Corporate Finance

Year End Review 2012

The most important national, international and cross-border transactions that goetzpartners accompanied in 2012, including this selected case studies: Case Study – Marquard Media: goetzpartners advised on the sale of German premium magazines COSMOPOLITAN, JOY and SHAPE to Heinrich Bauer Verlag. more

The most important national, international and cross-border transactions that goetzpartners accompanied in 2012, including this selected case studies:

  • Case Study – Marquard Media: goetzpartners advised on the sale of German premium magazines COSMOPOLITAN, JOY and SHAPE to Heinrich Bauer Verlag
  • Case Study – Nokia Siemens Networks: goetzpartners advised Nokia Siemens Network on the sale of its business support systems and optical networks business to Redknee and Marlin Equity Partners
  • Case Study – Georg Fischer: goetzpartners advised Georg Fischer on the sale of its aluminum sand-casting business, including two foundries, to MWS Group
  • Case Study – Enovos International: goetzpartners advised on the disposal of ArcelorMittal’s minority stake in utility company Enovos to AXA Private Equity
  • Case Study – Voyages Loisirs: goetzpartners advised France Loisirs on the sale of a 51% stake in Voyages Loisirs to Odalys Group
  • Case Study – Petroplus: goetzpartners advised on the sale of the insolvent German assets of Petroplus to Gunvor Group
 
Organisation & Change

Management Cockpit

Reliable controlling information is an essential requirement for the effective and efficient management of enterprises. In times of increasing complexity and rising volumes of data, controlling data must be extracted and an integrated control model built from it. Such a controlling model can only be developed top-down and subsequently rolled out – in conformity with management stipulations and with regard to best practices. more

  1. Reliable controlling information is an essential requirement for the effective and efficient management of enterprises 
  2. In times of increasing complexity and rising volumes of data, controlling data must be extracted and an integrated control model built from it
  3. Such a controlling model can only be developed top-down and subsequently rolled out – in conformity with management stipulations and with regard to best practices
  4. A management cockpit based on the control model must be pragmatic and user-friendly – new technologies offer new possibilities
  5. Rigorously and consistently constructed and implemented, the goetzpartners Management Cockpit represents an ideal tool for the management of enterprises
 
Restructuring & Post Merger Integration

Integrating universes

Value creation by inorganic growth: In mature markets inorganic growth enables firms to create additional value. To capture this identified value, a successful integration (PMI) is key. But: PMI is like integrating universes – a huge challenge. Before capturing the value of inorganic growth multiple challenges within the PMI process have to be mastered. more

Value creation by inorganic growth:

In mature markets inorganic growth enables firms to create additional value. To capture this identified value, a successful integration (PMI) is key.

But: PMI is like integrating universes – a huge challenge. Before capturing the value of inorganic growth multiple challenges within the PMI process have to be mastered.

Key challenges of a PMI:

  • PMI is one of the most complex phases in the lifetime of an organization
  • Familiar rules and procedures in the two existing organizations have to be revised
  • Mindsets have to be changed and goals have to be redefined to find common ground

The real challenge is that the situation within an integration changes over time. So, how does one navigate through this galaxy?

 
Corporate Finance

Year End Review 2011

After a strong start the first half of 2011, the M&A market has been negatively influenced by the uncertainty of the Eurozone recovery programs and the related financing crunch in the second half of the year. Although many companies especially in Germany have shown record sales and earnings in 2010 and 2011, buyers doubted the sustainability. more

After a strong start the first half of 2011, the M&A market has been negatively influenced by the uncertainty of the Eurozone recovery programs and the related financing crunch in the second half of the year. Although many companies especially in Germany have shown record sales and earnings in 2010 and 2011, buyers doubted the sustainability. The banks' reluctance in providing acquisition finance has also led to a number of shelved transaction processes and broken deals in the last quarter of the year 2011.

Despite these challenges we are glad to have been able to successfully finalise more than 22 transactions in 2011. This shows that in such difficult markets the preparation of transactions is of essential importance. Therefore, together with our colleagues from our management consulting practice we have developed a “transaction readiness assessment tool”. In the assessment, business, legal, valuation issues and potential deal breakers are identified by taking the current requirements of the relevant buyers universe and financing banks into account.

 

The rising wealth of the BRIC countries (approx. 1.4 bn people entering the middle class between 2000 and 2020), in particular China, is challenging the consumer goods value chain along two dimensions: (1) rising demand (for consumer goods) hits limited supply of raw materials and (2) formerly established value chain relationships are being redesigned without any rules. more

The rising wealth of the BRIC countries (approx. 1.4 bn people entering the middle class between 2000 and 2020), in particular China, is challenging the consumer goods value chain along two dimensions: (1) rising demand (for consumer goods) hits limited supply of raw materials and (2) formerly established value chain relationships are being redesigned without any rules

  • Many raw materials have become strategic and a bottleneck. Rising prices and volatiles put pressure on (supplier) margins and question existing business models
  • Consolidated supplier industries regain strategic negotiation power, driven by additional/new demand from formerly untapped BRIC countries without established (quality) supply chain
  • Formerly export driven BRIC capacities are being redirected to satisfy domestic demand
 
Corporate Finance

Year End Review 2010

This Year End Review provides a summary of our M&A activities in 2010. Despite the recovery of the overall economic situation, strong exports and the boom in the BRIC countries, the European M&A market was still characterized by insecurity and low volumes. For 2011, we are forecasting a significant increase in demand for companies - by trade buyers as well as financial investors. more

This Year End Review provides a summary of our M&A activities in 2010. Despite the recovery of the overall economic situation, strong exports and the boom in the BRIC countries, the European M&A market was still characterized by insecurity and low volumes. For 2011, we are forecasting a significant increase in demand for companies - by trade buyers as well as financial investors. These are ideal conditions for the sale of a business. The boom in emerging markets is also trickling over to the M&A sector. We foresee strong acquisition interest from the BRIC countries in 2011 and expect significant closings in ongoing processes with companies from these countries.

 

The days when living rooms accommodated a host of different media equipment items will soon be over: consumers have long wanted multimedia centers for the living room that are genuine all-rounders. In technical terms, this is increasingly taking shape, driven by the advancing convergence of television and Internet. more

The days when living rooms accommodated a host of different media equipment
items will soon be over: consumers have long wanted multimedia centers for the
living room that are genuine all-rounders. In technical terms, this is increasingly
taking shape, driven by the advancing convergence of television and Internet.
Various media devices already offer the potential to become home control centers. In this respect, hybrid television sets hold the best prospects.

From the consumer‘s perspective – preferably all in one

But: From the manufacturer‘s perspective – what does this all mean for the future?

 
Corporate Finance

Year End Review 2009

2009 was a challenging year: the financial crisis developed into a global economic breakdown and M&A deal markets almost closed. Despite a tough start, the year nevertheless turned out to be excellent for goetzpartners, who advised on some exceptional transactions. more

2009 was a challenging year: the financial crisis developed into a global economic breakdown and M&A deal markets almost closed. Despite a tough start, the year nevertheless turned out to be excellent for goetzpartners, who advised on some exceptional transactions.

One consequence of the disruption in the corporate finance industry was that exceptional talent became available. We seized the opportunity to leverage on this by increasing our professional staff significantly from 55 to over 70. This will enable us to strengthen our industry groups together with our debt and capital market capabilities and fully meet the requirements of the current market environment in which structuring and financing of deals demand more in-depth expertise, dedication and time.

We believe in the strength and values of our international network and can proudly announce the full integration in 2009 of our long time partner in Russia - ACP - into the group as goetzpartners Russia. Headed by the ACP founders, Vladimir Matias and Jan-Hendrik Röver, the team of 10 experienced corporate finance professionals bring in an impressive track record and network in Russia/CIS countries and will serve as a bridge for cross-border transactions in this region.

Consolidation of sectors via mergers and acquisitions offers growth and profitability paths for companies following a long-term strategy and will play an important role to overcoming the crisis. We have a strong project pipeline and foresee interesting transaction opportunities in 2010, which promises a revival of the M&A activity. We are convinced that the window for well-prepared exits has opened again, even for difficult industry sectors such as automotive and media. We look forward to working closely with

 
Corporate Finance

Year End Review 2008

In spite of the difficult market environment, especially in the second half of 2008, goetzpartners CORPORATE FINANCE experienced another consecutive year of success with over 20 transactions closed in Europe. We advised on transactions in 8 countries, with all of our international offices contributing, especially the many projects being joint efforts. more

In spite of the difficult market environment, especially in the second half of 2008, goetzpartners experienced another consecutive year of success with over 20 transactions closed in Europe. We advised on transactions in 8 countries, with all of our international offices contributing, especially the many projects being joint efforts. Our corporate finance team has increased to 55 professionals, indicative of the organisation‘s growing strength. Besides Media and Telecom, Automotive, Retail and Consumer Goods were our most active sectors. The highlights of this year include:

  • goetzpartners advised REWE Group on its acquisition of the remaining 50% of the Joint Venture with Otto in Fegro-Selgros
  • goetzpartners advised Georg Fischer AG on the sale of its subsidiary Verkehrstechnik to SAF Holland
  • goetzpartners advised Versatel AG on the acquisition of AKF Telekabel
  • goetzpartners advised Wendel on the sale of Editis to Planeta
  • goetzpartners advised Communicorp Group on the acquisition of Irish radio stations from Emap plc
 
Corporate Finance

Year End Review 2007

With over 20 transactions closed in 2007 in Europe, goetzpartners experienced its most successful year ever. We advised on transactions in eleven countries, with each of our six international offices contributing and many projects being joint efforts. In Mumbai and Bangalore we started a new partnership with Avendus Advisors to better serve the emerging Indian Market. more

With over 20 transactions closed in 2007 in Europe, goetzpartners experienced its most successful year ever. We advised on transactions in eleven countries, with all of our six international offices contributing, and many projects being joint efforts. In Mumbai and Bangalore, we started a new partnership with Avendus Advisors to better serve the emerging Indian market. The highlights of the year include:

  • Advising Télédiffusion de France (TDF), a leading terrestrial broadcast service operator in Europe, on the aquisition of T-Systems Media&Broadcast, a subsidiary of Deutsche Telekom AG
  • Advising Ringier, a publishing group based in Switzerland, on the sale of its paid programme press assets in Eastern Europe to Heinrich Bauer Verlag and in Switzerland to Jean Frey / Axel Springer
  • Advising WOCO Group and Michelin on the sale of their anti-vibration subsidiary WMAVS to German private equity house Arques Industries
  • Advising the founding shareholders of one of the leading portfolio and risk management software providers in the world, Sophis, on the sale of a majority stake to Advent International