Moving beyond transactional growth

Indonesian companies are increasingly undertaking strategic initiatives. These transactions are driven by the pursuit of new growth opportunities, capital reallocation and stronger strategic positioning. Companies are seeking partners who can unlock additional value, accelerate expansion and enable broader strategic moves that strengthen the overall business. A well-prepared seller understands that value is not defined only by historical earnings, but by strategic relevance. Companies that can demonstrate strong market positioning, resilient operating models, scalable infrastructure and regional growth potential are more prone to premium valuations. In competitive ASEAN markets, clarity of strategy and credible expansion narratives can significantly influence buyer interest and deal outcomes.

Maximising value through the right buyer and capital strategy

For sellers, achieving optimal value requires more than bringing an asset to market. It involves identifying the right type of buyer whose objectives align with the company’s strengths and future projections.
The right buyer brings more than capital. Strategic acquirers may offer:

• Access to broader regional platforms
• Operational synergies and market expansion opportunities
• Long-term partnership potential
• Enhanced brand and governance credibility.

Similarly, sellers may consider structured transactions involving partial divestments, minority stakes or recapitalisation strategies supported by debt providers. In certain cases, retaining equity alongside new investors allows founders or shareholders to participate in future upside while de-risking their position. A well-designed capital strategy enhances negotiation leverage and broadens the universe of potential investors. Sellers who proactively prepare financial structures, clean up balance sheets and strengthen governance frameworks are better positioned to secure favourable terms.

Enhancing attractiveness through capability positioning and strategic value creation

Modern buyers are increasingly focused on acquiring capabilities rather than simply assets. Sellers who clearly articulate their competitive advantages, whether in technology, supply chain integration, customer relationships or operational efficiency, can significantly enhance perceived value. For example, a company with strong regional distribution capabilities may appeal to international entrants seeking ASEAN market access. A digitally mature business may attract private equity investors aiming to scale technology-driven platforms. By presenting a compelling equity story supported by operational readiness and scalable systems, sellers can differentiate themselves in a competitive deal environment.

Transaction readiness is not solely about financial statements; it begins with the owner’s willingness. Before engaging advisers or approaching potential buyers, shareholders and founders must be prepared for the implications of a transaction. Owners must be clear about their long-term objectives: without alignment at the shareholder level, even well-structured transactions can stall. When owners are mentally and strategically prepared to evolve the business - embracing new partners, governance standards and performance expectations - they position the company not merely for a transaction, but for sustainable regional progression and long-term value creation.

How BDO supports sellers in unlocking value

BDO supports Indonesian corporations across the full sell-side M&A lifecycle, from strategic preparation to successful transaction execution.
Our integrated approach includes:

1. Strategic planning, readiness assessment and data room preparation
2. Preliminary valuation assessment and value maximisation strategy
3. Financial vendor due diligence and earnings quality analysis
4. Deal structuring and capital optimisation advisory
5. Buyer identification and investor outreach
6. Transaction negotiation and execution support
7. Separation planning and transition advisory.

As Indonesian corporations navigate increasingly sophisticated M&A landscapes, partnering with an adviser that combines local insight with global reach is critical. BDO’s Deal Advisory practice has recently been recognised as the No. 1 Financial Advisor globally by deal count in the 2025 FactSet league tables and ranked among the top Financial Due Diligence providers internationally. With over 3,000 dedicated professionals in more than 115 countries, BDO’s global network enables structured and targeted outreach to a broad range of investors, including strategic buyers, multinational corporations, sovereign-linked institutions and leading private equity firms worldwide.

Through strong cross-border relationships and dedicated teams, BDO helps connect Indonesian businesses with credible international investors looking to expand into ASEAN, build regional platforms or form long-term growth partnerships. Ultimately, our advisers allow businesses to pursue sustainable growth with the right strategic partner, both regionally and globally. Please reach out to our experts to learn more.