Revenues > EUR 10m, profitability: irrelevant
Transaction volume: EUR 0,5m – 10m, share and asset deals
Preferably in Germany, Austria or Switzerland
Opportunistic approach across all kind of industries with limited technological and regulatory risks
Performance not dependent on a single person, product, project, supplier or customer
”Friendly” take-overs only
- Substitute a shareholder (succession, dispute, non-core, exit)
- Carve out a business unit within a conglomerate
- Enable external growth, incl. follow on acquisitions/buy-and-build
- Bail out shareholders or creditors in an undisclosed fire-sale
- Re-start a formally insolvent business
- As operational improvement is our key value driver alongside arbitrage and leverage, we act as share”owners” instead of share”holders”
- If required, we actively get involved in all stages of our investment partnership with our client, from unlocking existing entrepreneurial spirit within the company to a comprehensive business transformation
We invest our own money and do not want to lose it.
We maintain an independent investment viewpoint, irrespective of sudden market volatility, constant noise flow and short-term investment fads.
We do not intend to create a diversified portfolio but aim to reduce risk by (i) focusing on a few selected companies which we understand very well (ii) by underleveraging the deal financing and (iii) by avoiding overpayment.
We take a long term investing perspective as we do not face any “exit pressure”.
We only sign LOIs if we are committed to invest.