Pytheas

General information

What type of advising does Pytheas do?
We are a top management advisory firm that helps its corporate, nonprofit and government organization clients to achieve lasting and substantial improvements in performance. We concentrate on matters of concern to top management.

We do not offer any of the following types of services: auditing or political advice.

Can you describe your work for clients in practical terms?
For each project, we put together a team of specialists who work full-time for the client for the duration of the project. The team is led by an engagement partner, who provides "thought leadership" for the group and is responsible for the day-to-day planning and distribution of tasks.

We usually include the client's managers on our teams, often working side-by-side with them in doing detailed analytical work. This helps ensure their commitment to the team's recommendations, as well as building their own skills and knowledge for the benefit of the entire organization.

To clarify and focus our thinking, we regularly step back from the detailed analysis and think about its implications. This allows us to report back to the client in regular (often weekly) progress reports and bring up issues requiring senior client input.

What kind of expertise do Pytheas consultants bring to specific engagements?
The expertise we contribute to a project includes (a) the general problem solving skills our specialists apply in an engagement, (b) the industry specific experience/knowledge with which we supplement our analyses and (c) the knowledge of the cultural and regulatory complexities of each geographic region and market we work in.

We believe our unique, analytical approach to problem solving is the core asset we bring to our clients. In practice, these skills may, for example, involve our ability to handle complex financial modeling, to assess the economic value of a specific market strategy, or to structure a complex business problem into a series of simple, actionable alternatives. In order to build these world-class skills we seek to attract people who excel at problem solving and we invest a great amount of resources in developing analytical tools and frameworks that we then apply in our client work.

Deep knowledge and an understanding of a specific sector by the Pytheas team are crucial to the full success of the study. Pytheas provides this knowledge via a group of senior consultants/industry experts who possess extensive experience in relevant fields and participate in the study full time, as team leaders, or on a part-time basis. Moreover, every Pytheas professional can draw on a vast knowledge network of consultants and information across the firm to further leverage the work of their teams.

What criteria does Pytheas use when accepting engagements?
Before accepting an assignment, we make every reasonable effort to ensure that, first, there are opportunities for significant benefits to the client, and second, that the objectives are attainable.

As a rule of thumb, we only accept studies where the potential benefit to the client is several times the amount of our fee. However, since it is not always possible to determine in advance that such conditions do in fact exist, we agree that if at any time the client decides that the expected benefits are not likely to be achieved, he/she is free to terminate the relationship. Likewise, we want to be free to withdraw from an assignment should circumstances arise which, in our judgment, make the objectives agreed upon unattainable.

What do you want to see in a résumé?
Summarize your qualifications in a one to two page résumé, using the format outlined below. For example, refer to the sample résumé we have provided below.

Education: Beginning with your most recent experience, list schools attended and the time period spent at each. Next to each school, indicate major subject of study, degrees earned (or expected), grade point average, and any special honors or recognition received. Include transcripts.

Employment history: Beginning with your most recent experience, list organizations you have worked for and your title at each. Very briefly explain your duties, focusing on special accomplishments or results of your work.

Other activities and special skills (optional): Briefly list and describe any other skills, activities, or experience that you feel would tell us something important about yourself.

Languages spoken: List languages spoken and written, including your level of proficiency on a scale of 1-5 (1 - beginner, 2 - intermediate, 3 - advanced, 4 - fluent, 5 - native speaker).

Is there anything else I should send?
Yes. We would like to hear what interests you about a career in consulting. Attach a cover letter in English explaining your interest in the job and how your qualifications relate to our needs.

What is the process like?
The following are the steps in a recruiting process:

Application. Send us your résumé in English, with a cover letter specifying the position you are applying for and explaining your abilities, experience, and motivation.

Resume screening. Your résumé is reviewed by a number of people (typically one person from administration and one senior person in a role for which you are applying).

Interviews. The interview process for each position consists of several rounds. Typically, all candidates in the first round are presented with cases, where your tasks are to analyze the issues and suggest the most suitable solution. Also, one person from the recruiting group reviews your résumé with you to verify the data and fill in any missing information. If the outcome of the first round is successful, you will be invited to a next round. The second round typically consists of three to five interviews, each lasting about 30 to 45 minutes. Potential colleagues and several senior advisors conduct this round of interviews. A team decision is made on the overall evaluation of your meetings.

Offer. The best candidate is offered a competitive compensation and benefits package, and a date will be mutually agreed to begin training for the position.

How many hours will I work a week?
There is no typical week at Pytheas. There may occasionally be some weekend work but you can usually manage your time to avoid this. Your weekly hours will vary according to the work or engagement you are involved in and teams normally discuss working patterns at the start of an engagement to take into account individual needs and manage 'crunches'.

How much time will I spend away from home?
By working on site with our clients, we can do a much better job of understanding their situation. Given the diversity of clients we serve, about a third of our engagements take place 'out of town/country' and in such cases, advisors typically spend three nights away from home per week. However, all teams are encouraged to spend Fridays at "home" and there could be opportunities for you to voice preferences for projects closer to home.

Can you send me a brochure?
We do not have a brochure. If, on reading this site, you do not find the answers to your questions, please contact a member of our recruiting team.

Corporate Finance

BUSINESS OWNERS

Do you have buyers for my business?
We have relationships with a large number of financial and strategic buyers. We also have the ability, through our research capabilities, to identify key strategic buyer candidates

What is my business worth?
The value of your business will be its value in the eyes of a buyer. Generally, buyers will look to earn a targeted return on their investment. We will advise you on this question at the beginning of the project.

What is the selling process?
The process involves preparing your business, developing documentation, conducting research and searching for buyers, exchange of information, negotiating & structuring a transaction, due diligence and closing. We will manage the entire process.

How long will it take?
Every transaction is different. We will generally suggest a guideline of 9 - 12 months, but will need to address your situation specifically.

Can I keep it confidential?
In most cases, sellers will want to conduct the process in an extremely confidential way. We understand this need and can advise you on how best to achieve your particular goals.

Should I sign an Exclusive Advisory Agreement?
Our experience indicates that the best results are obtained when we work together as a team. To do this, we need to be your close, exclusive advisor. As such, we will work alongside your attorney and auditor to ensure the best outcome for you.

What will it cost?
For businesses with a value of more than $10 million, the fees and expenses of selling the business will generally run between 4% - 6% of the value of the business. We will prepare an estimate of these costs at the beginning of our project.

What do your services include?
We can do the searching and finding, initial site visits and reports, information collection, negotiation, and due diligence coordination. We can be your representatives on site.

Can you conduct searches?
We have an extensive network and presence throughout the emerging markets we deal in.

Can you assist us in the completion of industry consolidations and roll-ups?
We can staff a team of talented, experienced professionals to assist you at any level of acquisition strategy. We can work with, or even become, your M&A Department.

Who will be my contact person?
One of our partners will be actively engaged on the assignment from start to finish. We will work with you to consider industry knowledge and experience, as well as location, in the staffing of your project.

The standard finder's fee is based on the Lehman Formula, of 6% under $1 million, 5% on 1st million, 4% on second, 3% on third, 2% on fourth and 1% thereafter.

Private Placement Fees done my Pytheas dealers will usually cost 10% of the offering, plus expenses. IPOs generally have an 8% fee paid in stock of the initial IPO to the underwriters as an incentive fee for floating the issue. In general, debt and other financing instruments are billed at one half the above rates and act like points.

M&A fees or small business sales fees can range from 3% to 10% depending on whether the company is acting as a finder or broker. Broker fees are higher because they are involved in the negotiations and have higher risk.