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 totaling in excess of 15 billion euros in the last decade alone, 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
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
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
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.
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Latest transactions
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(value not disclosed)
The Riverside Company* and Halder* sold KEYMILE to DASAN Zhone Solutions
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€ 3.400.000.000
Merck* sold its global Consumer Health business to Procter & Gamble
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(value not disclosed)
AURELIUS* acquired VAG Holding from Rexnord Corporation
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(value not disclosed)
Ardian* acquired a majority stake in Opteven
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(value not disclosed)
SoftwareONE* - a KKR-backed company acquired COMPAREX
goetzpartners exclusively advised The Riverside Company and Halder on the sale of KEYMILE to NASDAQ-listed DASAN Zhone Solutions
goetzpartners Corporate Finance exclusively advised The Riverside Company and Halder, the 100% shareholders of KEYMILE, on the disposal of their shares to NASDAQ-listed DASAN Zhone Solutions, Inc. (NASDAQ: DZSI or “DZS”). The transaction was successfully closed in January 2019 after obtaining Foreign Trade Ordinance (Außenwirtschaftsverordnung – “AWV”) clearance.
DZS, a global leader in fiber access transformation for enterprises and the telecom industry, acquired KEYMILE, a leading solution provider and manufacturer of telecommunication systems for broadband access. The acquisition aims to further strengthen DZS’s portfolio of broadband access solutions to offer a series of multi-service access platforms for FTTx network architectures, including ultra-fast broadband copper access based on VDSL/Vectoring & G.Fast technology. Additionally, this strategic acquisition further expands DZS’s global footprint and accelerates the company’s vision of empowering global advancement.
As exclusive financial advisor to the sellers, goetzpartners successfully managed the complex disposal process by aligning all transaction stakeholders with their individual goals and expectations across three continents, Oakland/USA, Seoul/Korea and Hanover/Germany. Read more
goetzpartners provided strategic advice to the board of Merck KGaaAon the sale of its consumer health business to The Procter & Gamble Company
goetzpartners Corporate Finance GmbH provided strategic advice to the Board of Merck KGaA on the sale of its Consumer Health business to The Procter & Gamble Company.
Merck, a leading science and technology company, announced today that it has signed an agreement to sell its global Consumer Health business to Procter & Gamble (P&G) for approximately € 3.4 billion in cash, or approximately $ 4.2 billion at current exchange rates. The transaction, which is expected to close by the end of the fourth quarter 2018, is subject to regulatory approvals and satisfaction of certain other customary closing conditions. Merck intends to use the net proceeds from the divestiture primarily to accelerate deleveraging. At the same time, it will allow Merck to increase flexibility to strengthen all three business sectors.
“The divestment of the Consumer Health business is an important step in Merck’s strategic focus on innovation driven businesses within Healthcare, Life Science and Performance Materials. It is a clear demonstration of our continued commitment to actively shape our portfolio as a leading science and technology company. The attractive price reflects the high asset value and the performance Consumer Health has delivered,” said Stefan Oschmann, Chairman of the Executive Board and CEO of Merck. “Consumer Health is a strong business that deserves the best possible opportunities for its future development. With P&G we have found a strong, highly recognized player who has the necessary scale to successfully drive the business going forward.”
“P&G’s global scale and strategic interest in the health and well-being of consumers provide an excellent basis for accelerating growth, leveraging our teams’ capabilities and expanding the Consumer Health business profitably. The marketed portfolios, product pipelines and geographic footprints of both businesses are highly complementary,” said Belén Garijo, Member of the Executive Board of Merck and CEO Healthcare. “With this transaction, we continue to rigorously deliver on our strategy to become a global specialty innovator and bring breakthrough medicines to patients.” Read more
goetzpartners advised AURELIUS Equity Opportunities SE & Co. KGaA on the acquisition of VAG from Rexnord Corporation.
goetzpartners advised AURELIUS Equity Opportunities SE & Co. KGaA (“AURELIUS”) on the acquisition of VAG, the Mannheim-based manufacturer of water and waste water valves from U.S.-based Rexnord. With approx. 1,200 employees, VAG generated sales of almost EUR 200 million in its 2017/18 financial year. The transaction is to be finalized in Q4 2018.
As a globally active company, VAG is one of the leading suppliers of valves for water treatment and distribution, waste water management, dams, power stations and the energy industry. VAG is known and appreciated throughout the world for its market-leading know-how in product development and bears the quality seal “Engineering made in Germany.” The company has six production facilities in Germany, the Czech Republic, China, India, South Africa and the United States, as well as 14 own sales offices that sell VAG’s products and services in more than 100 countries of the world. VAG operates both in the global project business and in the production and distribution of standard applications.
“VAG is an exciting company with great potential, which we want to realize by completing the restructuring,” said Gert Purkert, Member of the Executive Board of AURELIUS Equity Opportunities. “Also in the coming months, we expect further acquisitions and add-on-acquisitions to strengthen our existing portfolio companies.” Read more
goetzpartners advised Ardian expansion for the acquisition of a majority stake in Opteven
Ardian, a world-leading private investment house with US$72bn of assets managed, has successfully completed the acquisition of a majority stake in Opteven, an insurance company specializing in mechanical breakdown cover, maintenance contracts and assistance, from Aviva, the multinational insurance company, and Capzanine. This tertiary LBO demonstrates the quality of the company led by a highly committed and seasoned management team and the outstanding potential to be seized ahead in France and many European countries, including Germany, the UK and Italy. This new stage in Opteven’s corporate history will allow the company to conquer new European markets and consolidate further its leading positions as a pure player. Ardian’s strong support and international reach will undoubtedly help Opteven seizing external and organic growth opportunities in the targeted geographies. Marie Arnaud-Battandier, Managing Director at Ardian Expansion: “We have particularly enjoyed working with goetzpartners, with whom we have established a good working relationship based on trust and proximity in a highly competitive process.” Guillaume Piette, Managing Director at goetzpartners: “We are delighted to have advised Ardian in the course of the acquisition of this thrilling asset. This deal strengthens further our track record in advising successfully pan European private equity funds in auction bids, hence showcasing our ability to bring strong angles and insights on outstanding assets.” Read more |
goetzpartners advised KKR-Backed SoftwareOne on the acquisition of COMPAREX
goetzpartners advised SoftwareONE, a global leading platform, solutions and services company backed by the private equity investor KKR, on the acquisition of 100% of the shares in COMPAREX, a global IT service provider, from Raiffeisen Informatik.
By coming together, COMPAREX will enhance SoftwareONE’s customer offerings by combining industry leading talent, expertise and capabilities. Following the combination, SoftwareONE will help customers optimize and manage an estimated €10 bn in software purchases. The combined company will have an expanded global reach across 88 countries, allowing customers to receive on-the-ground, local-language support wherever they operate, from more than 5,500 employees. A comprehensive services and solutions portfolio, driven by proven and continued investment in innovation, will provide customers with more advanced solutions, including SoftwareONE’s PyraCloud, an industry-leading platform for digital software supply chain management.
“As a private company, we carefully review potential acquisitions to ensure that we are best utilizing our capital. Along with our investor KKR, we spent considerable time intensely searching for the ideal partner and are convinced we have found it with COMPAREX. Together, we will be driven by SoftwareONE’s core values as we continue to transform the industry. SoftwareONE’s founders will remain majority shareholders of the combined company," said Daniel von Stockar, Chairman of SoftwareONE Board of Directors. Read more
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?
Have a read!
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.
Contact
Christian Muthler
Managing Director
Corporate Finance
Industrials & Automotive
Ivo Polten
Managing Director
Corporate Finance
Industrials & IT Services
Serge Prager
Managing Director
Corporate Finance
Head of France
Milan Saric
Managing Director
Corporate Finance
TMT, Carve-out situations
