Response usually within 72 h
You usually get a clear answer with reasons within 72 hours. A no also comes in writing.
Our commitments
What you get from us
Advisors bring us companies when we lower their risk. That is why we give you six commitments.
Never around the advisor
We only approach your client through you.
Renegotiation only with a finding
The price in our indicative offer only changes if due diligence shows something different from your documents.
Equity is in place
Capital comes from our fund of more than €60m. We do not look for investors during the process.
Referral
If your client does not fit us, we tell you who might.
One contact per deal
One Managing Partner runs the process from teaser to signing. You reach them directly on one phone number.
Process, comparison and deal structures
Everything for your mandate is on one page
The process in five steps, the comparison with other buyers, the two deal structures and the answers to advisor questions are collected on our deal partner page.
Acquisition profile on one page
24 segments, minimum sizes, core criteria
For all of them: owner-managed, based in Germany, recurring revenue, the team works without the owner. Platforms from €0.5m EBITDA, smaller companies as add-ons.
| Segment | Minimum size or role | Must be met |
|---|---|---|
| Real-estate-related services | ||
| Property management (WEG) | 800 to 8,000 units, at least 50% WEG | Most appointments with more than 18 months remaining. At least one person certified under Section 26a WEG besides the owner |
| Rental management | 800 or more rental units, or as an add-on to a WEG portfolio | EBITDA from €0.5m on its own, below that as an add-on. Largest owner at most 30% of units |
| Real estate accounting | From €0.5m EBITDA, or as an add-on below that | At least 15 clients, none with more than 20% of revenue. Billing through monthly or annual flat fees |
| Technical property management | Mostly recurring revenue (property management services, framework contracts) | EBITDA from €0.5m or add-on. Engineers or technicians on the team besides the owner |
| Property management | Team of 5 or more, contracts longer than 18 months | EBITDA from €0.5m or as an add-on. Largest client at most 30% |
| Facility services | Framework contracts as the core of the business | EBITDA from €0.5m or add-on. Largest client at most 30% |
| Compliance, testing and certification | ||
| Occupational safety services | 150 or more active client companies | At least 5 safety specialists or company doctors on the team. Term contracts, churn below 10% |
| Customs agency | 50 or more framework clients, churn below 10% | Customs declarants on the team, powers of attorney documented. ATLAS connection, AEO support |
| Certification body | At least two qualified auditors besides the owner | At least 100 active certificates or inspection contracts. Churn below 10% |
| Data protection consulting | 150 or more mandates on term contracts | At least 5 certified DPOs or ISOs. Churn below 10% |
| Product compliance | 50 or more mandates with a term | Liability insurance for the representative role documented |
| AML, whistleblowing, fire safety | Only as an add-on to an existing platform | Mandates with annual contracts. No law firm structure |
| Testing and experts | ||
| Structural inspection | At least two certified structural inspectors | Framework contracts with more than 2 years remaining. Mostly recurring inspection revenue, digital inspection database |
| Certified inspection experts | At least two recognized certified inspection experts | 100 or more special buildings in the cycle. Digital inspection documentation |
| Hazardous substance surveys | Framework clients from the housing sector, industry and the public sector | TRGS 519 expertise held by at least three people. Lab connection secured by contract |
| Additional testing services | Revenue mostly from recurring test cycles | 5 or more employees, or as an extra unit. Accredited partner lab secured by contract |
| Non-medical healthcare services | ||
| Medical billing office | 200 or more active clients, largest client at most 15% | Client relationships longer than 3 years |
| Therapy billing | 500 or more clients with data acceptance certification | Largest client at most 15% |
| Medical controlling | 10 or more coding specialists | Hospitals with framework contracts, largest client at most 15%. Remote coding and your own audit system |
| Dental billing | 150 or more practices, client relationships longer than 3 years | 20 or more employees with their own process infrastructure |
| Ambulance billing | 20 or more clients (public operators, aid organizations, private providers) | EBITDA from €0.5m. Largest client at most 20% |
| Practice back office | Term contracts as the core of the business | Multi-client processes. No revenue share in medical services (Section 31 MBO-Ä) |
| Hygiene and QM documentation | Annual contracts as the core of the business | 5 or more employees. Only as an add-on to a billing or back-office platform |
| Industrial service and maintenance | ||
| Electrical testing | 10 or more field inspectors | High repeat rate. Digital test database without paper |
Exclusions
What we do not buy
Sectors
Software companiesIT system housesMarketing and advertising agenciesLaw and tax firmsCare services
Situations
Turnaround casesBrokers without a managed portfolio
Submit a teaser
Send us the teaser
Send the anonymized teaser. You usually hear from us within 72 hours. If the client does not fit, we tell you why and name a buyer who might.
Or directly: +49 40 89741812
Your contacts
Your three contacts
Elias Bitzer
Managing Partner
Transaction experience in the German Mittelstand, previously Afinum Management. Leads offer, valuation and negotiation.
Dr. Sebastian Herfurth
Managing Partner
Doctor of law, has founded several companies, focus on legal and fintech. Leads purchase agreement, approvals and handover.
Daniel Szabo
Managing Partner
Formerly CEO of an industrial group's digital unit, founder of YOU MAWO with an exit, jury chair of Capital Best of AI 2024 to 2026. Responsible for the time after the acquisition.