Everything you need to know

We are an independent M&A advisory and strategy consulting boutique based in Lisbon. We help business owners, families and investors sell, buy and value companies in Portugal and Spain, in any sector.

We advise on company sales (sell-side) and acquisitions (buy-side), company valuation, business plans, financial models, transaction structuring, due diligence coordination and negotiation support through to closing.

All of them. We advise companies in any sector, including healthcare (hospitals, clinics, laboratories, dental care, senior care), industry (metalworking, plastics, moulds, textiles, footwear, packaging, automotive, chemicals), energy and renewables (solar, wind, biomass, energy efficiency), infrastructure and construction, technology and software, business services, distribution and retail, logistics and transport, agri-food, wine and beverages, tourism and hospitality, restaurants, education, environment, waste and water, real estate, telecoms, media, pharma, insurance and fintech. If your sector is not listed, talk to us.

We focus on SMEs and the lower mid-market, where our advice adds the most value, but we assess each case individually.

No. We operate in Portugal and Spain, including cross-border deals across the Iberian Peninsula, with domestic and international buyers and investors.

In a boutique, the partners lead the mandate end to end, with fewer intermediaries, closer contact and greater focus on each deal. That is how we work, giving every process our full attention.

The process has six steps: preparation and valuation, sale materials (teaser and information memorandum), identifying and contacting buyers, non-binding offers, due diligence and negotiation of the share purchase agreement (SPA) through to closing. At Lealia we run every phase in close coordination with our clients.

When results are solid or growing, founder dependence is low and financial information is well organised. Companies are also often sold for succession, retirement, lack of a successor, capital needs or the entry of a strategic partner. Every process is unique and the "right time" often depends on the macroeconomic context.

It always depends on complexity, information quality and buyer interest. Most processes take between 6 months and 1 year.

Strategic groups in the same sector, private equity funds, family offices, consolidators (buy-and-build) and international investors. We select the buyers best suited to your company's profile and sector.

Yes. The company is presented anonymously and its identity is only disclosed once the buyer signs a non-disclosure agreement (NDA). Employees, clients and competitors only find out when you decide.

Yes. You can sell a minority or majority stake, bring in a financial partner or carry out a corporate reorganisation. The structure depends on your goals.

The teaser is an anonymous one-to-two-page summary presenting the opportunity. The information memorandum (IM) is the detailed document, shared only with qualified buyers after the NDA.

It is the buyer's review of the company (financial, tax, legal, commercial, operational) before closing. Preparing information well in advance avoids delays and price cuts.

Accounts for recent years, recent trial balances, business plan, list of main clients and suppliers, relevant contracts, employment and tax information and the corporate structure. We help organise everything so the process does not disrupt operations.

It depends on the contract. The price may be paid in full at closing or include deferred components, earn-outs or retentions. These mechanisms are negotiated in the SPA.

It is not mandatory, but an advisor widens the pool of buyers, protects confidentiality, creates competition between offers, defends the price and secures better negotiating terms.

Selling without preparing the information, relying on a single buyer, disclosing the process too early, accepting the first price without competition and neglecting the tax and contractual structure of the deal.

Yes. We support defining the acquisition strategy, identifying and approaching targets, valuation, financial modelling, negotiation and due diligence coordination.

Yes, through market screening and direct, confidential approaches to owners, even when the company is not for sale.

It depends mainly on EBITDA and its quality, growth, revenue recurrence, founder dependence, client concentration, sector and debt. For an indicative value, request the free preliminary report.

The most common are DCF (discounted cash flows), market multiples (e.g. EV/EBITDA) and comparable transactions. More than one method is usually used.

Enterprise value is the value of the business. Equity value is what belongs to the shareholders, i.e. enterprise value minus net debt and other applicable adjustments.

With a valuation combining DCF, market multiples and comparable transactions. We offer a free preliminary report with an indicative value range and the main factors driving it. For a more detailed analysis, there is the full report.

Yes, it is free and without obligation.

An indicative value range, the company profile, the scope and multiples-based valuation method, EBITDA adjustments and the next steps of the process. It is a first, non-binding reference.

Every section of the report: executive summary, value scenarios, equity bridge, value drivers and risks, DCF valuation with projections and WACC, sensitivity matrix and market-readiness plan.

The full report costs €299, VAT included. The invoice is sent to the email provided within 3 business days at most.

The preliminary report is free and gives an indicative value range to decide next steps. The full report is paid and more detailed, with documented analysis and assumptions.

Sector and activity, revenue, EBITDA, depreciation and amortisation, cash and financial debt, operating real estate, client concentration and the context and motivation for the deal. The questionnaire has seven short steps and takes under 5 minutes.

Our team validates the data and sends the preliminary report in under 3 business days. The full report is sent by the team as soon as possible after payment is confirmed.

Yes. We value companies in every sector, from healthcare to industry, energy, technology, distribution, tourism, agri-food, services and more. Multiples and value drivers are adjusted to each one.

Yes. It is handled confidentially and in line with our privacy policy. You can request an NDA before sharing sensitive data.

No. Both the preliminary and the full report are indicative decision-support analyses, not formal opinions for specific purposes such as litigation, corporate or tax transactions.

No. Value is a technical estimate. The final price results from negotiation, buyer interest, deal structure and the market.

Yes. Knowing the value range lets you set expectations, see what to improve and decide when to sell.

Yes. Many owners value their company to plan succession, bring in a partner, negotiate with banks or simply know its worth.

The online valuation requires minimum annual revenue of €50,000 and EBITDA of at least €10,000. We focus on SMEs and the lower mid-market, but we review each case.

Fees are set out in a proposal before the mandate starts and are tied to the scope and size of the deal.

Through the contact form, by email (geral@lealiaap.com) or on LinkedIn. The first conversation is confidential and without obligation.