Kasteellaan 160 | B-9000 Gent | BE 0426.851.666 | RPR Gent | TEL. +32 9 224 43 60 | FAX +32 9 224 01...
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Transcript of Kasteellaan 160 | B-9000 Gent | BE 0426.851.666 | RPR Gent | TEL. +32 9 224 43 60 | FAX +32 9 224 01...
Kasteellaan 160 | B-9000 Gent | BE 0426.851.666 | RPR Gent | TEL. +32 9 224 43 60 | FAX +32 9 224 01 69 | www.dvn.be | [email protected]
When I’m 64
InterDirect Networksept 2010
Georges Van Nevel
Kasteellaan 160 | B-9000 Gent | BE 0426.851.666 | RPR Gent | TEL. +32 9 224 43 60 | FAX +32 9 224 01 69 | www.dvn.be | [email protected]
Succession planning or
the next generation
Trends
● Sector fragmentation◦ Smaller agencies◦ Importance of freelance groups
● The role of procurement and financial people: ◦ Fee and price pressure
Trends
● Marketing is becoming increasingly marginalised in big companies. Even more in smaller countries.
● Networks are concentrating on BRIC-countries and on-line.
● China: they have the tangible stuff, but they don’t have the brands.
● Converting communication into a commodity.Split-up of the jobs.
Trends
● Digital/social media are our core business.● Software as a commodity tool in the digital world.● Private equity offers other opportunities.
Selling to the kids
●Do they have the know-how and the skills?●Integration within the existing
management team.●Your other kids.
Selling to the management team
● Are they willing to invest?● Do they have the money or the capital sources?
New trend
● A mix of shareholders. ● The previous owner becomes sleeping partner.● Other parties concerned become shareholder (eg
printer, software developer, holding, …)
Rating methods
● Based on historical performances.● Discounted Cash Flow method (DCF).● Earn out:
◦ Based on growth◦ 3 – 5 years◦ Multiplier influenced by certain criteria
● Importance of continuity● Value ≠ price