为什么物流并购看重合同质量？
中国仓储、3PL、冷链、电商履约、货代和运输企业收入规模可能很大，但利润率和现金流差异明显。买方需要拆分长期合同、短期订单、转运收入和增值服务收入。
估值重点
估值应关注客户合同、仓库租约、资产利用率、毛利率、应收账款、安全记录、IT系统和营运资金。
尽职调查重点
尽调应覆盖客户合同、仓库租约、车辆、保险、安全事故、税务、员工、IT系统和关联交易。
卖方准备
卖方应准备客户合同、仓库租约、车辆清单、应收账款账龄、安全记录、系统说明和营运资金分析。
Lyndon如何协助
Lyndon可协助中国物流企业、买方和顾问准备估值、资料室、风险清单和交易执行。
About the Author
Daniel Bae
Co-founder & CEO, Lyndon Advisory
Daniel is an investment banker with 15+ years of experience in M&A, having advised on deals worth over US$30 billion. His career spans Citi, Moelis, Nomura, and ANZ across London, Hong Kong, and Sydney. He holds a combined Commerce/Law degree from the University of New South Wales. Daniel founded Lyndon Advisory to solve the pain points in M&A, enabling bankers to focus on what matters most — delivering trusted advice to clients.
About Lyndon Advisory
Lyndon Advisory is an M&A advisory firm built for Asia Pacific. We help business owners sell their companies and investors make strategic acquisitions with senior-led execution, disciplined process management, and AI-supported buyer intelligence.
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