Search profile
Size, region, margin profile, customer base, dependencies. The sharper the profile, the faster you can drop candidates that only work on paper.
- ›Separate must-haves from nice-to-haves
- ›Define exclusions
- ›Test integration capacity
M&A
Company acquisition
Acquisitions rarely fail on price and often on selection. We sharpen the search profile before approaching the market.
A good acquisition starts with an uncomfortable question: what exactly should the target deliver — revenue, technology, people, regions, margin? The answer produces a search profile that allows you to say no. Without it, you buy whatever is currently for sale.
We approach targets even when they are not for sale. A large share of the interesting conversations happens there — discreetly, through personal contacts, without process pressure.
Funding is structured alongside the review. Talking to banks only after the term sheet costs time and negotiating room.
Makes sense when
- organic growth is too slow
- capabilities or regions are missing
- a buy-and-build strategy is being executed
- a competitor faces succession
Key facts
- Timeline
- 4–10 months
- Approach
- including off-market
- Funding
- structured in parallel
- Review
- Financial, legal, tax, commercial
Building blocks
From profile to takeover
Discreet approach
Off-market outreach through personal contacts. No mass mailings, no process mechanics — often the only route to companies that are not officially in the market.
- ›Personal first contact
- ›No sales pressure
- ›Confidentiality from the start
Valuation and structure
Multiple, DCF, bridge from enterprise value to purchase price. Earn-outs, vendor loans and rollovers bridge price gaps — they are not a way to hide risk.
- ›Net debt and working capital
- ›Define earn-outs precisely
- ›Keep the seller in the risk
Acquisition finance
Bank, debt fund, mezzanine or equity — depending on cash flow and security. We structure funding alongside the review so signing does not depend on it.
- ›Test the structure early
- ›Negotiate realistic covenants
- ›Align the bank timetable
Process
The acquisition process
- Schritt 01
Strategy and profile
What the acquisition should deliver and which candidates qualify at all.
- Schritt 02
Longlist
Market screening plus candidates from our own network.
- Schritt 03
Approach
Discreet contact, confidentiality, first conversations.
- Schritt 04
Indicative offer
Valuation range, structure, conditions based on verified key figures.
- Schritt 05
Due diligence
Financial, legal, tax, plus commercial and technical where needed.
- Schritt 06
Negotiation and closing
Purchase agreement, warranties, funding, completion.
From live mandates
Two observations
The most expensive deal is the wrong one
A low price does not rescue an integration that does not work. We test early whether leadership, systems and culture fit.
Funding considered too late
Negotiating without a solid funding commitment loses against bidders who can deliver. Structure and bank talks run in parallel with us.
Questions
Frequently asked questions
Approach acquisitions properly
We sharpen the search profile, approach candidates discreetly and structure the funding in parallel.