maconda supports Kapital 1852 in its investment in May, a leading supplier of hospitality furniture
maconda-News July 2022
The Cologne-based consulting boutique maconda advised the medium-sized investor Kapital 1852, which is part of the 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 supplier of high-quality seating and table furniture for the hospitality segment.
The maconda advisors, 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. At the beginning of the year, maconda was also involved as a commercial advisor for the takeover of the premium furniture manufacturer Thonet and was now once again able to contribute its many years of expertise in the furniture industry as well as in the development of strategies for medium-sized companies.
Eberhard von Strenge, Managing Director of Kapital 1852, says: “maconda delivered excellent results in the context of a commercial due diligence on the hospitality furniture supplier May. The consultants analysed the niche market in which our new investment operates unerringly and accurately and always had a good feel for the requirements and sensitivities of a classic medium-sized company. Working in close partnership with us at Kapital 1852, the dedicated maconda team helped to identify critical success factors and exciting opportunities for value enhancement. We would like to express our thanks for the excellent collaboration.”
In order to better assess May’s USP and positioning in the niche market for hospitality furniture, both the product range and the distribution network were scrutinised. As is so often the case with special markets, the data situation was patchy. Targeted, structured market interviews helped to identify the awareness of individual suppliers, important purchasing criteria, trends and also strategic opportunities. In addition, there were visits to interior decorators and catering and contract furniture dealers. A structured telephone survey with over 130 participants, including restaurateurs, hoteliers and contract furnishers, which was deliberately designed by the maconda market research team to be usable for May’s day-to-day business, was very helpful. The tried and tested combination of explorative interviews, broader primary surveys and quantitative market data once again proved to be an effective maconda tool.
As always with a “CDD by maconda”, an essential component of the work was the identification of potential for increasing operational efficiency as well as the sketching of promising fields for further growth. This took place in several intensive discussions with the May executives, including a full-day strategy workshop.
May Design GmbH, based in Lehrte, Lower Saxony, was founded in 1957 and is a supplier of hospitality furniture. The company employs around 70 people and has become one of the most established German furniture suppliers 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 characterised by high design competence, the broad product range, the high-quality standard as well as a fast and reliable delivery capability.
maconda further expands expertise in furniture, furnishings and consumer goods
In recent years, the maconda team has dealt with a wide range of consumer goods and various furniture and furnishing segments and successfully carried out a number of projects. These included many commercial due diligences, strategy mandates, business model optimisation and projects to improve operational performance.
Intensive 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 | Covered table | Residential business | Contract business (offices, hotels, gastronomy, events, etc.) | Intermediaries (architects, room planners, etc.) | Consumer goods of all kinds | Brands | Premium segment | Omnichannel | Specialist retail | and much more