Exit Readiness
Realize exits
Why good preparation is half the battleIf value drivers are identified and developed early on, the attractiveness of the business model convinces potential buyers and the sale price can be increased. We understand both perspectives—yours as the seller and the investor’s—and work with your company’s management team to create the optimal starting position. Your benefits:
- Independent analysis of weaknesses and deal breakers, value drivers and upsides
- Development of strategies and measures for sustainable value enhancement
- Preparation for the sales process—content-wise, organizationally and mentally
- Faster transaction, less effort in the subsequent due diligence
- Stronger negotiating position vis-à-vis the buyer side
Are you planning to sell a company or a shareholding?
We create the optimal starting position—from the equity story to the Commercial Factbook.
Our exit readiness expertsGet to know us
From more than 450 transaction-related engagements, we know the buyer-side questions and bring this knowledge to your side of the table.
Dr. Rainer Mayer
In his more than 30 years as a consultant, he has seen countless companies and led many projects to success.
Bertram Stähler
He has been a consultant for over 20 years, having supported and led numerous analysis, strategy, and M&A projects.
Ümit Esrefoglu
His focus is on CDD and growth strategies for Private Equity investors and their portfolio companies.
Frequently asked questions about exit readiness support
Commercial Due Diligence is part of every M&A process involving Private Equity. In some situations, it is worthwhile for the seller to commission the review themselves: a Commercial Review—often called a Commercial Factbook—answers typical buyer questions in advance and thus accelerates the sales process. Benefits of a Commercial Review:
- Verify hypotheses and put uncertainty factors into context in opaque niches, highly dynamic markets or times of crisis
- Answers typical buyer questions in advance
- Valuable contribution to the sales documentation, benefiting the M&A team
- When there is ample liquidity in the market, a high-quality Commercial Review provides robust information at an early stage and increases the chances of attracting a larger bidder pool
We not only validate submitted business plans, but also develop them ourselves—to quantify value drivers as part of operational exit readiness or as part of vendor commercial support. This creates a growth story from an investor perspective, including long-term upside potential. Our methodology and areas of analysis:
Prepare, facilitate and follow up on strategy and planning workshops
- Define the foundation: “the company today”, its DNA
- Discuss potential growth options and rank them with pros and cons
- Derive planning measures (qualitative and quantitative) together with management
- Coaching and development of an integrated financial plan, including technical implementation
- Test assumptions against the market
- Identify growth options beyond the business plan
- Prepare, facilitate and follow up on strategy and planning workshops
An independent analysis of weaknesses, deal breakers, value drivers and upsides, and measures to increase value based on this. This accelerates the transaction, reduces the effort required for due diligence and improves your negotiating position.
For exit, carve-out and succession—whenever the sale of a company or a shareholding is planned. We often work directly with shareholders and management.
A commercial review initiated by the seller. It reduces buyers’ information needs and accelerates the sales process.
In opaque niches, dynamic markets and times of crisis, when market data is missing or no longer valid. And when there is ample liquidity in the market: early, robust information expands the pool of bidders who might otherwise shy away from the cost of conducting their own due diligence.
We validate business plans or develop them ourselves in workshops with management—from the company’s DNA and ranked growth options through to an integrated financial plan, whose assumptions we validate with the market.
No. In addition to the current situation, we highlight growth potential and medium- to long-term options beyond the business plan—upside potential from an investor perspective.
Case Studies
Initial Situation
A leading manufacturer of plastic pipes for construction and industry is reviewing strategic options, considering the divestment of a subsidiary specializing in plastic products for home & garden modernization
Task
Vendor Market Review to illuminate the company and addressed markets in water and ventilation technology; a well-founded report as part of the sales documentation for the M&A process
maconda Contribution
- Assessment of the business model with multiple business units; market-related carve-out requirements
- Characteristics of the respective product offering, target group addressed (DIY enthusiasts, installers, industrial customers, and planners), and application area
- Historical and future market development based on a detailed market model
- Assessment of Corona effects and their longer-term impact
- Detailed competitor analysis: competitive position in the various served markets, USP
- Examination of the customer base per business unit; key customer purchasing criteria and their fulfillment
- Analysis of selected international markets regarding DIY and wholesale landscape, market development, and supplier structure
- Plausibility check of the business plan and identification of further potentials
Initial Situation
US private equity investor intends to sell an internationally active manufacturer of plastic caps (Caps & Closures)
Task
Development of a Vendor Commercial Factbook that clarifies the complex products and addresses the company’s complex global setup with many plants, products, and customers
maconda Contribution
- Presentation of the value chain and core competencies of the company
- Comprehensive research, primarily in trade media and industry studies, as well as conducting many interviews with industry experts for the relevant product groups and regions
- Detailed analysis of the company’s international markets and its positioning with a focus on the growth regions of Latin America, India, and Southeast Asia
- Elaboration of the characteristics of the end markets Personal Care, Food & Beverage, and Home Care (product life cycles, packaging complexity, drivers and effects on packaging, etc.)
- Comprehensive analysis of the purchasing behavior of internationally operating FMCG providers and profiling of key customers
- Validation of the business plan and identification of upside potential
Initial Situation
German financial investor prepares the sale of a leading distributor of ophthalmic surgical products
Task
Creation of a Vendor Commercial Factbook to provide even non-specialist investors with easier and quicker thematic access to the complex subject matter regarding products and billing
maconda Contribution
- Presentation of market drivers and trends in ophthalmic surgery and their significance for the company’s products
- Identification of the different protagonists in the highly regulated German healthcare system and a well-founded analysis of the complex, heterogeneous contractual landscape
- Identification of the various billing modalities and reimbursement practices, as well as their effects on ophthalmologists’ procurement behavior
- Evaluation of the heterogeneous competitive landscape and the target company’s positioning
- Analysis of demand and the buyer and customer structure
- Assessment of business potential in neighboring international markets
Initial Situation
Shareholder of a leading manufacturer of technical systems for access control, locking systems, time recording, and their electronic management plans the divestment of the company
Task
Vendor Market Factbook to portray and explain the business model, the opaque market, and the competitive positioning for potential buyers
maconda Contribution
- Analysis of current and future acceptance of RFID-based solutions in domestic markets as well as in America, the Middle East, and Asia, e.g., among amusement park operators; understanding future customer requirements
- Investigation of the historical and future development of relevant driver markets by region and segment, especially fitness studios and amusement parks in various price categories
- Identification of potential differentiation factors and their fulfillment by the company, evaluation of positioning within the global competitive landscape
- Identification and evaluation of attractive markets and growth paths
- Reality checks in various leisure facilities and evaluation using numerous expert interviews from the broad maconda network
Initial Situation
German industrial group considers selling an internationally leading manufacturer of sausage casings with a broad product range and high export share
Task
Independent analysis of the company and relevant market through a Vendor Commercial Due Diligence to reduce the entry barrier for potential bidders in advance of the transaction
maconda Contribution
- Detailed assessment of various types of sausage casings (fields of application, price level, processor requirements, etc.)
- Well-founded analysis of the market for processed meat products and the niche market for artificial and natural sausage casings
- Detailed analysis and characterization of the relevant regions worldwide (Europe, Russia, America, North Africa), especially the regional industry structure, meat and sausage consumption, projected market development, etc.
- Evaluation of the USP, product range, and business plan by product type and region
- Conducting structured customer interviews as well as a multitude of exploratory market interviews with meat and sausage manufacturers, wholesalers, competitors, associations, and other industry experts