For owners
Company valuation
What your company is worth today, derived from your figures rather than a rule of thumb. With a range that holds up in a conversation with a buyer.
Enterprise value
5–200 Mio. Euro
EBITDA
0,5–25 Mio. Euro
Offices
Zug, München, Wien
Starting point
Typical situations
Three constellations owners usually come to us with.
Two to five years before a sale
Owners who still have time and want to use it. In that window the value can still be moved; once a process is running it cannot.
Succession in view, decision open
Anyone unsure whether to sell, hand over or carry on needs a reliable number first. The decision comes after that.
Shareholders who need a common basis
Settlements, inheritance, a partner joining: situations where several people need the same figure instead of each carrying their own in their head.
Scope
What we do
Four steps that build on each other. You take the decisions, we do the work.
- 01
Normalised earnings
We normalise the results of the past three to five years: managing director salary at market level, one-off effects out, private items out, rents and transfer prices at arm's length. What remains is the number a buyer will later negotiate over.
- 02
Indicative valuation
On that basis we derive a range, using multiples from comparable transactions and a capitalised earnings approach. Both calculated separately and held against each other, because a single method is only a single opinion.
- 03
Value levers, sorted by effect
We name the points that depress your value today and rank them by effort and effect. Not every weakness is worth fixing; some cost more to repair than they add to the price.
- 04
Roadmap and timing
What to resolve beforehand, what runs alongside a process and what belongs in the contract rather than in the company. Plus an honest view on when a sale makes sense and when it does not.
The price is made in the preparation, not in the negotiation
Negotiation can still move the purchase price by a few percent. The order of magnitude is decided by what the buyer finds when the books are opened. A finding you disclose yourself gets priced in; the same finding surfacing in due diligence gets deducted — at a point where the buyer already holds exclusivity and you no longer have an alternative.
The most common discount in the German-speaking mid-market has no line in the balance sheet: dependence on the owner. When the key customer relationships, the pricing knowledge and the decisions all sit with one person, an investor is buying a company that is weaker without them. That can be changed, but not in six months. The same holds for customer concentration, unresolved contracts and accounts that do not survive scrutiny.
What you get is therefore not a report for the drawer, but a number with its derivation and a list sorted by effect. What you do with it is your decision. A sell-side mandate is explicitly not a precondition.
The four phases of a process are set out in the process overview, completed transactions under mandates.
Questions
Frequently asked
In practice there is no too early. It becomes useful two to five years before a possible sale, because the strongest levers need time: a second tier of management, recurring revenue, less dependence on individual customers. Starting six months out lets you tidy up the figures, but no longer the company itself.
No. The valuation is not a step towards a mandate, it is a basis for a decision. Some of the owners we start with this way do not sell in the following years but work through the points instead. That is a good outcome.
The calculator on this site gives you a rough range in five minutes, from revenue, earnings and a handful of qualitative questions. Here we look into the figures: we normalise the result against your own documents instead of estimating a normalisation, and we justify every assumption. The calculator tells you whether a conversation is worth having. This work tells you where you stand.
Contact
Let us get to know each other
A first conversation, in person or remote, with no obligation. We will tell you plainly whether and how we can help.