Practice
Transactions, Valuation & Capital Advisory
Preparation and judgement for the transactions that define ownership.
Thyor supports acquisitions, disposals, capital decisions and ownership transitions through valuation, modelling, diligence analysis, term-sheet evaluation, exit readiness and negotiation support. The firm does not solicit securities, contact buyers, act as a broker-dealer or charge transaction-based fees.
Why it matters
Value and terms are usually shaped before the formal process.
Most value in a transaction is won or lost before the process begins: in the quality of the numbers, the credibility of the forecast, the coherence of the equity story and the seller’s or buyer’s readiness for scrutiny. Parties that arrive prepared set the terms of the discussion; parties that do not, concede them.
Middle-market and founder-led businesses in particular face processes run by counterparties who transact for a living. Institutional investors and strategic buyers bring diligence teams, models and experience. An owner selling once, or a company raising institutional capital for the first time, needs equivalent preparation on its own side.
Capital decisions are equally consequential in quieter moments: the right capital structure, the right instrument, the right moment. Debt and equity choices made under pressure are usually the most expensive a business ever makes.
Readiness signals
When outside scrutiny, capital or ownership change is approaching.
- 01
A sale or exit is on the horizon
Value, timing, structure and readiness need independent assessment twelve to twenty-four months before a process.
- 02
An acquisition opportunity appears
Valuation, diligence coordination and financing must move quickly without surrendering rigour.
- 03
Institutional capital is being raised
The model, materials and financial narrative must survive professional scrutiny.
- 04
A refinancing or recapitalisation approaches
Options across the capital structure need evaluation before covenant or maturity pressure removes them.
- 05
A number must be defensible
A valuation for a transaction, a dispute between owners, a buy-in or a buy-out must rest on method, not assertion.
- 06
Integration or separation must be planned
The financial architecture of combining or carving out businesses needs design before execution.
- 07
An owner wants options, not a process
A confidential, structured view of what the business is worth and what paths exist — without triggering a market approach.
Process stages
A readiness-to-completion sequence.
- 01
Define the objective and constraints
Value expectations, timing, tax position, confidentiality limits and the counterparties likely to be involved.
- 02
Build the financial foundation
Normalised earnings, an institutional-grade model and a forecast that connects to operational reality.
- 03
Assess options and structure
Valuation ranges, alternative structures, financing capacity and the trade-offs between them.
- 04
Prepare for scrutiny
Materials, data-room readiness and diligence anticipation — the questions counterparties will ask, answered before they ask them.
- 05
Support execution
Coordination across advisers, analysis through negotiation, and management of the financial workstreams to completion.
- 06
Land the outcome
Integration, separation or post-completion reporting so the value negotiated is the value retained.
Transaction architecture
Valuation, diligence, capital and financial preparation.
M&A advisory
- Buy-side and sell-side support
- Transaction strategy
- Exit readiness
- Deal structuring
Analysis & valuation
- Valuation
- Financial modelling
- Financial and commercial diligence coordination
- Quality of earnings support alongside credentialled providers
Capital
- Capital raising
- Debt and equity financing strategy
- Acquisition financing
- Refinancing and recapitalisation options
Process & materials
- Investor materials and financial narratives
- Management presentations
- Integration and separation planning
- Carve-out financial architecture
Transaction artefacts
The financial materials the process stands on.
- Decision-grade transaction and operating models
- Valuation analyses and ranges
- Exit-readiness assessments
- Investor presentations and financial narratives
- Diligence coordination and issue logs
- Financing option papers and lender materials
- Integration and separation financial plans
Representative situations
The shape of mandates in this practice.
Sell-side preparation for a founder exit
A founder considering a sale within eighteen months needed to understand value, readiness and structure. Thyor built the valuation foundation, addressed reporting gaps and coordinated the advisers who ran the process.
Capital raise for an expansion programme
A company funding a significant capacity investment required a financing strategy and investor-grade materials. The firm prepared the model and narrative and supported the raise to close.
Selected work
Valuation, tax and exit readiness for an owner liquidity eventValuation foundation, readiness programme and owner tax coordination→Liquidity and lender-information reset for a sponsor-backed services companyInterim CFO support, cash control and refinancing preparation→Fleet economics and tax architecture for a private-aviation platformFP&A, fleet model, tax review and capital strategy→Next step
Preparation and judgement for the transactions that define ownership.
Early conversation improves outcomes; confidential enquiries welcome.