M&A
Advisory

Transactions need a secure foundation. Crucial to both buyers and sellers: taking prompt, targeted action and having a direct line to decision makers.

IDENTIFY, CONTACT,
BUY

With over 200 international sell-side and buy-side transactions totalling in excess of 25 billion euros, goetzpartners is one of the most successful mid-market M&A firms. We leverage our sector expertise, network of contacts and many years of M&A experience into creating value for buy-side stakeholders. Alongside carving out the best possible position for buyers in the transaction process, goetzpartners services include efficient process execution, strategic valuation analysis, advice on financing, and support and coordination through the entire buy-side process.

Our expertise for buy-side transactions:

  • Strong market and industry expertise, including deep-dive market analysis
  • Identification of suitable target companies as per investment criteria
  • Development of a targeted communication and positioning strategy
  • Advice on carve-out transactions, also international transactions
  • Support with coordination of due diligence providers, with preparation of business plans and company valuations
  • Advice on acquisition and refinancing, including modeling

 

Our sector expertise

GAIN THE
OPTIMUM

goetzpartners represents the interests of companies from all key industries all over the world. With over twenty years of experience, we think like entrepreneurs and have direct access to the decision makers that matter – all this and more forms the basis for our extraordinary success. goetzpartners has talented people with years of expertise in every element of the process – from bilateral talks to vendor-optimized auctioning. The outcome: we can provide our clients with definite advantage in sell-side transactions that serve to optimize value or ensure long-term security, even in challenging situations.

Our expertise for sell-side transactions:

  • Best possible tactical preparation and execution of the sales process
  • Prompt preparation of documents and coordination of vendor due diligence advisers
  • In-depth sector expertise ensures potential buyers are identified quickly
  • Wide range of investors can be approached owing to international presence and strong network of contacts
  • Optimization of financial and structural terms of sale
  • Extensive expertise in carve-outs, especially for complex, international structures
  • goetzpartners approaches potential financial backers though “lender education” and obtains term sheets

 

Our sector expertise

PERFECT
MATCHMAKING

goetzpartners has many years of experience in preparing, initiating and executing mergers and Joint Ventures. We know how stakeholders need to design the strategy, business model and organization of their JV in order to derive maximum value. Our customers have an experienced partner at their side to navigate and resolve the challenging issues of governance, leadership and risk. Each joint venture has to be crafted such that the objectives of its stakeholders are met. This takes relevant technical expertise – but also familiarity with the sector in which the venture will be operating.

Our expertise for Joint Ventures:

  • Independent advisory for all types of planned Joint Ventures
  • Joint Ventures initiation and execution
  • Performance-optimized design of each Joint Ventures
  • Specialist knowledge in all key areas, including valuation, advice on corporate governance and structuring  

Our sector expertise

»

goetzpartners’ team has been pivotal to structure the operation and assist us in negotiating our partnership while following the right momentum. Throughout the process, goetzpartners has demonstrated outstanding commitment to the transaction and to the company’s interests.

«

Frédéric Bedin
Chairman of the Executive Board
HOPSCOTCH Groupe

Latest Transactions

goetzpartners' Private Equity consulting team advised univativ Group (“univativ”), a Triton Smaller Mid-Cap Fund (“TSM”) company and a leading German provider of specialized personnel services, with a Commercial Due Diligence on the acquisition of a majority stake in OPUS ONE Recruitment GmbH (“OPUS ONE” or “the Company”), a specialized personnel service provider for qualified commercial white collar graduates, young and senior professionals.
The Commercial Due Diligence included a comprehensive assessment of OPUS ONE’s business. In addition, goetzpartners built an in-depth market model to determine the size of addressed market segments and to evaluate future growth potentials. Furthermore, goetzpartners evaluated OPUS ONE’s strategic fit with univativ including potential synergies and regional growth opportunities.
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goetzpartners' Private Equity Consulting Team advised Triton Smaller Mid-Cap Fund (“TSM”) with a Commercial Due Diligence on the acquisition of a majority stake in LAMINA TECHNOLOGIES SA (“Lamina”), a technology leader and pioneer in manufacturing multi-material (Multi-Mat) carbide cutting tools for SME across different industries. Terms of the acquisition were not disclosed.

The Commercial Due Diligence included a comprehensive assessment of Lamina’s business model with a focus on the unique Multi-Mat technology and the sustainability of its customer relationships. In addition, goetzpartners built an in-depth market model to determine the size of the company’s addressed niche and to evaluate future growth drivers. The Commercial Due Diligence also included a detailed analysis of Lamina’s competitive positioning. Ultimately, the results were used to assess the management's business plan and to evaluate further value creation opportunities.

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goetzpartners' Private Equity Consulting team supported IHSE management and Brockhaus Private Equity with a Commercial Vendor Due Diligence on the sale of IHSE Group.

The Commercial Vendor Due Diligence included a comprehensive discussion of the company’s product portfolio in the area of real-time and low latency audio-visual data transmission technology. Also, the company's business model was assessed, incl. a detailed analysis of IHSE's routes-to-market and customer structure. A bottom-up market assessment of multiple end-segments in the pro audio-visual industry as well as an evaluation of IHSE's competitive positioning was conducted. Conclusively, the results were used to assess the management's business plan and to evaluate further growth opportunities. 

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EPSA, a European leading player in the operational performance landscape (operations & procurement, tax & innovation, market place), has successfully completed the acquisition of psg procurement services GmbH, a leading German tech-enabled service provider to corporates for operating procurement.

This new stage in EPSA’s corporate history allows the company to integrate a pioneer and market leader for digital procurement services in the DACH, the most mature market in Europe. Through this technological and strategic acquisition, EPSA becomes the undisputed European leader for outsourced purchasing solutions and market place.

goetzpartners acted as exclusive financial advisor to EPSA, backed by Raise Investissement, Initiative & Finance and Capelia, further underlining our proficiency advising corporates for buy-side transactions and capability to execute cross border deals.

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goetzpartners was mandated as exclusive M&A advisor by MERCK on the sale of ALLERGOPHARMA, the allergy business of the Healthcare division of MERCK, to Dermapharm, a leading German manufacturer of patent-free branded drugs. The transaction, which is expected to close by the end of the second quarter 2020, is subject to regulatory approval and satisfaction of other customary closing conditions.

Since 2007, MERCK has made acquisitions and divestments with a volume of around € 40 billion, thereby resolutely transforming itself into a leading science and technology company. By divesting ALLERGOPHARMA, MERCK is further successfully implementing its company strategy, with an even stronger focus of its Healthcare business sector on the development of innovative medicines for the unmet medical needs of patients with difficult-to-treat diseases. The divestment to Dermapharm will sustainably strengthen the business of ALLERGOPHARMA.

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goetzpartners advised the international private equity firms Advent International (“Advent”) and Cinven who together with the RAG-Stiftung (together “the consortium”) acquired thyssenkrupp’s Elevator Technology Business (“thyssenkrupp Elevator”). As part of the transaction, thyssenkrupp AG will reinvest in thyssenkrupp Elevator and will acquire a substantial minority stake, underlining the attractive value creation potential of the business as well as a commitment to Germany and the Group’s employees. This transaction creates an independent global market leader, renowned for innovation and technology. The consortium, with long-standing heritage in Germany, industry expertise, global network and capital resources has established a long-term value creation plan supported by investment in market expansion, product innovation and add-on acquisition opportunities.

“thyssenkrupp Elevator has established itself as an international market leader, with a strong and innovative product portfolio. We look forward to working alongside Cinven and RAG-Stiftung to leverage our collective expertise and capital resources and to build on this excellent platform for further growth, thereby creating a strong, independent industrial company”, said Ranjan Sen, Managing Partner and Head of Germany at Advent.

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Following the successful completion of its realignment to become a media group with three dedicated business segments (i.e. Regional Media, Business Information and Marketing Technology) by the end of 2018, DuMont Mediengruppe (“DuMont” or the “Company”) initiated a portfolio review of its Regional Media business segment in the course of 2019. goetzpartners Corporate Finance ("goetzpartners") advised DuMont during this portfolio review which ultimately led to three separate M&A transactions.

As a first step, DuMont announced the sale of Berliner Verlag to entrepreneurs Silke and Holger Friedrich in September 2019. The transaction included i.a. Berlin’s widest-reaching newspaper Berliner Zeitung, newspapers Berliner Kurier and Berliner Abendblatt and its digital offering BerlinOnline.

Subsequently, DuMont announced the sale of Mediengruppe Mitteldeutsche Zeitung to Bauer Media Group in January 2020. With around 1,100 employees, Mediengruppe Mitteldeutsche Zeitung publishes i.a. Mitteldeutsche Zeitung, the largest regional newspaper in Southern Saxony-Anhalt, with a daily circulation of around 162,000 copies and 17 local editions.

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goetzpartners advised WERU on the full refinancing process with its unique cross-functional approach consisting of its Debt Advisory and Commercial Due Diligence practice. WERU, the market leading manufacturer of high-quality windows and doors is a portfolio company of H.I.G. Europe - the European Private Equity affiliate of H.I.G. Capital with over €3bn capital under management.

goetzpartners prepared a Commercial Review Paper to explain the European windows and doors market and the business model as well as the business plan of WERU Group to substantiate the key financing highlights and to successfully educate potential lenders with tailor-made information.

Key success factor of the successful refinancing process was goetzpartners' extensive and unrivalled network of lending parties comprising banks and debt funds. goetzpartners setup a long-list of relevant potential lenders to secure the competitive edge in a structured and highly competitive financing process.

The final debt solution provides long-term stability and flexibility to make planned growth investments required to build on the Group's strong market position. goetzpartners negotiated attractive terms and conditions as well as a high degree of flexibility in the final credit documentation (incl. a portability clause).

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The Otto Group - one of the world's largest online retailers - has decided to sell its SportScheck GmbH group company, headquartered in Unterhaching near Munich, to Galeria Karstadt Kaufhof. Following successful completion of the deal, SportScheck GmbH is to be integrated into the omnichannel retail portfolio of Galeria Karstadt Kaufhof. The deal was approved by the German Federal Cartel Office and has been closed on February 29th, 2020.

goetzpartners' supported its client with M&A as well as commercial advisory services, including an initial strategic analysis, a detailed synergy assessment with quantification of integration costs as well as an integrated merger model to assist during negotiations.

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goetzpartners advised ITM Isotopen Technologien München AG (ITM), a biotechnology and radiopharmaceutical group of companies on a technology license agreement with Chengdu Gaotong Isotope Co., Ltd. a subsidiary of China Isotope & Radiation Corporation (CIRC), a nuclear technology application products manufacturer and supplier. The agreement is in relation to the production and distribution of Germanium-68/Gallium-68 Generators and no-carrier-added (n.c.a) Lutetium-177 (EndolucinBeta®) in China.

ITM and CIRC have already been working together in a successful partnership for almost 10 years in which CIRC has distributed ITM‘s medical radioisotopes, generators, and equipment to the Chinese market. China's radiopharmaceutical market is now growing rapidly in line with the fast expanding clinical evidence and use of Targeted Radionuclide Therapies worldwide. In order to meet the rising demand for Targeted Radionuclide Therapy in China, ITM and CIRC have decided to enter into a technology license agreement. Under the terms of the agreement, CIRC’s subsidiary Gaotong will implement the production of 68Ge/68Ga Generators and n.c.a. Lutetium-177 (EndolucinBeta®), in China for the Chinese market, as well as joining ITM’s global network of OEM suppliers in support of ITM’s international framework agreements with strategic partners. With this new partnership, CIRC is now the fourth partner to join the global ITM OEM Processing and Production Network.

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GOETZPARTNERS WAS MANDATED BY HQ EQUITA FOR THE SUCCESSFUL ACQUISITION OF EBERTLANG USING ITS TRANSACTION ADVISORY SERVICES: M&A, DEBT ADVISORY & CDD SERVICES

HQ Equita, the Germany-based direct investment company of HQ Capital, mandated goetzpartners with M&A, Debt Advisory and CDD services on the acquisition of a majority interest in EBERTLANG, a leading value-added software distribution player, from Beyond Capital Partners and the company's founders.

Based in Wetzlar, Germany, EBERTLANG is one of the leading value-added distributors of infrastructure software for small and mid-sized companies in German-speaking Europe. The company provides software solutions for email archiving, back-up, IT-security, service automation and continuity, and also offers comprehensive training, consulting and service support to both partners and software vendors. Read more

M&A Advisory

About goetzpartners Corporate Finance

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PUBLICATION

Paving your path through Post-Merger Integration

The significance of continuous long-term restructuring activities is increasing again, especially in the context of persistent economic uncertainty. The problem is that within the company, these activities are frequently neither systematically established nor rigorously pursued. Instead of controlling the progress of measures actively, the organization simply reacts to events.

Wie kann man sich den Weg durch Post-Merger-Integrationen bahnen und welche Vorteile ergeben sich durch einen umfassenden, professionell geführten Ansatz? Welche Schritte sind nötig, um Organisationen wieder wettbewerbsfähig zu machen, und welche Dimensionen werden wann und wie am besten bearbeitet?

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Medisorb

 

International investor found for family-run pharmaceutical company – Medisorb becomes Russia's largest maker of generic drugs

Case:

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Mergers & Acquisitions in China and Europe: 6 ways to make cross-border M&As a success

Chinese investors are as much on the lookout for profitable projects in Europe as European investors are in China. However, this can often involve risks. Six tips for Chinese and European companies to make sure everything goes smoothly.

We explore this issue in our online magazine Transformation Beats. The magazine reports on digital business models in practice: entrepreneurs, CxOs and managers experience live how changes are initiated and taken into action.

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Contact

 Christian Muthler

Christian Muthler Managing Director
Corporate Finance
Industrials & Automotive

 Ivo Polten

Ivo Polten Managing Director
Corporate Finance
Industrials & IT Services

 Serge Prager

Serge Prager Managing Director
Corporate Finance
Head of France

 Milan Saric

Milan Saric Managing Director
Corporate Finance
TMT, Carve-out situations