Mergers & Acquisitions

Acquiring companies. Selling interests.

Buyers and sellers pursue different interests. Buyers seek to change their strategic position, enable growth, gain capabilities or deploy capital profitably. Sellers may wish to realise value, arrange succession or restructure their holdings. The goals, options and measures of success on either side are fundamentally different.

We know both sides of the negotiating table from direct responsibility for transactions. We consider commercial, corporate-law, contractual and regulatory factors together. We combine analysis, valuation and negotiation with experience in company management and operational transformation.

Buy-side. An acquisition's value lies in what it makes possible.

An acquisition can provide access to markets and capabilities, add capacity or accelerate a strategic change. Its value is not determined by the target's figures alone. What matters is what the buyer can achieve, which conditions must be met and which additional risks it assumes.

We help identify and assess targets, analyse business models, market positions, profitability and funding needs, and develop a commercially substantiated valuation. We also consider contractual, corporate-law and regulatory requirements and the demands of integration. We prepare negotiations, support due diligence and contribute to transaction structuring and execution. Where assumptions fail or risks outweigh anticipated benefits, responsible advice may mean recommending against an acquisition.

Sell-side. A successful sale is about more than the purchase price.

Sellers face different questions: What is the business worth to prospective buyers? What information must be provided and which outstanding issues resolved? How can the process be structured so that shareholders' interests are properly considered?

We support sale preparations, commercial analysis and valuation, approaches to suitable buyers, negotiations and due-diligence processes.

For a seller, the offered price is not the only consideration. Equally important are when and under what conditions it is paid, whether parts depend on future performance, and which obligations or liability risks remain after completion.

Succession, continuity of the business, personal responsibilities and differing shareholder objectives may be just as important as the amount offered when choosing a transaction structure.

Distressed M&A. Commercial clarity under exceptional conditions.

Transactions involving financially distressed businesses operate under particular constraints. Liquidity pressure, tight deadlines and uncertainty about continuity alter the available options and negotiating positions. It is especially important to distinguish opportunities from risks objectively.

We bring experience in acquisitions from insolvency and the assessment of companies in crisis. We investigate which parts of the business and assets remain viable, what obligations and dependencies exist, and what is required for continuation or acquisition, including finance, negotiations with stakeholders and preparation for operational takeover.

Not every possible deal is a good decision.

A transaction can be legally and financially feasible without making commercial sense. We therefore consider not just whether completion is achievable, but whether it meets the business objectives under realistic conditions.

We combine commercial calculations with technical, organisational and operational experience, challenge forecasts, evaluate alternatives and identify findings that may argue against a proposed transaction. Our role is to enable a sound decision, not to complete a deal at any price.

Responsibility does not necessarily end at closing.

The most demanding phase often starts after an acquisition. Processes, systems, responsibilities and people need to come together, and planned synergies must be realised under real operating conditions. What appears plausible in integration planning still has to work in practice.

Where needed, we also support post-merger integration, operational reorientation or temporary executive responsibility. Our experience in managing companies and industrial change helps turn commercial goals into concrete measures.

Let us discuss your transaction.

Whether you are acquiring a company, selling a stake or considering strategic alternatives, an initial conversation will establish whether and how we can help.

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