Business need

An independent European PE firm, specialising in mid-market buyouts

Business Objectives / Goals

  • Identify potential acquisition targets for investment
    • Sector: Manufacturing and services for agriculture
    • Firm type: Private and public
    • Target size: EBITDA range of €10-30 million, with EBITDA margin >= 10% (implied revenue range of €50-300 million)
    • Geographic focus: UK, France, Germany, Ireland, Austria, Switzerland, Benelux and Nordics

Approach and Methodology

  • Considering the high degree of fragmentation, and unstructured and niche nature of the sector, identified major segments based on technology and average size of firms.
  • Few of the lucrative segments identified were smart farming and food testing
  • For the shortlisted segments, built a comprehensive list of companies leveraging primary and secondary sources
  • Percentile ranked public targets based on key financial KPIs and calculated weighted average scores (0-10) to measure relative attractiveness
  • Screened private and public targets on investment triggers such as market position, stated expansion plans, partnership, focus on innovation, M&A, etc.
  • Shortlisted 13 potential targets and created investment thesis for client’s internal evaluation

Business outcomes

  • 22% increase in client visibility on potential targets
  • Assistance in raising funds to the tune of €0.8BN+
  • 300+ analyst hours saved in deal origination
  • 13 investment gems identified from a list of 500+ companies

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