Sale and lease-back
A sale and lease-back is the sale of assets (for example, real estate) that are subsequently leased back. The purpose of this procedure is to increase liquidity.
Sale and Purchase Agreement
A sale and purchase agreement is a contract of sale for either assets or shares.
Schedules are attachments to a contract or report.
The creeping expansion of the project scope due to an increasing number of change requests during the course of the project is called scope creep.
Screening is a systematic selection procedure that serves primarily to determine prioritizing candidates for a company acquisition.
Second Stage Funding
The capital preservation of a company that is in the growth phase is known as second stage funding. It thus follows Early-stage Financing (see also Early-stage Financing).
The seed capital that venture capital companies or business angel start-ups provide in the first phase of a company foundation is called seed capital.
In the context of M&A, sell-side refers to the seller's side and, in capital market transactions, to the issuing investment bank.
The term senior debt refers to borrowed money that a compony must repay first after it goes out of business. Therefore, senior dept takes priority over other forms of debt.
Service level agreement
A service level agreement is an agreement between a service provider and a company about services and remuneration (to be outsourced). The service level agreement plays a role in carve-out (see also Carve-out) and outsourcing (see also Outsourcing).
The share of a company, for example a share, is called a share.
The share deal is a form of company acquisition in which the buyer acquires the shares in the company for sale from the seller. The share deal is therefore in contrast to the asset deal (see also Asset Deal).
Share purchase agreement
A Share Purchase Agreement (short SPA) is a company purchase agreement by way of a share deal (see also Share Deal).
The owner of a share in a company is called a shareholder.
The term shareholder loan describes a debt-like form of financing provided by the shareholders of a company.
Shareholder value refers to an approach that focuses on material value and responsibility for the shareholder (see also Shareholder).
A shareholder's agreement is a supplementary agreement to the articles of association, which regulates commercially sensitive data that is not to be made public.
A shelf company is a company that has never started a business, but was founded only so that it could be acquired later. The basic idea behind this was that it was quicker for founders to buy and rename an existing company than to start a completely new company. However, this proved to be wrong, which is why shelf companies are largely a thing of the past.
A side letter will include those ancillary agreements which are not to be regulated in the main contract.
Signing is the signing of a contract, e.g. a company purchase agreement. However, the contract is only completed in the second step, the closing (see also Closing).
A site visit, for example, which is carried out as part of a due diligence (see also Due Diligence), is called a site visit.
Smart Money is the know-how or network that an investor can bring to bear in the context of a company investment. This is therefore not actually flowing money.
SPA is an abbreviation for a Stock Purchase Agreement and a Share Purchase Agreement (see also Share Purchase Agreement).
Special purpose vehicle
In M&A transactions, a special purpose vehicle (SPV) is a company established for a specific purpose, e.g. to purchase the target company.
The term spin-off means the spin-off of dependent divisions of a company. In contrast to outsourcing (see also Outsourcing), the spun-off part of the company becomes an independent company.
Split-off means, on the one hand, in American usage, the splitting off of a company, whereby the shareholders of the parent company receive the shares of the spun-off subsidiary, on the other hand, the term "split-off" is a synonym for the term "spin-off" in colloquial language (see also Spin-off).
Split-up means the splitting up of a company, especially to compensate a shareholder. This creates companies with different groups of shareholders.
A sponsor is a supporter of a project outside the project.
The difference between two interest rates or two prices is called the spread.
SPV is the abbreviation for Special Purpose Vehicle, which in M&A transactions refers to a company established for a specific purpose, for example to purchase the target company.
Squeeze-out is a term for the compulsory exclusion of minority shareholders.
Stakeholder is a collective term that includes all groups of people who have an economic interest in one of the companies involved in the transaction. These include customers, suppliers and shareholders.
Stakeholder value is an approach that pays special attention to the well-being of employees and the political and social environment when aligning corporate strategy.
Staple Financing is a form of acquisition financing in which the bank commissioned by the seller encloses an offer for financing with the sales prospectus.
A start-up is a growth-oriented newly founded company that is in the start-up phase.
The term steering committee in project management refers to the higher-level decision-making body for an individual project or group of projects (e.g. M&A project)
A step-up refers to an increase in the carrying amount of an asset to provide additional depreciation opportunities. A step-up is usually carried out in an asset deal because the purchase price paid exceeds the book value of the company and the buyer can increase the assets up to the amount of the partial values for tax purposes.
A silent partnership is an investment that is not entered in the commercial register.
A strategic investment is an acquisition of a company where a strategy is pursued, such as the takeover of a competitor, in order to reduce costs and improve the market position.
A strategic investor is an investor who is usually operationally active and who pursues not only financial, but primarily strategic goals with his investments in companies.
A success fee in M&A is a commission paid to the transaction consultant when the closing is reached.
The term sweet equity refers to the acquisition of equity in a company on preferential terms.