Paul Piretti, a 150-year-old construction company, had been looking for a buyer for several years when a group of three young entrepreneurs got together to purchase it. Their aim was to continue the Piretti business, focusing on its real estate assets.
Eighteen months after the takeover, it became clear that it would be preferable to divide the company’s activities, leaving the investors to concentrate on restoring Piretti’s old headquarters, while the young managers would form a new company and take over the plastering and painting business.
Step by step, we advised the investors on the acquisition process (financial and tax due diligence), the separation of assets (operations and real estate) and finally on the management buyout.
To ensure the operation’s success, we filed a ruling request with the tax authorities. This enabled the assets to be transferred under the best possible conditions, satisfying all parties.Frédéric Berney, Partner
The ability of Berney Associés to analyse, advise and resolve difficult problems to the satisfaction of all involved is a rare and precious quality.Mike Wolfson, Director of Paul Piretti SA