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Industrial Company Valuation: What Are Your Machinery and Factory Really Worth?

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Company Valuation: Debt, Cash Flow and Value Creation for Manufacturers

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Home

About Us

Track Record

Services

M&A Advisory Services

IPO Advisory Services

US Expansion Advisory

Due Diligence Services

CFO Services

Blog

Contact

SERVICES

/

IPO ADVISORY SERVICES

IPO Advisory Services

IPO readiness and execution support, including financial structure, governance, and investor positioning.

SERVICES

/

IPO ADVISORY SERVICES

IPO Advisory Services

IPO readiness and execution support, including financial structure, governance, and investor positioning.

SERVICES

/

IPO ADVISORY SERVICES

IPO Advisory Services

IPO readiness and execution support, including financial structure, governance, and investor positioning.

Our Approach

IPO Advisory in Türkiye and the United States

Lev Partners advises companies preparing to go public in Türkiye or the United States. We support management from readiness assessment and financial preparation through transaction coordination and the transition to public-company reporting. Our work brings together valuation, financial modelling, corporate governance and a clear investment case.

For a listing on Borsa Istanbul, we help companies assess readiness, organize financial and corporate information, develop their equity story and coordinate the preparation process with authorized intermediary institutions, independent auditors and legal advisers.

For U.S. public markets, we help evaluate three principal routes against the company’s funding needs, ownership objectives and readiness:

Traditional IPO — An underwritten public offering of shares. Preparation includes financial reporting, valuation, offering materials and investor communication, in coordination with investment banks, auditors and legal counsel.

Direct Listing — Admission of shares to trading without a traditional underwritten IPO. Depending on the structure and applicable exchange rules, a direct listing may involve existing shares or a primary capital raise. Eligibility, liquidity and investor demand require careful assessment.

SPAC / de-SPAC — A business combination with a publicly listed special purpose acquisition company. We support financial preparation, valuation analysis and adviser coordination, including assessment of sponsor terms, shareholder redemptions, funding needs and potential dilution.

The appropriate market and route depend on company-specific requirements and market conditions. We coordinate preparation with the relevant specialists; regulatory approvals and listing decisions remain with the competent authorities and exchanges.

Scope of Services

IPO Readiness & Diagnostic Review

Review strategic objectives, funding needs and alternatives to a listing

  • Assess financial reporting, forecasts and management information

  • Identify governance and internal control gaps with specialist advisors

  • Evaluate the investment case and proposed use of proceeds

  • Prioritize actions, responsibilities and decision points

Outcome:

A clear basis for deciding whether, when and how to proceed with IPO preparation.

Financial Preparation & Reporting Enhancement

Objective:

Strengthen the reliability and consistency of the financial information used in IPO preparation.

Review historical financial information and reporting policies with the accounting team

  • Analyze revenue, margins, working capital and cash generation

  • Assess forecast assumptions and prepare financial scenarios

  • Coordinate audit preparation and information requests with independent auditors

  • Develop management KPIs and investor reporting formats

Deliverables:

Financial reporting improvement plan

  • Financial model, assumptions summary and reporting package

Outcome:

More consistent financial information and a defined plan to address reporting gaps before the transaction.

Corporate Governance & Public Company Framework

Objective:

Prepare governance responsibilities, controls and policies for the demands of a public company.

Review board responsibilities and committee needs with relevant advisors

  • Assess decision authorities, internal controls and risk reporting

  • Coordinate preparation of disclosure, ethics and information-handling policies

  • Identify sustainability reporting requirements relevant to the intended market

  • Assign responsibilities for implementing governance improvements

Deliverables:

Governance gap assessment

  • Policy priorities and responsibility matrix

Outcome:

Clearer accountability and an implementation plan aligned with the intended listing market.

Valuation & Equity Story Development

Objective:

Translate business performance and growth plans into an evidence-based investment case.

Analyze valuation using relevant cash-flow and market approaches

  • Review comparable companies and transactions

  • Test sensitivities to growth, margins and capital requirements

  • Develop the investment thesis, risk discussion and use-of-proceeds narrative

  • Prepare investor presentations and management discussion materials

Deliverables:

Valuation analysis and sensitivity scenarios

  • Investment case and investor presentation

Outcome:

A coherent investment case supported by financial analysis, with the assumptions and risks made explicit.

Transaction Structuring & Advisor Coordination

Objective:

Organize the proposed offering structure and coordinate the workstreams required to prepare the transaction.

Evaluate primary issuance, shareholder sales or a combination with relevant advisors

  • Assess capital requirements, shareholder objectives and proposed use of funds

  • Coordinate financial, legal, audit and investment-banking workstreams

  • Maintain the timetable, information requests and outstanding issues

  • Track dependencies and matters requiring management decisions

Deliverables:

Offering structure options and transaction timetable

  • Advisor responsibility matrix and issue tracker

Outcome:

A coordinated preparation process with clear responsibilities and decision points.

Investor Relations & Market Communication Readiness

Objective:

Prepare management to communicate the business consistently and respond to investor questions.

Define investor relations responsibilities and communication processes

  • Align financial and strategic messages across materials

  • Prepare investor questions, supporting data and management responses

  • Rehearse management presentations and roadshow discussions

  • Coordinate disclosure policies and communication requirements with legal advisors

Deliverables:

Investor communication plan and Q&A brief

  • Management presentation and rehearsal feedback

Outcome:

A management team better prepared for clear, consistent and well-supported investor dialogue.

Post-IPO Transition Support (Optional)

Objective:

Support the transition to recurring public-company reporting and financial management under a separately agreed scope.

Establish reporting priorities and responsibilities for the first year

  • Support periodic financial reporting and management reviews

  • Coordinate financial and sustainability disclosure inputs with specialist advisors

  • Support CFO and investor relations teams as reporting routines develop

  • Track agreed actions and outstanding information needs

Deliverables:

First-year reporting calendar and transition action plan

  • Management and investor relations reporting framework

Outcome:

A more structured transition to the ongoing responsibilities of a public company.

Leadership

John Smith

Board Advisor

Atilla ESEN
John Smith

Board Advisor

Atilla ESEN
Atilla Esen

Board Advisor

Atilla ESEN
Erim N. KARGACI

Founding Partner, Head of M&A

Erim N. KARGACI
Erim N. KARGACI

Founding Partner, Head of M&A

Erim N. KARGACI

Let’s discuss your next step

Discuss your public-market ambitions with our team. We can help assess your company’s readiness, compare potential listing routes and define the preparation required for your next step.

Start a Confidential Conversation
Start a Confidential Conversation