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goetzpartners has been honored 2nd place, in acknowledgement, of its advisory on a challenging transformation project for the ELG Haniel GmbH. For the successful support from concept to delivery of the project, we have been awarded the title "Best of Consulting" in the category "Organization" with a project focus on "Turnaround".
We received the award from the renowned German business magazine "WirtschaftsWoche" for our outstanding performance and project excellence. This is the sixth time that goetzpartners has been among the winners of the prestigious consulting award and selected as one of the best advisory firms in Germany.
One of our biggest success factors was how our integrated service offering of combining management consulting and corporate finance created value for the client. Together with the client, we thus managed an impressive turnaround.
The ELG Haniel GmbH faced strong challenges from slowing markets and aggressive competition, while at the same time the owner evaluated strategic options. Furthermore, the Covid 19 pandemic caused additional challenges to sales and profitability due to a decline in demand. To secure the company's value, our mission included the design of a full-potential business plan and support of successful delivery of the turnaround while finding a buyer for the company.
As part of a project-oriented approach, we combined the creation of a full-potential turnaround plan with transparent project management. Supporting cultural change was one of our key success factors, where we were able to meet the respective needs of all parts of the organization. One of the biggest challenges was implementing the new operating model and managing an ongoing sales process while continuing the day-to-day business.
In the end, by implementing a successful transformation to form a "ONE-ELG", we created a basis for sustainable growth and the use of synergies. The successful (signing) transaction of EUR 357m is further proof of the strength of this project.
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