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Pierre-Alexandre Heurtebize, Finance Expert in Nantes, France
Pierre-Alexandre Heurtebize

Finance Expert in Nantes, France

Member since January 31, 2017
Pierre has contributed to the completion of over 30 transactions across Europe and Australia, specializing in the retail, SaaS, and technology spaces. He helped entrepreneurs, CEOs, and CFOs make investment decisions via the delivery of comprehensive financial analyses and detailed operating models. As a freelancer, he helps clients overcome their M&A-related challenges and advising entrepreneurs looking for sources of financing.
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Career Highlights

Education

  • MBA
    Essec Business School

Select Certifications

Case studies

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Industry Expertise

  • Agriculture
  • Accounting Services
  • Finance
  • Investment Banking
  • Venture Capital & Private Equity
  • Food & Beverage
  • Retail
  • Financial Modeling

Other Expertise

Employment

  • M&A Advisor and Modeling Specialist

    2019 - PRESENT
    Freelance
    • Sourced and executed SaaS deals, serving as an M&A advisor at HoriZen Capital, investing in companies generating between $500,000 and $5 million in revenue.
    • Managed relationships with target company CEOs, conducted financial analysis, built model valuation, and advised on negotiations and deal structuring.
    • Worked on a discounted cash flow valuation model for a solar panel company looking to raise a seed round of several million dollars.
    • Created Excel models and best practices for download as an author on Eloquens.com with over 180 downloads in four months. Models include price-volume mix analysis, inventory tracking and management, and financial due diligence starter packs and cap tables.
    • Advised and built business plans for different entrepreneurs in the well-being industry, online fashion, and for an intrapreneur in the healthcare insurance industry looking to raise $12 million in funding.
    • Built a multiple rounds cap table model for a SaaS startup looking to raise a seed round and a series A of several million dollars. The model included SAFE conversion, management option pool creation, and the possibility for multiple investors to participate in the different rounds.
    • Built a full financial model for a client looking to launch an investment firm. Created financial projections with several sources of revenue and different revenue options (funds management fee vs. brokerage fee).
    Focus areas: Financial Planning & Analysis (FP&A), SaaS, Valuation, Cap Tables, Due Diligence, Mergers & Acquisitions (M&A), Lead Generation

  • Senior Consultant M&A Transaction Services

    2014 - 2019
    PwC
    • Built a broad range of Excel models including modeling of proforma accounts, carve-out, DSO-DPO-DIO, price volume mix, advanced churn, organic and inorganic growth analysis, pipeline, and backlog analysis.
    • Conducted comprehensive commercial and financial analysis of target companies to present a normalized view of EBITDA (QofE) net debt and net working capital, focusing on identifying unusual items, changes in accounting, changes in perimeters, any significant change in the business landscape and policies or abnormal levels of inventory, account receivables, and account payables.
    • Conducted analyses on profitability drivers and margin sensitivity, assessed the impact of new strategies, developed budgeting processes, and delivered monthly and yearly variance analysis.
    • Built historical three-statement financials and detailed forecasts based on trial balance-level detail.
    • Conducted interviews of top management and finance professionals to retrieve information to assess the financial and operating health of target companies.
    • Managed cross-cultural and cross-department teams, liaising with legal, data analytics, and corporate finance teams.
    Focus areas: Normalization, Pro Forma Financial Statements, Business Planning, Financial Analysis, Financial Modeling, Financial Planning & Analysis (FP&A), Mergers & Acquisitions (M&A), Due Diligence

  • Investment Associate

    2018 - 2018
    ForPurposeCo
    • Built a full three-way forecast model to assess profitability and cash generation of a fresh orange juice vending machine business which allowed the charity to raise funds for the company which now operates around 40 vending machines in the Sydney area.
    • Built from the ground up a full teaser and Information memorandum including break-even analysis, market research, cash flow projection, and presentation of strengths of the business.
    • Advised the company's CEO and board of directors and modeled different negotiation strategies and capital structures to raise funds from private investors (with a mix of debt and equity).
    • Conducted market research on food-related technologies to help the board assess the potential of new projects in the pipeline.
    • Managed the relationships with lawyers to structure the fundraising from a legal perspective.
    Focus areas: Business Planning, Startup Funding, Startups, Modeling, Investments, Private Equity

  • Investment Associate

    2013 - 2014
    Isatis Capital (formerly BNPP Private Equity)
    • Built a wide range of Excel models including capital raise mechanism, complex cap table and value distribution, multi-scenarios LBO structures, and complex exit proceeds schemes.
    • Assisted investment directors in negotiations and deal execution, liaising with lawyers, due diligence teams, and target company CEOs. Target companies were profitable companies generating between $10 to $70 million in revenue.
    • Executed extensive market searches and competitive landscape anlayisis to assess the potential of investment targets in industries such as food delivery, manufacturing, onsite marketing, datacenter, and development technologies.
    • Authored an investment memorandum including market overview, comparable analyses, profitability assessment, development strategy, valuation, and recommendations for next steps that we presented to the internal investment committee.
    • Managed relationships with CEOs of target companies, leading Q&A, and onsite visits.
    Focus areas: Deal Execution, Valuation, Modeling Cases, Financial Planning & Analysis (FP&A), Investing

Other Experience

  • Why Investors Are Choosing Independent Sponsor Models vs. Traditional PE Funds (Publication)
    https://www.toptal.com/finance/private-equity-consultants/independent-sponsor-model
    For investors fed up with private equity management fees on uncommitted capital, the independent sponsor model might be the answer. Pierre-Alexandre Heurtebize demystifies the growing model, analyzing the pros and cons from the perspective of investors as well as investee companies.
  • How to Prepare a Cash Flow Statement Model That Actually Balances (Publication)
    https://www.toptal.com/finance/cash-flow-consultants/how-to-prepare-cash-flow-statement
    When a cash flow statement model doesn’t balance, it can cause immense frustration and wasted time. The root cause of this problem most commonly resides in models being built with inconsistent and contradictory data sources.

Education

  • MBA in Finance and Business Administration
    2010 - 2014
    Essec Business School - Cergy

Certifications

  • Certification AMF
    NOVEMBER 2019 - PRESENT
    Autorité des Marchés Financiers (Financial Market Authority)
  • Full-stack Data Science
    AUGUST 2019 - PRESENT
    Jedha Bootcamp

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