P&S Group is one of leading providers of business valuation and financial advisory services in Slovenia and one of the fastest growing in South Eastern Europe. Since the inception in 1989 we have been continuously expanding our business by providing other services including financial and operational restructuring, pre-bankruptcy and insolvency procedures, independent business reviews, strategic advisory, corporate performance management and legal advisory.
We provide services with the aim of maximizing shareholder value for our clients, investors and partners, for whom we have become a bridge between the East and the West.
Our target regions are Slovenia, South Eastern Europe, Romania, Bulgaria, and Ukraine, where we can leverage our in-depth expertise in doing business in countries with transition economies. In addition, we have successfully completed several projects in Italy, Austria, Spain, the United Kingdom and the USA.
Financial advisory, M&A, NPLs , restructuring and valuation
P&S Group is a leading provider of business valuation and financial advisory services in Slovenia and one of the fastest growing in South Eastern Europe.
Already in 1989 experts of P&S CAPITAL carried out the valuation of Belinka company for the purposes of sale to a foreign strategic investor, which was considered as a very first business valuation in Slovenia. In the following years, business valuation and valuation of real estate and machinery represented the core of P&S CAPITAL’s activity. Most of the business valuations were carried out for the
Already in 1989 experts of P&S CAPITAL carried out the valuation of Belinka company for the purposes of sale to a foreign strategic investor, which was considered as a very first business valuation in Slovenia. In the following years, business valuation and valuation of real estate and machinery represented the core of P&S CAPITAL’s activity. Most of the business valuations were carried out for the purposes of sale to foreign strategic investors.
Since the very beginning, P&S CAPITAL aimed at developing own methods and models for business analysis and valuation of Slovenian companies. In doing so, we cooperated closely with various foreign advisors and experts from the Faculty of Economics in Ljubljana. We based ourselves on modern methods and models commonly applied in developed market economies, while trying to logically adjust them to the particularities of the Slovenian market situation. Due to the specific characteristic of the Slovenian accounting principles in the transition period, our financial experts developed a program for reclassification of income statements to an internationally comparable form and their conversion into fixed prices.
P&S CAPITAL employees were among the first in Slovenia to register as certified business valuators and were granted real-estate valuation licences, and machinery and equipment valuation licences as well. Our experts held the positions of permanent court experts for economy and accounting, specialised in business valuation, company’s physical assets and finances. Owing to our professional work and numerous experiences, we cooperated in development of a Slovenian Business Valuation System and were involved in the Educational System of Slovenian Business Valuation Appraisers. Our valuators held lectures at the CISEF (Centre for Management Development and Training) in cooperation with the Faculty of Economics, the Agency of the Republic of Slovenia for Restructuring and Privatisation, the CEEPN (Central & Eastern European Privatization Network), and at the Slovenian Institute of Auditors.
Based on experiences gained in business valuation, P&S CAPITAL expanded its services to due diligence procedures and restructuring advisory services. As restructuring experts, we were engaged in the project of restructuring Slovenian companies which came under the ownership of the former Slovenian Development Fund in 1992. We also took part in assessing the prospects of Slovenian companies in the framework of the EBRD project “Special Restructuring Program in Slovenia” and participated in the World Bank’s CEEPN project in Latvia as advisors to Latvian Privatisation Agency.
During the period of Slovenian privatisation, the number of business valuations carried out for the purpose of privatisation increased significantly. In that period, P&S CAPITAL experts offered consulting services to numerous large Slovenian companies in the processes of privatization.
When the activities of the business valuators’ organisation were transferred to the Slovenian Institute for Auditing, experts of P&S CAPITAL were among the first to be registered as certified business valuators.
In the first phase of privatisation, P&S CAPITAL founded and became the majority owner of ATENA, the third largest management company for investment funds, and its authorised investment companies. In addition, we founded and became owners of the management company CERTIUS and its authorised investment companies. Their main activity was to collect the ownership certificates from citizens and exchange them for shares of the companies which were offered for sale at auctions of the Slovenian Development Corporation. We also actively participated in managing and forming the portfolio of the abovementioned investment companies.
A constant need for the support of the decision-making process and for the preparation of business plans prompted P&S CAPITAL to develop own software for financial planning, which is nowadays used in several renowned Slovenian companies. In addition to the expert knowledge, we based our software development on practical experiences gained in business valuations and financial advisory. We advised over 40 companies on their financial planning, working capital management and implementation of modern management methods (EVA, ABC, ABM, etc.).
In the following years we considerably expanded our range of services. Since then, our experts have successfully advised our clients on company sales and acquisitions, M&As, corporate restructuring turnaround, asset management and strategic planning.
In times of globalisation and consolidation in numerous industries, we have successfully closed several purchases, sales, mergers and acquisitions of the companies in telecommunication, transportation and chemistry sector, in retail and wholesale, food and drinks manufacturing, oil derivatives and ferrite production industry. We carried out numerous due diligence procedures and business valuations of companies, which Slovenian companies acquired in Slovenia, Croatia, Bosnia and Herzegovina, Serbia and Montenegro. Our skilled experts offer advisory services to our clients in all phases of M&A procedures, including the post-merger and post-acquisition integration of the companies. In all instances of capital integration, a particular attention is paid to increasing shareholder value and revealing the risks and opportunities.
Experts of P&S CAPITAL actively participated corporate restructuring and turnaround processes in retail and wholesale, food manufacturing and transportation industry. In this framework, we provided consulting services on business strategy formation to numerous Slovenian companies with the aim of strengthening market position and increasing shareholder value.
Based on many years’ experience, numerous references and continuous monitoring and analysing of situation on the European and world financial markets, P&S CAPITAL expanded its activities to the markets of South Eastern and Eastern Europe by establishing subsidiaries in Bulgaria, Romania and Ukraine. The companies acting under the common brand name P&S GROUP offer financial advisory services in Bulgaria, Romania, Ukraine and the United Kingdom, while P&S CAPITAL, which continues to have its seat in Ljubljana, covers the target markets of Croatia, Bosnia and Herzegovina, Serbia, Montenegro, Macedonia, Kosovo and Albania.
In addition to expanding to South Eastern and Eastern European markets, we established a managing company P&S East Growth Luxembourg SICAR, for the purposes of investing and managing private equity funds which have increasingly gained importance in recent years. As P&S CAPITAL lacked its own capital, the expansion to the private equity funds management was an ideal opportunity to raise capital for intended acquisitions in the target regions. The majority of raised funds have been invested in majority shares of medium-sized companies in Bulgaria, Romania and Ukraine, with the aim to develop the acquired companies and enable above-average investment returns upon exiting.
In P&S GROUP we complemented our consulting experiences in strategic planning, corporate restructuring, corporate finance and controlling, with the implementation of Cognos, a system for support in decision-making, which is the world’s leading software for business planning, consolidation, monitoring and analysing. Cognos IT solutions offer the basis and connect all the processes and elements of Corporate Performance Management, thereby enabling the companies to enhance their focus and efficiency in all business segments, from business planning, assessing and monitoring, to reporting and analysing. On the basis of Cognos platform we developed the application PRO-F, which enables corporate planning and is open for further adjustments and upgrades in accordance with the client’s needs.
Intensive growth of the world economies followed by one of the deepest financial and economic crisis prompted the managers to seek alternative ways to enhance their businesses. We help those clients with a wide range of consulting services and practical solutions which are adapted to specific needs of individual businesses. Therefore, our consulting services include: corporate restructuring, strategic planning, consultancy in pre-bankruptcy and insolvency procedures. At the same time, we assist our clients in implementing corporate performance management and IT solutions enhancing performance.
Investment potential of Ukraine encouraged us to establish a subsidiary P&S CAPITAL Ukraine in 2008, to facilitate financial advisory and consulting services to Ukrainian companies in company sales, mergers and acquisitions. Nevertheless, the first financial advisory project for a Slovenian company was completed in Ukraine already in 2005. Through a newly founded subsidiary we initiated the procedures for the establishment of a managing company P&S Asset Management Ukraine, which became operational in 2009.
Years of business cooperation with various partners, ability to combine expert knowledge with pragmatic approach to all levels of business, and development of own methods and systems for the support of decision-making process encouraged us to establish a separate entity P&S BUSINESS SOLUTIONS, to which the activities related to Corporate Performance Management have been transferred. The company offers a wide range of services for enhancing corporate performance on all business levels. Convinced that companies seek complete solutions that go beyond the financial advisory, we complemented our services with the information technology support.
As part of our investment management arm of operations, we provide investment consulting services to individual and institutional clients seeking to preserve and increase the value of their wealth. To this end, P&S Group has partnered with the team of Dr. Yevhen Pentsak – a world class investment expert with over 10 years of experience. Yevhen is Academic Director of Master of Banking and Finance program at Kyiv Mohyla Business School and holds a PhD in Financial Asset Management and Engineering from Lausanne University and Swiss Finance Institute. In Ukraine, P&S Asset Management is active on the market of mutual funds through several strategy-specific funds allowing for meaningful diversification.
As financial crisis hit Slovenia and its banking sector we expanded our services to restructuring services for companies in distress. In this framework, we provide consulting services to companies in financial distress, companies in pre compulsory settlement or bankruptcy procedures or companies that already entered into these procedures. We offer business strategy formation and independent business reviews to companies with the aim of business turnaround.
In 2013 our clients began to seek M&A consulting services as they pursued the goal of selling their stakes in companies. We began to actively participate in M&A transactions in the role of sales side or buy side advisor. We have experience in doing business in cooperation with foreign advisors as a partner on the domestic market in the M&A procedures and also acting as a leading advisor in the sale and buy procedures.
With the offer of valuation of non-performing loans we completed a circle of services which are related to the companies in distress, thus offering the valuation of equity, advising in the assets or investment disposal for companies in distress (and also others) and valuing loans of companies in distress. Our non-performing loans expertise includes advising to financial institutions on disposal of bank claims and potential buyers on acquisition of either single corporate non-performing loans or NPL portfolios.
Following the developments in the developed countries we expanded our services to the valuation and advisory for startup and emerging companies. We do business with one of the pioneers and now leaders in the startup industry in the Slovenian market.
years of experience
We adapt methodologies from the Western markets
to the peculiarities of our target region.