working capital requirement issues to deal with.
METALOR TECHNOLOGIES ELECTROTECHNICS DIVISION
ALAIN LE FLOCH
After the consolidation of a cooperative group with sales of €4.2 m, we wanted effective cash management to become part of our DNA. The WCR assignment mobilized the group around considerable challenges.
ALAIN LE FLOCH
Eight Advisory provided us with support to optimize our cash forecasting processes and systems. This dual assignment focused on harmonizing the principles of short-term forecasting by the direct method (receipts/payments) and on perfecting the medium term cash flow forecasting methodology by the indirect method (EBITDA to cash) at the group level. Eight Advisory assisted us with these two complementary projects at the same time, providing support in terms of change management and the implementation of new processes and methods.
Group Director, Financing & Treasury
The support we received in the structuring of our project by the WCR team enabled us to transform our operational practices and make very significant progress with stocks in 2016, a PMO format which we shall expand on this year.
Chief Financial & Transformation Officer
We called on Eight Advisory to enhance and automate our monthly financial reporting produced for shareholders, the Board and our site directors. Closely focused on our requirements, the consultants working on this assignment constructed a functional model within deadlines that fully met our needs. The data book which was created now provides us with a quick and reliable representation of all of our financial data and the main KPIs which are so vital for managing our business.
Groupe 5 Santé
The Eight Advisory teams supported me in the process to regain control of Hôpital Nord 92 [North 92 Hospital]. For several months, they advised and assisted management, first during the crisis period then during the transition period, with improving organization and securing and structuring the financial processes. Thanks to them, we were able to optimize daily cash flow management and have reliable financial data, particularly useful for decision-making and conducting negotiations with financial partners. They were clearly a decisive asset in keeping the Hospital operating and making it possible to consider, today, a development phase.