Pablo A. Macias, Finance Expert in Madrid, Spain
Pablo A. Macias

Finance Expert in Madrid, Spain

Member since November 10, 2017
A Harvard graduate, Pablo has developed financial models that resulted in the launch of four new digital and software business lines at Flex. He's also created M&A models for acquisitions in multiple industries: spanning financial services, industrials, and tech. Originally from Spain, Pablo moved to Silicon Valley to help develop growth strategies through M&A and new ventures, and he joined Toptal to help clients with their growth initiatives.
Pablo is now available for hire

Career Highlights


Case studies

Industry Expertise

  • Accounting Services
  • Banking
  • Venture Capital & Private Equity
  • Manufacturing
  • Aerospace & Defense
  • Electronics
  • Software
  • Financial Modeling

Other Expertise


  • Managing Partner

    2017 - PRESENT
    Grupo El Molle
    • Served as the managing director for a self-funded search fund created to acquire one single company with EBITDA between €1-4 million.
    • Performed valuation, financial modeling as well as strategic and industry analyses for multiple acquisition targets with EBITDA of up to €1.5 million in oil-&-gas, instrumentation, chemicals, and hardware electronics industries.
    • Researched more than 1,000 companies, contacted ~500, and met with 25 business owners to negotiate a potential sale.
    • Developed business case to acquire two companies: one technology company and one chemical distributor. The acquisition price was considered low by both owners and offers were not accepted; price could not be increased because it did not meet the internal rate of return (IRR) objective of more than 35%.
    Focus areas: Discounted Cash Flow (DCF), Private Equity Valuation, Valuation Modeling, Valuation, Acquisitions, Accounting, Strategy, Pricing Strategy, Financial Modeling, Debt Raises, Cash Flow Modeling, Comparable Company Analysis, Capital Raising, Growth Equity, Private Company Valuation, Private Equity, Mergers & Acquisitions (M&A), Total Addressable Market (TAM), Market Sizing, Competitor Analysis & Profiling
  • Corporate Strategy Manager

    2012 - 2017
    Flextronics (Flex)
    • Supported the senior management in developing growth strategies (M&A strategy and incubation of new businesses) as well as business cases and plans supporting those initiatives.
    • Planned the development of four new businesses in the internet of things (IoT) industry that raised $25 million internally in aggregated funding. Created pricing models, resource plans, budgets, and investment analysis models.
    • Incubated a new business group addressing cloud infrastructure. Developed a business case with market analysis, financial plan, and model linked to product roadmap and milestones.
    • Built detailed financial models including projections, valuation and investment return analyses for acquisitions, investments, and new ventures.
    • Developed M&A strategies for Flex business segments. Created capability and gap assessments and identified and evaluated acquisitions.
    • Crafted the go-to-market strategy and developed pricing models for the Flex Digital Health platform.
    Focus areas: Angel/Seed Funding, Early-stage Funding, Forecasting, Budget Management, Projected Cash Flow, Discounted Cash Flow (DCF), Cash Flow Forecasting, P&L Forecasting, Pricing Strategy, Price Analysis, Pricing, Cash Flow Modeling, Revenue Modeling, Valuation Modeling, M&A Modeling, Financial Management, Financial Modeling, Strategy, Business Planning, Acquisitions, Accounting, Investment Summaries, Investment Briefs, Investment Return Scenario Analysis, Investment Decision-making, Investment Thesis, Early-stage Venture Capital, Startup Funding, Valuation Analysis, Valuation Multiples, Valuation, Mergers & Acquisitions (M&A), United States, Total Addressable Market (TAM), Market Sizing, Competitor Analysis & Profiling, Price Positioning
  • Investment Analyst

    2008 - 2010
    Banco Santander
    • Built detailed financial models supporting multiple bank acquisition scenarios and M&A deal types (acquisition through new equity issue, a merger of equals, a reverse merger with share buyback, and an acquisition with call and put options calculated with the Black-Scholes option pricing model).
    • Performed research and financial modeling and developed business cases for bank acquisitions.
    • Assessed the market entry into the United States through the acquisition of an online bank in 2009. Sized online and mobile banking market opportunities and developed acquisition rationale and financial models.
    Focus areas: Finance Strategy, Financial Statements, Equity Financing, Valuation Multiples, Equity Valuation, Valuation Modeling, Adjusted Present Value (APV), Discounted Cash Flow (DCF), Acquisitions, Accounting, Valuation Analysis, Valuation, Financial Modeling, Financial Options, Reverse Mergers, Mergers & Acquisitions (M&A), Market Sizing, Competitor Analysis & Profiling, Price Positioning


  • Master's Degree in Finance
    2010 - 2012
    Harvard University - Boston, MA, USA
  • Bachelor's Degree in Economics and Business
    2003 - 2008
    European University of Madrid - Madrid, Spain

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