Afkortingen

De M&A-wereld gebruikt enorm veel afkortingen, welke de adviseurs zeer graag gebruiken. Om niet overweldigd te raken door deze termen waar de investeerder of adviseur zijn op deze pagina de meest voorkomende afkortingen weergegeven. Gezien de origine van deze afkortingen in het Engels is zijn de Engelse definities weergegeven. Als er iets ontbreekt laat het dan weten in de reacties hieronder!

ABBREVIATION	DEFINITION
APA	Asset purchase agreement
BP	Business plan
BS	Balance sheet
BU	Business unit
CAGR	Compound annual growth rate
CAPEX	Capital expenditures
CCC	Cash conversion cycle
CDD	Commercial due diligence
CF	Cash flow
CGT	Capital gains tax
CIM	Confidential information memorandum
CIT	Corporate income tax
COC	Change of control
COGS	Cost of goods sold
COS	Cost of sales
D&A	Depreciation & amortization
DCF	Discounted cash flow
DD	Due diligence
DIO	Days inventory outstanding
DPO	Days payable outstanding
DSO	Days receivable outstanding
DTA	Deferred tax asset
DTL	Deferred tax liability
EBIT	Earnings before interest and taxes
EBITDA	Earnings before interest, taxes, depreciation and amortization
ERP	Enterprise resource planning
EV	Enterprise value
FC	Forecast
FCF	Free cash flow
FDD	Financial due diligence
FS	Financial statements
FTE	Full time equivalent
FY	Fiscal year
GAAP	Generally accepted accounting principles
HOA	Heads of agreement
HR	Human resource
IC	Investment committee or intercompany
IFRS	International Financial Reporting Standards
IM	Information memorandum
IOI	Indication of interest
IPO	Initial public offering
IRS	Internal revenue service
JV	Joint-Venture
KPI	Key performance indicator
LB	Locked box
LBO	Leveraged buy out
LFL	Like-for-like
LOI	Letter of intent
LTM	Last twelve months
MA	Management accounts
M&A	Mergers & Acquisitions
MAC	Material adverse change
MAE	Material adverse event (or effect)
MBI	Management buy in
MBO	Management buy out
MOU	Memorandum of understanding
MP	Management presentation
MRR	Monthly recurring revenues
MT	Management team
NAV	Net asset value
NBO	Non-binding offer
NDA	Non-disclosure agreement
NOPLAT	Net operating profit less adjusted taxes
NWC	Net working capital
OPEX	Operating expenses
PBT	Profit before taxes
PE	Private equity or Price-to-earnings
PF	Pro forma
PL	Profit- and loss account
PMI	Post-merger integration
PSA	Purchase and sale agreement
Q&A	Questions & Answers
R&D	Research & Development
R&M	Repair & Maintenance
RR	Run-rate or recurring revenues
SLA	Service level agreement
SPA	Share purchase agreement
SWOT	Strengths, weaknesses, opportunities and threats
TDD	Tax due diligence or Technical due diligence
TS	Term sheet
TSA	Transitional service agreement
TTM	Trailing twelve months
TWC	Trade working capital
USP	Unique selling point
VAT	Value added tax
VC	Venture capital
VDD	Vendor due diligence
VDR	Virtual data room
WACC	Weighted average cost of capital
WC	Working capital
YTD	Year-to-date
YTG	Year-to-go