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    M&A Integration · Value CreationDay-100 PMO · IDW S 1 · J-Curve Waterfall

    M&A Post-Merger Integration & Synergy Realization Terminal

    Model, quantify, and track hard cost and revenue synergies in M&A transactions and roll-up platforms: 5-year J-curve cashflow waterfall, one-off restructuring payback, DCF synergy NPV, and Enterprise Value uplift.

    Cost synergiesSG&A, procurement & IT
    Revenue synergiesCross-selling & margin
    PaybackBreak-even < 24 months
    EV UpliftEBITDA multiple lever

    PMI & Synergy Parameters

    Cost Synergies (Run-Rate € p.a.)

    Revenue Synergies & Cross-Selling

    One-Off Integration Costs

    Run-Rate Synergies (Y3+)5.575.000 €4.000.000 € Kosten · 1.575.000 € Ertrag
    Enterprise Value Uplift47.387.500 €8.5x Exit Multiple
    One-Off Spend2.600.000 €Severance & IT rollout
    Payback Period13 Months1276% ROI on spend

    5-Year Synergy Waterfall & J-Curve

    WACC: 9.5% · Tax: 29.8%
    YearCost SynergiesRev SynergiesOne-Off SpendNet Cash (Post-Tax)Cumulative
    Jahr 1+1.200.000 €+236.250 €-1.560.000 €-123.750 €-123.750 €
    Jahr 2+3.000.000 €+866.250 €-780.000 €+2.166.548 €+2.042.798 €
    Jahr 3+4.000.000 €+1.338.750 €-260.000 €+3.565.283 €+5.608.080 €
    Jahr 4+4.000.000 €+1.575.000 €-0 €+3.913.650 €+9.521.730 €
    Jahr 5+4.000.000 €+1.575.000 €-0 €+3.913.650 €+13.435.380 €

    Synergies by Workstream

    SG&A & Corporate Overhead1.400.000 € (25.1%)
    Procurement & Volume Discounts1.100.000 € (19.7%)
    Operations & Facility Footprint850.000 € (15.2%)
    IT, ERP & License Harmonization650.000 € (11.7%)
    Cross-Selling & Geo Expansion (Gross Profit)1.575.000 € (28.3%)

    Executive Value Creation Insights

    • •Run-Rate Hebel: 5.575.000 € p.a. nachhaltige EBITDA-Steigerung nach voller Integration (Jahr 3).
    • •Wertschöpfung: 47.387.500 € potenzieller Enterprise Value Uplift bei 8.5x Exit-Multiple.
    • •Amortisation: Break-even der Einmalkosten (2.600.000 €) in ca. 13 Monaten erreicht.
    • •Day-100-Governance: Wöchentliches PMO-Tracking mit RAG-Meilensteinen zur Vermeidung von Churn und Execution-Delay empfohlen.

    Executive PMI Dossier & Export

    # AME STRATICON · EXECUTIVE AUDIT DOSSIER ## M&A Post-Merger Integration & Synergy Realization Assessment **Datum:** 2026-10-06 | **Status:** STABILIZED RUN-RATE PROJECTION | **WACC:** 9.5% --- ### 1. Finanzielle Ausgangsbasis & Synergie-Ziele - **Kombinierter Jahresumsatz:** 85.0 M € - **Kombiniertes Basis-EBITDA:** 11.5 M € - **Ziel-Kostensynergien (Run-Rate):** 4.000.000 € p.a. - **Ziel-Umsatzsynergien (Rohertrag):** 1.575.000 € p.a. - **Gesamte EBITDA-Run-Rate-Synergien (Jahr 3+):** 5.575.000 € p.a. --- ### 2. Wertschöpfung & Exit-Multiple Arbitrage - **Target EV/EBITDA Multiple:** 8.5x - **Enterprise Value Uplift:** 47.387.500 € - **Kapitalisierter Synergie-Barwert (DCF NPV):** 35.786.754 € --- ### 3. Einmalige Integrationskosten & Amortisation - **Gesamte Einmalkosten (CapEx & Restrukturierung):** 2.600.000 € - Abfindungen / Sozialplan: 1.200.000 € - IT / ERP Migration: 950.000 € - Retention & Change Management: 450.000 € - **Break-Even / Amortisationsdauer:** 13 Monate - **ROI auf Integrationsaufwand:** 1276% --- ### 4. 5-Jahres-Cashflow-Wasserfall (J-Curve) - **Jahr 1:** Brutto +1.436.250 € | Einmalkosten -1.560.000 € | Netto (Post-Tax) -123.750 € | Kumuliert -123.750 € - **Jahr 2:** Brutto +3.866.250 € | Einmalkosten -780.000 € | Netto (Post-Tax) +2.166.548 € | Kumuliert 2.042.798 € - **Jahr 3:** Brutto +5.338.750 € | Einmalkosten -260.000 € | Netto (Post-Tax) +3.565.283 € | Kumuliert 5.608.080 € - **Jahr 4:** Brutto +5.575.000 € | Einmalkosten -0 € | Netto (Post-Tax) +3.913.650 € | Kumuliert 9.521.730 € - **Jahr 5:** Brutto +5.575.000 € | Einmalkosten -0 € | Netto (Post-Tax) +3.913.650 € | Kumuliert 13.435.380 € --- ### 5. Strategische PMO-Empfehlungen - Run-Rate Hebel: 5.575.000 € p.a. nachhaltige EBITDA-Steigerung nach voller Integration (Jahr 3). - Wertschöpfung: 47.387.500 € potenzieller Enterprise Value Uplift bei 8.5x Exit-Multiple. - Amortisation: Break-even der Einmalkosten (2.600.000 €) in ca. 13 Monaten erreicht. - Day-100-Governance: Wöchentliches PMO-Tracking mit RAG-Meilensteinen zur Vermeidung von Churn und Execution-Delay empfohlen. *Erstellt mit dem AME STRATICON PMI Synergy Tracker. Keine Rechts- oder Steuerberatung im Sinne des RDG/StBerG.*

    Methodology & PMI Best Practices

    Why is the J-Curve critical in PMI?

    During the first 12 to 18 months, 70-80% of one-off restructuring costs (severance, IT migration, PMO retainers) occur, while operational run-rate synergies take 24-36 months to ramp up.

    How is Enterprise Value Uplift calculated?

    Sustainable run-rate synergies flow directly into consolidated pro-forma EBITDA. At an 8.5x exit multiple, every million in captured permanent synergy creates 8.5 million in incremental enterprise equity value.

    Structuring an M&A integration or requiring independent PMO synergy realization governance?Request PMI Audit