Turnaround is a process of reorganisation of a company in crisis that aims at rebalancing its economic, financial and equity position.

M&A stands for Merger & Acquisition, i.e. Merger and Acquisition of two or more companies. Merger concerns the participating companies that will lose their legal entity and will be merged into a new company with new capital. Acquisition, on the other hand, concerns the acquiring company that will retain its legal entity.

Leverage, or financial leverage, is the evaluation of the possible use of third party capital (banks or other lenders) to reinvest in order to increase the profitability of the company.