How our engagements run
Two families of engagements, two fee logics: transaction mandates are most often remunerated on success, valuation mandates through a fixed fee or a milestone retainer.
In both cases the framework is set out in writing before work begins: scope, timetable, deliverable and fees all appear in the engagement letter, and at every step you know where your file stands.
This distinction is not merely a billing question, it shapes the position we take. On a transaction mandate our interests are aligned with yours: we are paid if the transaction completes, and paid well if it completes on good terms. On a valuation mandate the opposite is what protects you: a fee that is independent of the outcome is the condition for a value to be credible before a buyer, a court or a tax authority.
How does a transaction mandate run?
Disposal, acquisition or fundraising: a structured six-step process lasting 6 to 12 months, in which most of the fee can be made conditional on the closing.
The timeline depends above all on three things: how well prepared your file is, the number of counterparties approached and the depth of the due diligence. A file prepared in advance noticeably shortens the first two steps.
The costliest mistake is to rush the preparation in order to save a few weeks. A buyer who uncovers an unanticipated issue during due diligence does not walk away: they revise their price or tighten their warranties, and the time supposedly saved is paid for at the closing. The first two steps are therefore where most of the value is decided, long before the negotiation.
step 1
Rationale for the transaction
Objectives, scope, timetable and confidentiality, set out in the engagement letter.
step 2
Preparation
Valuation, teaser, information memorandum and data room.
step 3
Approaching counterparties
Qualified buyers or investors, approached confidentially, in a competitive process.
step 4
Offers and negotiation
Expert sessions, process letter sent out, negotiation and receipt of non-binding offers.
step 5
Due diligence
Audit by the counterparty, data room, negotiation of warranties.
step 6
Signing and closing
Legal documentation, transfer, payment.
How does a valuation mandate run?
Valuation, due diligence, fairness opinion, PPA or impairment: five steps, 3 to 7 weeks, on a fixed fee or a milestone retainer set in the mandate, independent of the outcome so that the independence of the opinion is guaranteed.
The timetable depends first on how quickly documents are made available. We send the full list as early as step 2, and an interim presentation is given to you before the final drafting, so that the final report holds no surprises.
A valuation report is worth only what it can withstand under challenge. That is why every assumption in it is sourced, every method cross-checked against at least one other, and every gap between approaches explained rather than averaged away. The deliverable must be readable by your counterparty, your auditor or a court without you having to defend it yourself.
step 1
Rationale for the engagement
Intended use of the deliverable, scope and firm price, settled before any work.
step 2
Document gathering
Document request list, discussions with your advisers.
step 3
Analysis
Financial model, restatements, cross-checked methods.
step 4
Draft report and discussion
Interim presentation, questions, factual adjustments.
step 5
Signed final report
A documented deliverable, traceable and defensible.
.jpg)
Commitment at the heart of every mandate
Confidentiality first
A confidentiality undertaking signed before any information is exchanged.
A written framework
An engagement letter setting out scope, timetable, deliverable and fees.
A single point of contact
The same partner follows you from the scoping call to the delivery of the report.
The range of clients we advise
Family Offices
Executives and management teams
Family shareholders
Private equity funds
Family businesses
SMEs & mid-market companies
transactions analyzed
years of expertise
clients advised
Discover our TRACK RECORD
The transactions presented were carried out by, with the contribution of, or with the participation of members of the Hectelion team in the context of functions performed currently or previously.
Frequently asked questions
Generally between 6 and 12 months, from scoping to closing. Preparing the file and the due diligence account for most of that time: a company whose accounts and contracts are already in order moves noticeably faster.
Yes. The engagement letter sets out the termination conditions and the notice period. Work already carried out and retainers already due remain payable, with no exit penalty.
The same partner, from the scoping call to the delivery of the report. No rotating team and no junior on the front line.
Before any information is exchanged, from the very first meeting if you wish. The counterparties we approach also sign a confidentiality undertaking before receiving any identifying information.
From 3 to 7 weeks depending on the scope and on how quickly documents are available. An indicative valuation takes 2 to 4 weeks; a defensible or multi-entity file takes longer.
We structure it with you: document list, folder tree and consistency checks. You provide the documents, we make sure they answer the questions a buyer will ask.
Yes, always. We handle the financial side and coordinate our work with your lawyer, your trustee or your accountant, without taking their place.
Through a review at every step reached and through permanent access to your contact. No next step begins without your approval.
Signature of the final documentation, transfer of the shares, payment of the price and, where applicable, the setting up of warranties and escrow. We check that the final price adjustments are financially consistent.
Yes, by committing more resources and limiting the number of counterparties approached. Acceleration is usually paid for through less competitive tension, and therefore a potentially lower price.
Let's discuss your strategic projects
Our team supports you with independence, rigor and proximity to transform your ambitions into tangible results.