Before 2019 really gets going, we would like to take you on a special review:
maconda News January 2019
In 2018, numerous private equity firms, family offices and mid-sized family-owned businesses made important investment decisions with maconda’s support. The course was set to secure the future and new market potential was unlocked. Thank you to our loyal clients—often long-standing—for placing your trust in our assessments.
Our success stories can continue to benefit you in the future—whether for investments, recalibrating business models, digitalization, necessary performance optimization, or even particularly demanding restructuring.
We have compiled a selection of our activities from the past year for you.
COMMERCIAL DUE DILIGENCE Optometry and hearing acoustics, branch networks
Eyes and ears open! In mid-2018, maconda contributed its long-standing expertise in retail and
ophthalmology to a Commercial Due
Diligence for Argos Wityu. The company acquired a
majority stake in aktivoptik, one of Germany’s leading
optician chains, with an offering expanded to include hearing acoustics. A key part
of the project was the analysis of market positioning in a fragmented
provider landscape.
At the end of 2018, maconda’s experts again advised on a planned investment in the optometry sector. In particular, the branch network and potential “white spots” were analyzed in detail, using a huge pool of internal data from the target company as well as externally provided micro-geographic information. M&A activity in the optician market is currently quite high; further transactions are expected.
COMMERCIAL DUE DILIGENCE Decorative cosmetics, beauty, niche products
Blush and a flutter of lashes: With an extensive Commercial Due Diligence, maconda supported VR Equitypartner in its investment in Dr. Neuberger Holding, a provider of decorative cosmetics— a
fragmented and fast-moving market. Drawing on many years of experience in retail and the beauty sector, the maconda team outlined the requirements for a successful market strategy.
COMMERCIAL DUE DILIGENCE AND MARKET MODELLING Floating water parks, tourism, niches
Dive into the fun: maconda advised Argos Wityu on an investment in Wibit Sports, the global market leader for inflatable water parks for coastal waters, lakes and indoor pools. Based on around 100 interviews worldwide, including many in Asia and North America, maconda’s analysts, among other things, developed a smart market model and assessed the growth dynamics of various sales regions.
COMMERCIAL DUE DILIGENCE AND SYNERGY ANALYSIS Confectionery, private label, promotional business
At the turn of the year 2017/18, maconda supported United Chocolate with a Commercial Due Diligence review of Argenta, a manufacturer of innovative chocolate specialties and seasonal chocolate products. Mid-year, this was followed by a synergy analysis of Argenta and Weibler Confiserie, a manufacturer of gift-style chocolate products for specialist retailers. Another successful step
towards building a mid-sized chocolate group.
COMMERCIAL DUE DILIGENCE Healthcare, outpatient care
After several projects in the complex healthcare sector, maconda was again active in the fast-growing outpatient care segment—this time with a very comprehensive Commercial Due Diligence of a larger corporate group specializing in outpatient intensive care. To assess market mechanics with its many stakeholders, the shortage of skilled workers and strategic positioning, maconda’s consultants analyzed complex statistics and market data, among other things, and conducted a large number
of interviews. Particular attention was paid to the intricate regulatory environment and the reimbursement practices of payers, which significantly shape business in the healthcare and care sector.
COMMERCIAL DUE DILIGENCE Damage restoration
A clean performance: maconda prepared a comprehensive Commercial Due Diligence on Siccum, used by the Munich-based family office Rigeto Unternehmerkapital. The target company is a regional leader in restoring water, fire and mold damage. The challenge was to assess the company’s future business development in the conservative, regionally shaped damage restoration industry.
COMMERCIAL TRANSACTION SERVICES Bread, baked goods and snacks
Quite the wake-up call: maconda supported Hannover Finanz in its investment in a regionally leading bakery chain. In doing so, the maconda team was able to draw on its wealth of experience from many completed projects in the baking and food industry as well as in retail and chain restaurants.
COMMERCIAL TRANSACTION SERVICES BPO, sales outsourcing, temporary agency work
In an engagement related to business process outsourcing, maconda contributed BPO experience in a personnel- and recruitment-intensive industry: Careforce is a leading provider of field sales staff for pharmaceutical companies via temporary agency work and service contracts. Key areas of the project work included the regulatory framework for temporary agency work, the outsourcing behavior of research-based pharmaceutical companies, and the assessment of the business plan. The Cologne-based consulting boutique also supported an investment assessment for a staffing services provider focused on freelance IT experts, contributing business model expertise and outsourcing experience. Among other things, the target company’s positioning compared with other staffing service providers was determined qualitatively and quantitatively. In addition, maconda’s consultants examined the impact of the amendment to the German Temporary Employment Act (AÜG) on the business model.
COMMERCIAL DUE DILIGENCE Lighting, LED, wholesale
In recent years, maconda’s consultants have delivered several projects in the lighting industry: investment reviews, Commercial Due Diligences, feasibility studies, and strategy and implementation projects. In 2018,
among other things, maconda conducted a Commercial Due Diligence for a leading provider of recessed and surface-mounted luminaires sold via wholesale channels.
A sector overview of current or recently completed maconda projects:
- eCommerce
- dietary supplements
- Convenience food, ready meals, frozen products
- pet food
- Beauty & fashion
- Eye and dental clinics
- Continuing education
- Software (incl. document management)
- Receivables management & debt collection
- Electrical installation and lighting
- Innovative heating technology
- Temperature-controlled logistics
- Recycling industry