Your company is worth less than it should be
A buyer prices in everything that rests on you. Thirteen weeks and six workstreams, led by a tax lawyer, to reverse the trend — sell at the right price, or simply gain breathing room.
A profitable company can still sell poorly
Your involvement made it grow. But a buyer pays for what carries on without effort: anything that is not organised becomes a risk, and therefore a discount.
Six levers, one per workstream. The heaviest, dependence on the owner, alone takes 15 to 40% off the price.
Four things that bring the price down, explained
The four issues every buyer examines, in this order, as soon as they open the file on an SME.
Accounts not restated
Remuneration, personal expenses, property, exceptional items: no one knows what the business really earns.
The buyer then takes the lowest figure they can justify.
Key people not secured
Two or three people hold knowledge that nothing records — and that nothing retains after the sale.
The buyer puts a cost on their departure, and funds it out of your price.
A concentrated customer base
One customer accounts for more than a quarter of revenue, or the contracts do not survive a change of ownership.
The buyer turns your revenue into an assumption.
Operations and assets intermingled
Premises, brand, vehicles, shareholder current accounts held in the operating business: that is not what the buyer is buying.
The buyer pays for what they do not want, and deducts it from the price.
How the price of an SME is built
Three mechanisms to understand before any discussion of price.
In thirteen weeks, we do not work on earnings. We work on the multiple and on net debt.
The stronger the file, the larger the share paid at closing.
Tick what applies to your company
Eight points. Each one matches a discount a buyer knows how to quantify, and a workstream that addresses it.
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You want breathing room, or you are selling soon
Both lead to the same work: making the company able to run without you.
You want to sell in the coming years
You arrive with a well-prepared file and written answers: you negotiate, instead of being driven by the buyer's timetable.
You have no date in mind, but you want to step back from day-to-day operations
You take back some room for yourself, your managers gain autonomy — and value rises with them. A sale remains an option.
The Value Enhancement Programme
Thirteen weeks, a weekly 90-minute call in a fixed slot, an initial diagnostic, then six workstreams run in parallel. At the end, a value case that stands up to due diligence.
What the buyer takes off the price, and the workstream that corrects it
Each discount has its order of magnitude and its workstream: the programme tackles them all at once.
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A value case, not a fee note
Everything the programme produces stays with you, and is useful even if you never sell.
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A multidisciplinary team, a single point of contact
The programme was designed by Maître Julien Pateoueille, tax lawyer and member of the Hauts-de-Seine Bar: the method used on major transactions, scaled to an SME.
Around him, a corporate lawyer, a valuation expert, an employment law expert and partner experts — for you, a single point of contact through to signing. Tour First, La Défense; throughout France.
Discounts, structure, tax: what we see in our matters
Short analyses, drawn from real matters and the legislation in force.
Listening, clarity, support
“Very good support. He took the time to understand my situation and to explain things to me clearly.”
“A very human lawyer who truly listens to his clients.”
“Beyond his unquestionable technical skills, I appreciated how well he listened and how quickly he understood what was at stake for me personally.”
“I wanted to leave a review because tax is often a complex and stressful subject, but here I found truly reassuring support.”
“One of the best services I have ever received, in any field.”
“A professional who listens, with the rigour always to find the right solution!”
“I wanted to reduce my tax burden. The first meeting was excellent: Maître Pateoueille immediately understood my issue and my tax situation.”
“An excellent lawyer who quickly grasped my tax issue and gave me a more than relevant answer.”
“At last, a tax lawyer who lives up to expectations.”
“Excellent support, with expertise I greatly appreciated.”
“Precise, professional support, suited to my needs.”
A first 45-minute conversation
We check that the programme makes sense for you — and we tell you plainly if it does not. You then receive your preliminary valuation report within 5 working days.
How far the company depends on you, your contracts, your structure, the clarity of your accounts.
A written preliminary report within 5 working days: discounts quantified and ranked by priority.
The lawyer who would handle the matter, not a salesperson. A single point of contact.
Nothing. The preliminary assessment is complimentary, with no obligation to proceed.
92400 Courbevoie — La Défense, France