German M&A Deal Drivers for 2016
A panel of bankers and corporates sat down at the Mergermaket Germany Forum to discuss the outlook for their sectors and companies and the M&A drivers that will play in delivering growth. Here's what they said...
Sector: Pharmaceuticals
Drivers: Large transactions breading more transactions.
Dieter Veit, Head of M&A Germany, Société Générale puts it down to 3 reasons:
- They change the relative position for other players in the industry.
- Large deals come with a portfolio that that you don't need in its entirety - so you're going to sell things off that you don't want.
- Refinancing, you can split and refinance certain things that you have acquired or were part of your initial set up.
Sector: Technology
Drivers: Chinese Foreign investors
"Its a growing area where we will see more transactions. China has unlimited resource and are getting more and more professional in their activities. They have learnt a lot and are now are willing to pay money on advisers to help with their transactions." Christian Grandin, Partner, Livingstone
Sector: Financial Services (IT)
Drivers: Digital Transformation and Regulatory compliance
"M&A allows us to extent our regional footprint, compliment our service portfolio and ultimately provide a better service to our clients." Markus Kreitinger, Head of M&A and Business Development, GFT Technologies SE
Sector: Automotive
Drivers: Diversification
"At NORMA our strategy is clear, diversify the portfolio to diversify risk and dependency on one specific market. This was particularly helpful during dieselgate. Our second strategy to to identify trends in certain regions. For example in Australia we had 100% of sales in automotive. We noticed that American companies were moving out of that market so we changed track and now our portfolio is less than 20% in Australia." Thomas Gross, Director M&A, NORMA Group
Other topics discussed during the panel discussion at the Mergermarket Germany Forum, which attracts over 300 CEOs, CFOs and heads of M&A, include compliance becoming more important, high price expectations in germany and strategic buyers vs private equity buyers.
To get the whole outlook, watch the full presentation below.
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Hannah is responsible for speakers and event programmes at Acuris. She oversees Debtwire's European restructuring, leveraged finance and direct lending conferences. Hannah leads content for Mergermarket's M&A events, including in leading conferences in Germany, Italy, Africa and the Middle East.
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Dieter Veit is Head of M&A and Co-Head of Corporate Finance for the German speaking region at Société Générale with more than 18 years investment banking experience. He advised on more than 50 M&A and financing transactions successfully closed, representing a total value of close to €50bn. Besides his involvement in a broad range of sectors, Dieter has a particular focus on public takeovers. Before joining Société Générale in January 2015 he worked at Rothschild in Frankfurt and London. Dieter holds a master’s degree in business administration from the University of Passau.
Christian is co-founder and shareholder of Livingstone Germany, a mid-market M&A consultancy with offices in Beijing, Chicago, Dusseldorf, London, Madrid, Stockholm and they are currently launching a new office in L.A.. He has expert knowledge in the sectors industrial, consumer goods and business services. Before that, he worked as Managing Director and Partner for a German M&A consultancy where he was in charge of the increasing internationalization of the business and played a substantial role in founding a leading international partnership of independent M&A advisors. Christian has a business experience in M&A and private equity for more than 20 year.
Markus is Head of M&A at GFT Technologies SE, a publicly listed international IT services company. Since he joined in early spring 2014, Markus has been responsible for driving and executing GFT Group’s global M&A strategy.
Prior to that, he worked in international M&A roles within the Corporate Development department of two DAX 30 companies. He started his career in investment banking / M&A advisory and holds a Diploma in Business Administration from Friedrich-Alexander University Erlangen-Nuremberg.
Thomas is Head of M&A at NORMA Group SE. He joined NORMA Group in 2012 and since then completed seven acquisitions in Asia, Americas and the EMEA region including the largest investment since the foundation of NORMA Group. Prior to this, Thomas was an investment manager for Steadfast Capital in Frankfurt. During this time he focused on investments in the industrial and consumer goods industries. Before joining Steadfast Capital, Thomas held various international positions at M&A advisory firms.
Kerstin Kubanek is Mergermarket’s Senior Reporter for the German market. An expert on Behavioral Finance/Economics she previously worked for financial services companies as a freelance financial writer as well as for the German newswire dpa-afx. Prior to that, she was Content Manager and Finance Editor for the German website Yahoo! Finanzen Deutschland where she also had her own Behavioral Finance Blog „Die Psychologie des Geldes“. Kerstin also used to write sentiment reports for German banks as well as Deutsche Börse. Prior to that, she worked for a variety of media like the international Broadcaster CNBC Europe, the German newswire DAPD, the German arm of the US website AOL daily finance etc.