We assist corporates, family businesses and investors in executing complex corporate finance transactions.
Our team provides independent and hands-on advice in transformational transactions. Based on our analytical approach, a global network, and execution-focused mindset, we support our clients in achieving their strategic goals. From acquisitions to succession transactions and complex carve-outs, we cover the entire M&A spectrum. Every client receives our undivided focus and full commitment.
1.
Preparation
2.
Investor approach
We identify and engage suitable investors, managing a competitive, international bidding process to maximize value. We maintain flexibility to consistently achieve the best results for our clients.
3.
Due diligence
An efficient and thorough due diligence process is essential for investor trust and a successful transaction. Our hands-on due diligence approach frees critical resources and accelerates the process.
4.
Execution
We coordinate and manage all parties and advisors involved. We support in the final negotiations and provide essential advice to get transactions past the finish line.
M&A References
Transaction types
Divestitures & acquisitions
Divestitures and acquisitions are the core of our business, encompassing the sale and purchase of companies, subsidiaries, business units, or assets. Given the complexity and time-consuming nature of such transactions, a structured M&A process is the most effective approach to ensure a successful outcome.
A sell-side M&A process consists of multiple stages, including process preparation, investor approach, due diligence and the final signing of the transaction. Key success factor of a sell-side process is a diligent preparation of the target, deliverables, and the process design. A buy-side transaction refers to the process in which a company or investor seeks to acquire another business or assets. The objective is typically to expand market presence, gain operational efficiencies, diversify product offerings, or achieve strategic growth.
Corporate carve-outs
A corporate carve-out occurs when a company separates a portion of its business – such as a subsidiary, division, or specific assets – from the larger organization, forming a distinct entity. While this newly carved-out business operates independently, it may still maintain connections with the parent company. The carve-out process can take place either beforehand or during an M&A transaction.
Carve-outs can be structured in various ways, including asset deals, share deals, spin-offs, or joint ventures with new partners. A crucial element in an M&A carve-out process is the development and negotiation of a transitional service agreement (TSA), which ensures continued operational support from the parent company during the transition period.
Companies pursue carve-outs for several strategic, financial, or operational reasons, including:
- Focusing on the core business
- Raising capital
- Unlocking shareholder value
- Ensuring regulatory compliance
Company succession
Business successions are commonly considered as one of the most critical events for any family business. Common objectives within a succession include the preservation of the company for future generations, safeguarding jobs as well as maintaining independence. We consider the preservation of long-term competitiveness of a business to be the overarching strategic pillar of a sustainable succession planning.
A company succession can be realized in different ways. If there is no natural successor for the business, there are various alternative succession models such as a sale to management or to external investors. Early and diligent preparation as well as a conclusive succession plan are crucial to ensure a smooth hand-over in capable new hands. The involvement and participation of management constitutes another important success factor.
There are various transaction types and partners to be considered depending on the type and size of a business, organizational set-up, as well as preferences:
- Sale to management (MBO, MBI)
- Sale to a strategic party, such as direct or indirect competitors
- Sale to a financial investor (LBO)
- Sale to a family office
Mergers
A merger occurs when two companies combine to form a single entity, typically to gain market share, improve efficiency, or enhance competitiveness. The most common type is a horizontal merger, in which two businesses within the same industry – typically competitors – join forces. Other forms include the vertical combination of two businesses that operate on different stages of a supply chain.
Small and medium sized enterprises (SME) encounter specific challenges and opportunities in mergers. Their agility allows for faster decision-making and potentially smoother integration processes. However, limited financial resources make mergers particularly risky. Furthermore, SMEs must navigate mergers with careful consideration of their brand identities and customer relationships. The success of a merger in the SME segment strongly depends on maintaining core values while seeking synergies with the merging partner.
Valuation opinions
For corporates considering a transaction the value of the business or a business segment is often the starting point for commercial considerations. Thereof, a reliable valuation is crucial.
Valuation opinions for privately held businesses derive the fair value for a generally illiquid asset and must, therefore, be based on a deep private market knowledge and a solid analytical framework. Fairness opinions determine the enterprise value based on various valuation methods, as well as specific market conditions and insights. Key valuation methods include historic transaction multiples, public market multiples, and the discounted cash flow method (DCF).