12 specialists, company doctor leaves in 2027
300 businesses, occupational health care external. You need a buyer who secures the care.
Does this sound familiar?
Two situations we know
The external safety service with very small clients
Many businesses with fewer than 20 employees. DGUV Regulation 2 (2026) moves them into the free employers' liability insurance model. You want to sell before that hits the numbers.
Your day-to-day, as we know it
This is what happens in your business before anyone talks about succession
Safety committee meeting without minutes
The occupational safety committee meets quarterly under Section 11 ASiG. In the end, the safety specialist writes the minutes in the evening.
Outdated risk assessment
The client builds a new hall or buys a machine. Nobody tells you until the employers' liability insurer asks.
Health check records at the company doctor
Mandatory and offered health checks under the ArbMedVV run on deadlines. The client rarely provides an up-to-date list of employees.
Business-specific hours
The basic care is agreed. The safety specialist has to justify and bill the business-specific part again every year.
How we measure your company
The metrics we look at in the first call
We look at the numbers you use to run your business yourself. The right column shows our acquisition criterion.
| Metric | What it tells us | Our benchmark |
|---|---|---|
| Number of client companies served | Shows how widely your revenue is spread and how dependent you are on large clients. | We look for at least 150 clients. |
| Retainer share of revenue | Shows how much revenue comes back predictably through fixed service contracts. | The higher, the better. |
| Annual churn rate | Shows whether clients stay once the service becomes routine. | Good below 10%. |
| Safety specialists and company doctors on the team | Shows whether the business runs without the owner working as a specialist. | We look for at least 5 specialists. |
| Hours delivered versus hours agreed | Shows whether the contracts cover the actual work or hours are given away. | Record per client, annually. |
What actually changes after the acquisition
Step by step
We automate the desk work. Professional decisions and customer contact stay with your people.
TodayType up the inspection report after the site visit
With GTPPhotos and voice notes become a report with a list of measures. The safety specialist checks the assessment and deadlines.
TodayUpdate the risk assessment for each workplace
With GTPChanges are prepared from templates and the previous year. The safety specialist decides on hazards and protective measures.
TodayPlan safety briefings and track attendance
With GTPInvitations, records and reminders run automatically. The specialist gives the briefing in person.
TodayCoordinate health check appointments under the ArbMedVV
With GTPDeadlines and invitations come from the records. The company doctor carries out the check and advises the employee.
Your systems stay in use:QuenticWEKA Manager
AI potential in the segment
How much desk work can really be automated here
This is GTP's assessment. We show it upfront so you can see what we will work with after the acquisition.
Risk assessment from templates
A language model drafts the risk assessment from an industry template, inspection notes and the equipment list.
Produce safety briefings automatically
You create briefing modules and records per workplace with a text generator instead of writing each one by hand.
Manage deadlines and reporting
A rules engine monitors repeat deadlines, inspection dates and accident reports and triggers tasks for each client.
What limits the technology here
Site inspections, occupational health examinations and the specialist's responsibility remain tied to a person under ASiG and DGUV Regulation 2.
What this means for you
Digitize risk assessments and briefing records before the sale. Then the buyer pays for processes that work.
Sources IAB brief report 5/2024: substitution potential of business services at 52.5% (2024) · DGUV Regulation 2: standard care with fixed minimum hours for company doctor and safety specialist (2026)
What we want to see
The documents we need
After the first call and the non-disclosure agreement, these five documents are enough for a solid offer.
- Client list with care group, number of employees and agreed hours
- Templates of the service contracts with term and notice period
- Hour records for basic care and business-specific care for the last three years
- Qualification certificates of the safety specialists and expertise of the company doctors
- List of clients who canceled in the last three years, with reasons
What we buy
Our acquisition profile for this segment
Criteria
- 150 or more active client companies
- At least 5 safety specialists or company doctors on the team
- Term contracts, churn below 10%
- EBITDA €0.5m to €5m
- Most clients with more than 20 employees
Value drivers
- Standard care of businesses with more than 50 employees
- Company doctor capacity in-house or secured by contract
- Digital risk assessment and briefings
Value reducers
- High share of small clients in the employers' liability insurance model
- Company doctor only on an individual contract
- Paper-based documentation
How you can tell we know your business
Three facts you can quote
- 01Businesses with more than 50 employees need standard care with a fixed minimum share of 20% each for company doctor and safety specialist (DGUV Regulation 2, 01/01/2026, and BGN 2026).
- 02Since Warburg Pincus came in (03/2025), Arsipa has bought more than 10 companies and serves more than 20,000 clients (arsipa.de 2026).
- 03103,333 legal units have 50 or more employees (Destatis 2024).
Market range, third-party source
What comparable companies trade at in the market
| Size class | EBITDA multiple |
|---|---|
| Micro-cap, revenue below €5m The relevant class for most succession cases in this segment | 3.5x to 5.5x |
| Small-cap, revenue €5m to €50m | 5.0x to 7.0x |
Category business services (B2B). Source: DUB KMU-Multiples Q2/2026. The DUB figures show asking prices and price expectations on a business marketplace. They do not include completed transactions. The range comes from an independent third party and is not an offer from GTP.
From multiple to cash
The multiple gives the enterprise value. What reaches your account depends on four items:
- Net financial debt
- Loans, leases and shareholder accounts are deducted, cash is added.
- Working capital
- We assume a normal level. An account emptied before the sale reduces the price.
- Investment backlog
- Vehicles, measuring equipment and software due in the next two years are deducted from the price.
- Payment structure
- Part of the price is paid only after signing, through a rollover or a performance-based component.
What lowers the value
If one of these points applies, the value drops:
- The owner personally holds the key customers
- Short remaining terms or contracts that can be terminated at any time
- If a large share of revenue depends on one customer, the price goes down.
- No second management level that runs the business without the owner
We calculate your value in the first call using your numbers. We go through the four items openly with you, even if the result is below your expectations.
All market data and the regulatory timeline for compliance, testing and certification
Frequently asked questions
What owners in this segment ask
How is GTP different from Arsipa?
Arsipa buys large providers and integrates them into its network of sites. We buy from €0.5m EBITDA and make your company the core of a platform. If you want to maximize the price, look at both.
What about the shortage of company doctors?
We secure occupational health capacity through partnerships and employment within the group. For us, the shortage is a reason to buy.
Does DGUV Regulation 2 (2026) affect my value?
With many very small clients, yes. With clients above 50 employees, no. Demand rises there.
What do you automate?
Risk assessments, briefing records, reports. The specialist inspects, the system writes.
Compliance, testing and certification
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Why we buy this segment
Your clients have obligations to meet, and your business makes sure they do. We buy businesses that do this reliably. Professional responsibility stays with the people who carry it today.
I am responsible for the purchase agreement and the handover. For businesses that need a license or accreditation, the deal structure decides whether the approval survives the change of ownership.
For M&A advisors, tax advisors and succession advisors
Response on your client usually within 72 hours
Acquisition profile, teaser metrics and our commitments for all 24 segments are on a separate page. We only approach your client through you.
First step
Talk to a buyer who knows your segment
A 30-minute call is enough to know whether we fit. Afterwards you get a written assessment with reasons.
Request a confidential first call
Or call us: +49 40 89741812
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