Strategy & M&A
Transactions that withstand investor scrutiny.
We guide family-owned businesses, family offices and institutional owners through strategy reviews, buy-side and sell-side mandates. At the intersection of real-estate, energy and capital - with the discipline a closing day demands.
- Buy-side mandates with target screening, approach and negotiation
- Sell-side process management from blind teaser to closing
- Due-diligence coordination across legal, tax, technical, commercial and ESG
- Strategy reviews resulting in a decision memo, not an option tree
The M&A - Succession Dossier.
Institutional sovereignty is achieved through access to validated sector coupling pathways and rigorous strategic modeling.
Strategic Value Levers
EV Multiplier Lift
Targeted control and evidence-backed execution to maximize returns and mitigate portfolio risks.
Buyer-Universe Access
Targeted control and evidence-backed execution to maximize returns and mitigate portfolio risks.
Transaction Shielding
Targeted control and evidence-backed execution to maximize returns and mitigate portfolio risks.
Decision Scenarios
"Pre-emptive remediation of regulatory fault lines (GEG/CSRD)."
Ready for a confidential Strategic Audit?
AME principals invite you to a structured evaluation. Let us assess tangible value levers and decarbonization pathways for your portfolio.
Foresight &
Risk Remediation.
A refurbishment backlog leads to steep purchase-price discounts and brown-discount risk.
Pre-emptive PPA structuring and gap-free CapEx provisioning in the data room.
Banks decline financing for assets without validated CRREM conformity.
Preparation of a bankable decarbonisation pathway to the AME standard.
Mandate types we manage.
Buy-Side - Targeting & Approach
We screen the relevant market, build long- and shortlists, conduct qualified approach calls, structure term sheets. Your mandate stays under your control - we are the vehicle, not the buyer.
Sell-Side - Process Discipline
Blind profile, information memorandum, process letter, data-room setup, bidder management. From first teaser to tombstone, fully documented.
Due-Diligence Coordination
We orchestrate legal, tax, technical, commercial, environmental and ESG due-diligence. Findings consolidate into one decision-ready report with risk map.
Strategy Review & Decision Memo
Instead of 40-page option trees, we deliver a decision memo: recommendation, three alternatives, one-line rationale each. Strategy should be decision-ready.
Portfolio Strategy
Cluster logic across real-estate, energy and wealth assets. Which assets belong together? Which divestments create liquidity without breaking strategy? Answer: a one-page heatmap.
Succession & Family-Office Vehicle
From inter-generational transition to foundation structure. We coordinate with notaries, tax advisors and family-office structurers, but remain strategic pilot, not legal provider.
Value Creation Before Sale
We position the asset with documented refurbishment and energy progress, so the purchase-price multiple can be justified.
Buyer Access
Direct access to institutional investors focused on ESG-compliant assets.
Purchase-Price Protection
We protect transaction value through validated decarbonisation pathways and reliable CapEx planning.
Four phases, from first briefing to signed deed.
Discovery (Weeks 1-2)
Structured sounding-out conversation under NDA. We understand your starting position, identify the strategic question, define success metrics. Result: an engagement letter that holds up internally and externally.
Analysis & Strategy (Weeks 3-8)
Data-room build or audit, market scan, financial modelling, stakeholder map. We deliver a decision memo with recommendation that survives two advisory board sessions.
Energy Value Levers
We make the energy-side value levers explicit in the investor memo and show how they improve returns - the decarbonisation upside made explicit for buyers.
Execution (Weeks 9-18)
Approach, negotiation, DD coordination, term sheet, SPA support. We secure transactional integrity through to the notary appointment and stay at the table - not as a service line, but as sparring for the critical moments.
Closing & Integration (Weeks 19+)
Closing mechanics, 100-day plan for post-merger or carve-out integration. Engagement ends only when the first quarterly KPIs run clean.
Model your transaction end to end.
Every recommendation on this page has a tool behind it.
DCF Valuation Terminal
Derive enterprise value cleanly from cash flows, growth and cost of capital.
Cap-Table Waterfall Simulator
See what each shareholder class receives at exit after liquidation preferences.
Earn-Out Structuring Simulator
Model earn-out thresholds and payouts for a fair purchase-price bridge.
Completion Accounts Bridge
Walk from enterprise to equity value with net debt and working-capital adjustments.
Carve-Out & TSA Simulator
Size stranded costs and transitional service agreements when separating a unit.
PMI Synergy Tracker
Track realisation of planned synergies across post-merger integration.
Carried Interest Fund Waterfall
Compute profit split between LPs and GP including hurdle rate and catch-up.
Scope
What this service covers
The M&A & Succession service supports transactions and handovers. It applies across sectors and deals with the acquisition, sale and handover of companies and parts of companies, including shareholdings, management buy-outs, carve-outs and special situations. Sector pages under M&A, such as Tech & Growth, belong to their sector; sector-specific risks are explored there, while the transaction process is covered here. Whether a company should grow, focus or divest parts of its business is clarified beforehand by the Strategy & Transformation service; M&A & Succession carries out the resulting transaction. The structure of family and private wealth around a generational change belongs to Wealth & Risk, and the ongoing management of portfolios to Asset Management. Asset sales and company acquisitions are clearly distinguished: selling a single property or plant is a topic for the relevant sector, while selling a company with employees, contracts and liabilities is a topic for this service. Legal and tax advice, notarisation and valuation opinions under professional standards are provided by licensed professionals.
Starting point
Mid-market transactions often fail on prerequisites missing before the process starts. Personal relationships, dependence on the owner, incomplete data and emotional attachment to one's own company shape the process more strongly than in large transactions. At the same time, a well-prepared transaction opens up real options: growth, focus, a viable succession or the orderly handover of a life's work.
Check readiness to sell or buy
Missing documents and unresolved risks cost time and negotiating position in the process. Whatever the buyer finds in due diligence before the seller has named it becomes an argument for discounts, additional warranties or a deferred portion of the purchase price.
Structure succession
Generational handovers need a clear path with the experts involved. Handover within the family, a management buy-out, a sale or a gradual solution each have different prerequisites, time requirements and consequences for the family, employees and customers. Those who only decide under time pressure have fewer options.
Understand valuation and material risks
Two valuations of the same company can differ considerably because growth, risk and adjustments are assumed differently. What matters is that the assumptions are disclosed and that enterprise value and the actual purchase price for the shares are kept clearly apart.
Buy side: growth, but not at any price
Anyone planning an acquisition needs a search profile that fits their own strategy, an independent view of value and due diligence that answers their own key questions. Without these foundations, chance decides on the target and the seller's side on the numbers.
Sell side: enquiries without a process
Many owners are approached by interested parties before they have decided for themselves. Without prepared documents, their own view of value and an orderly process, they lack the basis to compare offers and hold their negotiating position.
Companies with recurring portfolio revenues
Property managers, brokerage and insurance portfolios, energy service providers, portfolio holders and family offices often value companies by recurring revenues and customer retention. This logic calls for its own review points, for example on the stability of portfolios and the transferability of contracts.
Value is created or lost after closing
The purchase price is only part of the calculation. Whether an acquisition pays off becomes clear during integration: with customers, key people, processes and systems. Integration planning that only starts after closing often comes too late.
Special situations and regulated industries
Separating part of a company, cross-border transactions in the German-speaking region, acquisitions out of distress as well as permits, concessions and merger control considerably change the timetable, risk and structure of a transaction.
Many parties, one decision
Owners, management, boards, lawyers, tax advisers, notaries, auditors and lenders all contribute to a transaction. Without a coordinated process, clear roles and a shared list of open points, gaps, duplicated work and delays arise.
Transaction path with approval points
- Stage 01
Exploration
Check goals and readiness: owner goals, time frame, options and the actual decision to be made are clarified in confidence. Approval point: should a transaction or succession be prepared?
Levers
- Prerequisites clarified
- Owner goals and time frame recorded
- Roles and required specialists named
- Stage 02
Preparation
Data room and valuation assumptions: financial data are reconciled and adjusted, contracts and risks inventoried, gaps closed. Buyers sharpen their search profile and investment criteria.
Levers
- Complete data room
- Adjustments evidenced
- Owner dependence and concentrations identified
- Stage 03
Valuation and structure
Valuation range from at least two methods, purchase price bridge from enterprise value to the price for the shares, structuring options as a basis for legal and tax advice. Approval point: price expectation and structure.
Levers
- Assumptions disclosed
- Working capital and net debt defined
- Structuring options comparable
- Stage 04
Process: outreach and offers
Interested parties or targets are approached according to an approved list, information is shared in stages and after a confidentiality agreement, offers are made comparable. Approval point: selection for due diligence.
Levers
- Confidentiality maintained
- Offers compared against uniform criteria
- Competition among bidders where intended
- Stage 05
Process: due diligence
Outreach, due diligence, negotiation: the review areas of finance, legal, tax, operations, technical and regulatory are coordinated, findings are condensed into a risk matrix and assessed for their effect on price and contract.
Levers
- Transparent risks
- Queries answered promptly
- Findings with price and contract effect
- Stage 06
Negotiation and closing
Purchase price mechanics, warranties, indemnities and closing conditions are prepared from a commercial perspective; drafting and notarisation lie with lawyers and notaries. Approval point: signing and closing.
Levers
- Open points resolved by each deadline
- Closing conditions synchronised
- Day One prepared
- Stage 07
Transition
Closing and integration: handover to new owners or successors, Day One plan, 100-day plan, communication with employees and customers, and tracking of synergies and purchase price adjustments.
Levers
- Handover plan
- Key people and customers retained
- Synergies tracked against plan
Typical decisions
Sell, hand over or acquire?
The choice depends on owner goals, company situation and time frame. It also depends on the owner's desired role after the transaction, responsibility towards employees and whether the company can continue to grow on its own.
Options
- Sale
- Family succession
- Acquisition
- Continuation with external management
Which succession option fits?
Succession solutions differ in control, financing, time required and risk for those involved. The legal and tax structuring of each option is handled by lawyers, tax advisers and notaries.
Options
- Handover within the family
- Management buy-out by the existing leadership
- Management buy-in by external managers
- Sale to a strategic buyer or financial investor
- Gradual handover against ongoing payments or with a seller reinvestment
Who is a suitable counterparty?
Strategic buyers look for complementary business and synergies, financial investors for value growth within a limited period, family offices often for a longer horizon. The choice changes the process, review depth, financing and the company's future.
Options
- Strategic buyer
- Financial investor
- Family office
- Management or employees
Exclusive talks or a structured bidding process?
Exclusivity saves effort and protects confidentiality but forgoes comparable offers. A bidding process creates competition but requires thorough preparation and more discipline in the process.
Options
- Exclusive negotiation with one party
- Limited bidding process
- Broad bidding process
Asset deal or share deal?
The structure affects liability, tax burden, the transferability of contracts and permits, and the integration effort. The commercial consequences are prepared in a comparable form; the legal and tax assessment is provided by the parties' advisers.
Options
- Asset deal
- Share deal
- Combination of both
Fixed price at the reference date or adjustment after closing?
With a locked box, the price is fixed on the basis of a reference balance sheet and value leakage until closing is excluded. With completion accounts, the price is adjusted after closing using closing-date accounts, which offers more protection where figures fluctuate but requires more alignment after closing.
Options
- Locked box
- Completion accounts
- Hybrid model
How can a valuation gap be bridged?
If price expectations differ, variable or deferred purchase price components can help. Each form shifts risk between the parties and needs clear definitions, otherwise disputes arise after closing.
Options
- Earn-out with a defined target measure
- Vendor loan
- Seller reinvestment
- Staggered acquisition
- Adjustment of the fixed price
How deep should due diligence go?
The depth of review depends on transaction size, industry, data situation and time pressure. In regulated industries and for real estate or plants, technical and regulatory review areas are added.
Options
- Focused review of material risks
- Full review of all areas
- Staged review with exit criteria
- Use and supplement the seller's vendor due diligence
Acquire, invest or cooperate?
Not every growth objective requires a full takeover. Shareholdings and partnerships reduce capital requirements and integration risk but provide less control.
Options
- Full takeover
- Majority or minority shareholding
- Strategic partnership
- Organic build-up
How far should integration go after closing?
The depth of integration determines synergies, effort and risk for customers and employees. It should be settled before signing because it affects the purchase price and transitional arrangements.
Options
- Continue as a stand-alone business
- Integrate selected functions
- Integrate fully
Value levers and how to measure them
Normalised earnings (EBITDA)
- Metric
- EBITDA in EUR per year, reported and adjusted, with a reconciliation for each adjustment item (one-off effects, owner remuneration at market level, services between related companies)
- Effect
- Forms the basis of every earnings-based valuation; adjustments without evidence are removed or discounted in due diligence.
Cash flow quality
- Metric
- Operating cash flow in EUR per year and its ratio to EBITDA in per cent, over several financial years
- Effect
- Shows whether earnings actually turn into liquidity and determines how much financing an acquisition or management buy-out can support.
Capital employed (working capital)
- Metric
- Net working capital in EUR and in days (receivables, inventories, payables), as monthly values over at least one year to derive the reference value
- Effect
- Determines the purchase price adjustment at the reference date; seasonal swings and one-off effects shift the purchase price if the reference value is not properly derived.
Working capital and net debt sensitivity
- Metric
- Net debt in EUR at the reference date according to the contractual definition, plus the change in purchase price in EUR per 100,000 EUR deviation in working capital or debt-like items
- Effect
- Makes purchase price mechanics traceable and shows which contractual definitions move the largest amount.
Investment requirements
- Metric
- Catch-up and regulatory capital expenditure in EUR per year over the planning period, split into maintenance and growth
- Effect
- An undetected investment backlog reduces value for buyers; an evidenced investment plan removes arguments for discounts from the negotiation.
Time to closing
- Metric
- Weeks per process phase from approval to signing and to closing, plus the number of open closing conditions per week
- Effect
- Shows where the process is slowing down; long phases increase the risk that bidders drop out or that business figures change during the process.
Risk concentration
- Metric
- Share of revenue in per cent for the largest customer and supplier, share of revenue from contracts with change-of-control clauses and share of key relationships that depend on the owner
- Effect
- Concentrations and owner dependence are typical reasons for discounts, earn-outs or additional warranties; identified early, they can be reduced or secured contractually.
Manageability and readiness per review area
- Metric
- Readiness per documented review area (finance, legal, tax, HR, IT, operations) as the share of fully evidenced requirements in per cent; open review and contract points as a number by criticality
- Effect
- Shows before the process starts which gaps cost negotiating position and makes progress in preparation verifiable for owners and boards.
Data quality
- Metric
- Completeness of financial data: share of data room requests answered without follow-up in per cent; response time per query in working days
- Effect
- Reduces queries and discounts in due diligence.
Integration progress
- Metric
- Realised synergies in EUR per year against the synergy plan, split into costs and revenue, one-off integration costs in EUR and retention of key people and customers in per cent per quarter after closing
- Effect
- Tests whether the assumptions on which the purchase price was based actually materialise after closing.
Risks and early indicators
| Risk | Early indicator | Countermeasure |
|---|---|---|
| RiskFinancial data and adjustments without evidence | Early indicatorAnnual accounts and internal reporting cannot be reconciled; adjustments are claimed but not evidenced | CountermeasureReconciliation per item before the process starts, readiness review or vendor due diligence |
| RiskDependence on the owner | Early indicatorCustomers, suppliers and key decisions run through one person; there is no established second management level | CountermeasureHandover plan, deputies and a broader base for customer relationships; agree transitional support from the seller |
| RiskTime pressure in succession | Early indicatorNo succession timetable, the reason for handover is approaching, enquiries from interested parties are answered without an orderly process | CountermeasureDraw up a succession timetable and review options in parallel while choices still exist |
| RiskDisputes over purchase price mechanics | Early indicatorDefinitions of working capital and net debt are missing from the term sheet; monthly values fluctuate strongly | CountermeasureDerive the reference value from monthly data, agree definitions early with legal counsel, choose locked box or completion accounts deliberately |
| RiskConflicts over variable purchase price components | Early indicatorThe target measure of an earn-out is not defined; the buyer plans restructuring during the earn-out period | CountermeasurePrepare the measure, adjustments, conduct-of-business rules and review procedure commercially and have legal counsel put them into the contract |
| RiskHidden liabilities and contract risks | Early indicatorContracts are not recorded centrally; change-of-control clauses, guarantees or ongoing disputes are unknown | CountermeasureBuild a contract inventory, legal review by lawyers, list of warranty and indemnity needs for the negotiation |
| RiskPermits, concessions and merger control | Early indicatorThe transferability of industry-specific permits has not been checked; filing obligations and turnover thresholds are unclear | CountermeasureHave specialised advisers review them early and synchronise the timetable with the approvals |
| RiskUnresolved energy and technical risks | Early indicatorNo renovation or capex planning; buildings and plants without a current condition assessment | CountermeasureReview and document risks early, put the technical review and investment plan into the data room, explore sector specifics in the relevant sector |
| RiskOpen contract points before closing | Early indicatorGrowing list of open review points; signing or closing dates are postponed | CountermeasureKeep a due diligence and action list with owners and deadlines |
| RiskFinancing does not hold | Early indicatorThe business plan only just covers debt service; lenders demand additional collateral or equity | CountermeasureCash flow model with scenarios, align the financing structure early with lenders, consider a vendor loan or seller reinvestment |
| RiskLoss of confidentiality | Early indicatorRumours among staff or in the market; data room access without a log | CountermeasureConfidentiality agreements, staged data release and a prepared communication plan |
| RiskLoss of value during integration | Early indicatorNo integration plan at signing; key people resign, customer complaints increase | CountermeasureIntegration planning alongside due diligence, Day One and 100-day plan, communication and retention measures |
Links to the five sectors
- Go to topic: Real EstateAsset and company transactions: acquisitions, sales and reallocation require a clear distinction between selling a property and selling a company, plus technical review, investment requirements and real estate transfer tax questions, which tax advisers clarify.
- Go to topic: EnergyTransactions and partnerships in the energy industry: consolidation among utilities and service providers, EnergyTech shareholdings, concessions and regulated revenues, plus energy risks that affect valuation and contract.
- Go to topic: Tech & GrowthAcquisition and integration of technology companies: review of rights, recurring revenues and normalised EBITDA, earn-outs to bridge valuation gaps and the integration of teams and systems.
- Go to topic: HealthcareSuccession and transactions of medical care centres: handover of practices, medical care centres and facilities with licensing questions, earnings normalisation, due diligence and integration after an acquisition.
- Go to topic: EducationSuccession and growth of education providers: handover of owner-managed providers, mergers and acquisitions in which accreditations, contracts with commissioning bodies and key people determine transferability.
Approach
- Step 1
Explore in confidence
A structured conversation under confidentiality clarifies the starting position, owner goals, time frame and the actual decision to be made. Roles, required specialists and scope limits are disclosed.
Result: Engagement scope with question, roles and next steps
- Step 2
Check readiness
Record company, owner goals and data room status. Financial data, contracts, organisation and risks are checked per review area against the requirements of a transaction.
Result: Transaction readiness review
- Step 3
Prepare valuation and options
Valuation range from several methods, purchase price bridge and sensitivities, and a comparison of the options for sale, succession or acquisition, as a decision paper for owners and boards.
Result: Valuation and assumptions overview with decision paper
- Step 4
Structure the process
Plan valuation assumptions, due diligence and timeline: data room index, documents, outreach or search list for approval, timetable with approval points and alignment with legal and tax advisers.
Result: Process and handover plan
- Step 5
Manage the transaction
Outreach and comparison of offers, coordination of the due diligence areas, consolidation of findings and commercial preparation of the negotiation up to the closing conditions.
Result: Due diligence and action list, risk matrix, negotiation documents
- Step 6
Support closing and transition
Closing conditions, Day One and the first hundred days are prepared and followed up, including purchase price adjustment, communication and synergy tracking.
Result: Closing checklist, Day One and 100-day plan
Scope of service
Scope limits
- No guaranteed purchase prices, closings, timetables or financing.
- No legal or tax advice; notaries, lawyers and tax advisers provide it.
- Purchase agreements, shareholder agreements and warranty catalogues are drafted and negotiated by lawyers; AME prepares the commercial content.
- Tax structuring, for example when choosing between an asset deal and a share deal or in succession and inheritance, is the responsibility of tax advisers.
- Valuations serve as a basis for decisions; valuation opinions under professional standards are prepared by auditors.
- Asset sales and company acquisitions are clearly distinguished.
- This service does not include brokering real estate, financial investments or financing.
- No commitments regarding specific buyers, investors or networks; only parties approved by the owners are approached.
Decision rights
- Owners decide on acquisition, sale and succession.
- Starting the process, the outreach list, release of information, exclusivity, acceptance of an offer, signing and closing lie with the owners and the boards responsible under the articles.
- On the buy side, management, the investment committee or shareholders decide on the offer, purchase price and withdrawal.
- Lawyers, tax advisers, notaries and auditors are responsible for their own work results.
- AME coordinates and prepares but is neither buyer nor seller.
- AME does not act for buyer and seller at the same time in the same transaction.
Information needed
- Company and ownership structure with goals
- Financial data and planning
- Annual accounts, internal reporting and an overview of adjustments
- Monthly working capital figures as well as financing agreements and debt-like items
- Material contracts and operating data
- Customer and supplier structure with revenue shares, contracts with change-of-control clauses
- Organisation, key people, remuneration and participation arrangements
- Permits, concessions, intellectual property and the condition and investment plan of buildings and plants
- Data room status and critical open points
- Owners' expectations on price, time frame, their own role after the handover and treatment of employees
- On the buy side: search profile, investment criteria, financing framework and integration concept
Deliverables
- Transaction readiness review
- Valuation and assumptions overview
- Due diligence and action list
- Process and handover plan
- Decision paper with recommendation and alternatives
- Purchase price bridge from enterprise value to the price for the shares, with sensitivities
- Comparison of structuring options as a basis for legal and tax advice
- Buy side: search profile and assessed list of potential targets
- Sell side: anonymised teaser, information memorandum and data room index
- Risk matrix with the price and contract effect of findings
- Succession timetable with options and prerequisites
- Day One and 100-day plan for the transition
From enterprise value to purchase price: the effect of adjustments and working capital
Hypothetical example with freely chosen, rounded model values and no link to any company, mandate or market level
- Method
- Simplified purchase price bridge: normalised EBITDA multiplied by an assumed valuation factor gives the enterprise value; net debt and the deviation of working capital from the agreed reference value are then deducted according to the logic of completion accounts. For comparison, the same calculation is shown without adjustments and without a working capital adjustment.
- Period
- EBITDA for the twelve months before the reference date; net debt and working capital at the closing date.
| Item | Value | Unit |
|---|---|---|
| Reported EBITDA | 1,400,000 | EUR per year |
| Adjustments | -150,000 | EUR per year |
| Normalised EBITDA | 1,250,000 | EUR per year |
| Assumed valuation factor (model value) | 8.0 | factor |
| Enterprise value (normalised EBITDA times factor) | 10,000,000 | EUR |
| Value effect of the adjustments (150,000 times 8.0) | -1,200,000 | EUR |
| Net debt | -2,000,000 | EUR |
| Working capital adjustment (1,200,000 minus 1,500,000) | -300,000 | EUR |
| Purchase price for the shares (equity value) | 7,700,000 | EUR |
| Comparison: without adjustments and without working capital adjustment (1,400,000 times 8.0 minus 2,000,000) | 9,200,000 | EUR |
| Difference between the two calculations | 1,500,000 | EUR |
Assumptions
- Reported EBITDA of 1,400,000 EUR per year
- Adjustments totalling 150,000 EUR per year: a one-off gain from the sale of a plant of 100,000 EUR and owner remuneration 50,000 EUR below market level
- Valuation factor of 8.0 as a freely chosen model value, no statement about market multiples
- Net debt of 2,000,000 EUR at the reference date
- Agreed working capital reference value 1,500,000 EUR, actual value at the reference date 1,200,000 EUR
- Taxes, transaction costs, earn-outs, warranties and financing are not considered
Limits
The example only illustrates the mechanics and does not replace a valuation. In practice, several methods are combined, such as discounted cash flow, capitalised earnings and multiples, and the valuation is stated as a range. Which items count towards net debt and working capital is a matter for negotiation and is set out in the contract with legal counsel; tax consequences are clarified by tax advisers.
Further topics
Existing pages on this service, arranged by perspective and phase. Several entry points on the same topic remain available and are placed in context here: the pages on transaction readiness belong to M&A & Succession, and the sector pages under M&A explore the interface with their sector.
- For sellersPrepare a sale: value expectation, documents, discreet outreach and negotiation from the owner's perspective.Open page
- For buyersStructure an acquisition: search profile, target selection, due diligence and negotiation from the acquirer's perspective.Open page
- For private equitySector-specific review, value creation plan and documents for investment committees.Open page
- Private equity: audience pageSecond entry point for financial investors; which of the two pages leads is still open.Open page
- Portfolio M&A for family officesDirect investments, consistent valuation benchmarks and buy-and-build; the wealth structure behind them belongs to Wealth & Risk.Open page
- Check transaction readiness (page in progress)Collection point for the question of whether a company is ready for a sale or handover.Open page
- Succession & acquisitionsSuccession readiness in the mid-market.Open page
- Strategic preparation of a transactionThe strategic side of transaction readiness; the transaction itself is supported by this service.Open page
- Management participation and MBOSuccession by the company's own leadership: participation models, pricing, financing and shareholder rules.Open page
- Succession timelineTool for the question of when to start preparing a handover.Open page
- Business succession and inheritance taxOrientation on relief rules for transfers; tax structuring is handled by tax advisers.Open page
- Valuation methodsDiscounted cash flow, multiples, capitalised earnings and net asset value compared, with ranges instead of point values.Open page
- Valuation calculatorInitial orientation on the range of enterprise value based on your own inputs.Open page
- Due diligence processReview areas, data room analysis, management interviews and a report on material risks.Open page
- M&A transaction due diligenceDue diligence in the transaction process, focusing on technical, financial and ESG questions in real estate and energy transactions.Open page
- Deal structuringAsset deal, share deal and variable purchase price components compared commercially.Open page
- Locked box and closing accountsPurchase price mechanics, reference balance sheet, leakage and working capital definition.Open page
- Earn-out structuresTarget measures, protective rules, calculation and security for variable purchase price components.Open page
- SPA analysisCommercial assessment of warranties, indemnities and liability caps; the legal review lies with lawyers.Open page
- Post-merger integrationIntegration planning before closing, Day One, 100-day plan and stabilisation.Open page
- 100-day plan from a strategy perspectiveThe 100-day plan for strategic realignments; after an acquisition, post-merger integration applies.Open page
- Carve-out transactionsSeparating part of a company with stand-alone capability, transitional services and a separation plan.Open page
- Cross-border transactions in the DACH regionDifferences between Germany, Austria and Switzerland, coordinated with local advisers.Open page
- Distressed M&A and restructuringAcquisitions out of distress: acquisition routes, accelerated review, liquidation and going-concern value.Open page
- M&A in the Tech & Growth sectorTransactions with technology companies; the sector itself is covered under Tech & Growth.Open page
- M&A with PropTech companiesInterface between the real estate industry and technology.Open page
- M&A with EnergyTech companiesInterface between the energy industry and technology.Open page
- EnergyTech deal readinessTool for the transaction readiness of EnergyTech companies.Open page
- Medical care centre transactionsSuccession and transactions of medical care centres in the Healthcare sector.Open page
- Buy-side outreachEntry point for buyers considering a structured search mandate.Open page
- M&A and strategyHow target picture and transaction are connected.Open page
- M&A and AIHow data and AI can support review and integration.Open page
- M&A questionsKey terms from letter of intent to integration in brief.Open page
Method and evidence
Only content already published. Figures appear only with evidence. The linked pages describe method, approach and tools; they are not evidence of impact for individual transactions. Calculation tools only deliver results based on the assumptions entered and replace neither valuation opinions nor legal or tax advice.
Frequently asked questions
Does AME handle the legal structuring of a succession?
No. AME coordinates and prepares; legal and tax structuring is handled by licensed partners. This includes purchase agreements, shareholder agreements, notarisation and the tax structure. AME provides the commercial foundations, coordinates the process and keeps the open points together.
Does AME support buyers or sellers?
Both sides, but never at the same time in the same transaction. Sellers are supported with preparation, outreach and negotiation, buyers with search profile, target selection, due diligence and integration.
How does M&A & Succession differ from Strategy & Transformation?
Strategy & Transformation clarifies where a company should develop and whether growth should be organic or through acquisitions. M&A & Succession carries out the resulting transaction, from the search profile or sale preparation to integration.
How does succession here differ from Wealth & Risk?
M&A & Succession deals with the handover of the company: options, valuation, buyers or successors, process and transition. Wealth & Risk deals with the structure of family and private wealth around this change. In a succession, the two often interlock.
When should preparation for a succession begin?
Well before an occasion becomes pressing. Preparation usually takes more time than the actual sale or handover process, because data, owner dependence and succession options must be clarified first. The succession timeline helps with an initial assessment.
How long does a transaction take?
That depends on the target profile, data quality, structure and any approvals required. A careful transaction should be planned in months rather than weeks. There are no commitments on dates, but there is a timetable with approval points that makes deviations visible early.
What is the difference between enterprise value and purchase price?
Enterprise value values the business. The purchase price for the shares (equity value) follows from it after deducting net debt and after adjustments, for example for working capital. The worked example above shows the mechanics.
Asset deal or share deal: which is better?
That depends on liability, taxes, the contract situation, permits and integration effort. AME sets out the commercial consequences of the options; the legal and tax assessment is provided by lawyers and tax advisers.
What is vendor due diligence?
A review commissioned by the seller before the process. It reveals risks early, allows them to be resolved or disclosed openly and shortens the buyers' review, but does not replace it.
When does an earn-out make sense?
When price expectations differ and the uncertainty can be tied to a measurable figure. The target measure, adjustments, rules for management during the earn-out period and the review procedure must be clearly defined.
Is there a network of buyers or investors?
Outreach is based on a list drawn up for each project on the basis of a search profile and approved by the owners. There are no commitments regarding specific buyers, investors or a closing.
How does a sale process remain confidential?
Information is only released after a confidentiality agreement and in stages, first anonymised and later in the data room. The owners decide on every release, and a communication plan sets out when employees and customers are informed.
Explore a mandate in a structured conversation.
60 minutes under NDA. We give you an honest assessment whether and in what form a mandate would hold - at no cost, no follow-up obligation.