CONFIDENTIAL
In 2020, our CEO was involved in the acquisition of a German industrial cleaning machine manufacturing business with 142 employees carved out from a Japanese conglomerate.
At the time of acquisition, the business reported revenues of 20m Euros and an EBITDA of negative 7m Euros. The company was suffering from severe mismanagement and neglect by its parent and was clearly a very distressed asset requiring turnaround.
From the outset we implemented a comprehensive overhaul of the business with a considerable financial contribution from the seller at closing, sufficient to cover 2 years of anticipated losses, providing the necessary financial stability to support the restructuring efforts.
Key initiatives involved rightsizing the business, which entailed a strategic reduction in the workforce and streamlining of operations.
Over a challenging three-year period, these efforts resulted in a significant reduction in losses and improved overall business performance. Ultimately, the restructured and stabilized company was sold to a strategic competitor, marking a successful exit.
