maconda supports Kapital 1852 in the investment in May, a leading provider of hospitality furniture
maconda News July 2022
The Cologne-based consulting boutique maconda advised the mid-market investor Kapital 1852, part of Hauck Aufhäuser Lampe Privatbank, with a comprehensive Commercial Due Diligence on the investment in May Design GmbH from Lehrte near Hanover. May is an established provider of high-quality seating and table furniture for the hospitality segment.
The maconda consultants, experienced in both the furniture and hospitality industries, evaluated May’s positioning and developed initiatives for further growth together with Kapital 1852 and May executives. Earlier this year, maconda was engaged as Commercial Advisor for the acquisition of premium furniture manufacturer Thonet, and was once again able to apply its long-standing expertise in the furniture industry and in developing strategies for medium-sized businesses.
Eberhard von Strenge, managing director of Kapital 1852, describes the collaboration as follows: “maconda delivered outstanding results as part of a Commercial Due Diligence on hospitality furniture provider May. The consultants analyzed the niche market in which our new investment operates with precision and accuracy, while always maintaining a good sense for the requirements and sensitivities of a traditional medium-sized business. In close and collaborative partnership with us at Kapital 1852, the dedicated maconda team helped identify critical success factors and exciting opportunities for value creation. We are very grateful for the excellent collaboration.”
To better assess May’s USP and positioning in the niche market for hospitality furniture, both the product range structure and the distribution network were examined closely. As is often the case with specialized markets, the data situation was incomplete. Targeted, structured market interviews helped identify the awareness of individual providers, important purchasing criteria, trends, and strategic opportunities. This was complemented by visits to interior designers and commercial and contract furniture dealers. A structured telephone survey with over 130 participants, including restaurateurs, hoteliers, and contract furnishers, proved very helpful. The maconda market research team deliberately designed it so that it would also be useful for May’s day-to-day business. The proven combination of exploratory interviews, broader primary surveys, and quantitative market data once again proved to be an effective maconda tool.
As always with a “CDD by maconda,” a key component of the work was identifying potential for improving operational efficiency and initially outlining promising areas for further growth. This was accomplished through several intensive discussions with May executives, including a full-day strategy workshop.
About May
May Design GmbH, based in Lehrte, Lower Saxony, was founded in 1957 and is a provider of hospitality furniture. The company employs around 70 people and has developed into one of the most established German furniture providers in the hospitality segment. The company serves over 2,000 active customers annually and is the market leader in Northern Germany. May serves a broad customer base and is distinguished by high design competence, a diverse product range, high quality standards, and fast and reliable delivery capability.
maconda continues to expand expertise in furniture, furnishings, and consumer goods
The maconda team has repeatedly engaged with a wide variety of consumer goods and diverse furniture and furnishing segments in recent years and has successfully completed numerous projects. These included many Commercial Due Diligences, engagements for strategic realignment and business model optimization, as well as projects to improve operational performance.
Extensive industry experience: Chairs and other seating furniture | Sofas and other upholstered furniture | Upholstered and box spring beds | Mattresses | Case furniture | Outdoor furniture | Lighting | Home accessories | Home textiles | Tableware | Residential business | Contract business (offices, hotels, restaurants, events, etc.) | Intermediaries (architects, space planners, etc.) | Consumer goods of all kinds | Brands | Premium segment | Omnichannel | Specialty retail | and much more