Business valuation
Independent valuation of companies and ownership interests for transactions, investment, restructuring and shareholder decisions. We combine financial analysis, market research and a clear view of the business's prospects into a value you can defend.
What we value
Companies
Operating businesses in any sector, from SMEs to large groups.
Shares and interests
Controlling and minority stakes, including discounts for lack of control and marketability.
Start-ups and growth companies
Early-stage businesses, valued on scenarios and milestones.
Goodwill and cash-generating units
For impairment testing and purchase price allocation.
When you need a business valuation
- Buying or selling a company or a stake (M&A)
- Attracting investors or a new partner
- Shareholder disputes and partner exits
- Restructuring and reorganisation
- Goodwill impairment (IAS 36) and purchase price allocation (IFRS 3)
- Court and arbitration
How we arrive at the value
Discounted cash flow (DCF)
We forecast free cash flows on assumptions we can explain, discount them at a cost of capital built for Georgian country and company risk, and test the result with sensitivities.
Market approach
Multiples of comparable listed companies and transactions, adjusted for size, growth and market.
Adjusted net asset method
For holding and asset-heavy companies: the market value of assets less liabilities.
How a valuation works
Tell us about the task
Send us the property or company, the purpose and any documents you have. We confirm the scope, timing and fee in writing before we start.
Inspection and analysis
We inspect the asset, research the market and apply the methods that fit the purpose of the valuation.
Report and explanation
You receive a signed report in Georgian or English, and we walk you through how we reached the conclusion.
Frequently asked questions
What information do you need?
Financial statements for the last three years, current-year management accounts, a budget or forecast, and a conversation with management about the business.
Is a minority stake worth its pro-rata share?
Usually not. A minority interest may carry discounts for lack of control and marketability. We quantify these based on the shareholder rights involved.
Can you review a valuation prepared by someone else?
Yes. We provide independent reviews of third-party valuations, for example in shareholder disputes or for a board.
Other services
Tell us what you need valued
Send a short description and we will reply with a scope, timing and fee, usually within one working day.
- Phone
- +995 599 05 30 00
- [email protected]
- Office
- 12 Pavle Aslanidi St., Tbilisi
Open in Google Maps - Hours
- Monday to Friday, 09:00–18:00