Mergermarket Germany Forum

20-21 March 2019, InterContinental Hotel, Düsseldorf

Inspiring Insights on M&A, Private Equity & Financing

20 - 21 March 2019


InterContinental Hotel
Düsseldorf
#MMGer19
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  • Funding alternatives and opportunities for Germany’s Mittelstand

    • 09:30

      Registration and coffee

    • 10:00

      Welcome remarks

    • 10:15

      Keynote: 2019 outlook the macro view

      As the powerhouse of the European economy, the state of the German economy attracts significant amounts of attention. An economist will give a macro outlook, considering risks and opportunities for Germany’s economic growth and capital markets.

    • 10:45

      Panel: Financing Transactions in Germany

      As the trend to covenant light and covenant loose documentation continues, what does this mean for the market? Continued cheap financing and readily available cash have given the PE industry another strong year in 2018, with only a slight decrease in the number and value of deals in the DACH region as compared to the preceding year. A panel of leading financial sponsors discuss their outlook on the German LBO market.

      Holger Kleingarn
      Holger Kleingarn
      Managing Director, H.I.G Capital
      Johannes  Messing
      Johannes Messing
      Head of Corporate Leveraged Finance DACH, J.P. Morgan
    • 11:30

      Networking coffee

    • 12:00

      Panel: Views on Direct Lending in Germany

      The number of debt funds providing alternative financing continues to rise with increasing market share, offering an alternative to traditional German bank financing. Panellists will discuss the opportunities in sponsorless lending and views for potential growth in this sector. What are the reasons investors choose sponsorless lending over its alternatives?

      Oliver Wolter
      Oliver Wolter
      Deputy General Manager, Head of Leveraged Finance, SMBC
      Fabian Graber
      Fabian Graber
      Reporter, Debtwire
    • 12:45

      Panel: Carve Outs and Spin-offs

      Germany has seen a burst of splits, spin-offs and carve-outs as firms seek to streamline their structure, focus their energies, and release pent-up value in divisions that can stand alone. Corporate carve outs are expected to dominate German IPOs in 2019 with recent examples like Siemens’ Healthineers. Panellists will discuss the market sentiment and pipeline for 2019 as well as challenges and opportunities associated with spin-offs and carve-outs.

    • 13:30

      Networking lunch

    • 14:30

      Mittelstand Fireside chat

      On stage interview with a CFO of German Mittelstand discussing their perspective on the corporate financing environment. What characteristics do Mittelstand companies look for in terms of financing and refinancing? What are the main drivers of Mittelstand to seek debt financing?

    • 15:00

      Panel: Mittelstand M&A Opportunities

      This session will look at how Germany's hidden ‘champions’ are competing on a global playing field through acquisitions. What attracts financial investors to German Mittelstand companies and what are their needs? What can financial investors contribute?

    • 15:45

      Closing remarks

  • Cross border, digitalization and dealmaking opportunities

    • 09:00

      Registration and coffee

    • 09:15

      Breakfast seminar: Developments and trends in transactional risk insurance and W&I insurance in Germany

      Developments and trends in transactional risk insurance, next generational risk transfer including a discussion on whether Increased competition among insurers and improved policy terms make the German W&I insurance market more favourable to investors. In auction processes, the availability of W&I insurance can sweeten the bid and from the seller’s perspective, reduce caps. Our breakfast seminar returns to discuss practical cases, new trends in designs of W&I, transactional and next generational risk and lessons learned.

    • 10:00

      Welcome remarks

    • 10:15

      Keynote: US Macro Outlook

      Presentation on trends of US acquirers inbound activity in Germany. Geopolitical issues of Trump trade wars and its impact on investment into Europe.

    • 10:35

      Keynote: Asia Macro Outlook

      Chinese investors have been less active in the German market due to additional regulations from the Chinese government to limit capital drains and Germany's tightening foreign investment rules. The presenter will consider what role China will play in 2019 M&A transactions, in particular in the technology sector, bearing in mind China’s “made in China 2025” strategy.

    • 10:55

      Panel: M&A Deal Drivers in Germany

      DACH M&A has the potential to see a rebound in the coming months given current favourable market conditions, namely high available levels of liquidity and a strong regional economy. Panel of M&A practitioners will discuss the outlook and what is driving deal activity for 2019. Which sectors will be the most active?

    • 11:40

      Networking coffee

    • 12:10

      Case study: German Mega Deal

      Insight into a recent successful mega transaction involving a Germany company. Examples: EON/RWE, Vodafone/UPC.

    • 12:40

      Panel: Private Equity and the Road to Exit

      On the back of readily available dry-powder and financing options, private equity has been enjoying strong momentum. Private equity funds discuss the environment for exits. Where are they seeing the biggest opportunities?

    • 13:25

      Networking lunch

  • 14:25

    Origination: Strategy, Culture and Price

    In this session, our experts in deal origination will discuss strategies and how they have identified investment opportunities in the market with reference to German transactions. What are the key factors to consider acquisitions when selecting a target? How can completing one transaction then lead to a change in approach in future deal making for a company?

  • Cross Border Deals

    • 15:00

      Cross Border M&A

      Key trends across cross border transactions. The top inbound bidders into Germany came from United Kingdom, US and Switzerland. With US buyers more active than Asian in Germany- what opportunities are they looking for. How are geo-politics affecting cross border M&A? Cross border M&A as a tool for new market entry and customer access.

    • 15:45

      Best Practices: Post-merger integration

      This session will cover best practices for successful post deal. What are the keys to a successful integration and what are some of the pitfalls? How to deal with sensitives involving unique corporate and national cultures?

  • Technology

    • 15:00

      Technology: Innovation through Acquisition

      Innovation-through-acquisition has become a crucial complement to internal, organic innovation in a growing number of industries. How are companies evolving and innovating through acquisitions in Germany? How is technology driving M&A? How are start-ups in the fin-tech space benefiting from big players’ collaborations to scale and grow?

    • 15:45

      Best practices: Digital transformation of German companies

      The rapid spread of digital value-added activities have gathered enormous momentum in recent years on a global level and particularly in Germany. Our panel of experts will cover best practices on digital transformation using practical experience. How can individual business areas be successfully digitized? 

  • Funding alternatives and opportunities for Germany’s Mittelstand

    • 09:30

      Registration and coffee

    • 10:00

      Welcome remarks

    • 10:15

      Keynote: 2019 outlook the macro view

      As the powerhouse of the European economy, the state of the German economy attracts significant amounts of attention. An economist will give a macro outlook, considering risks and opportunities for Germany’s economic growth and capital markets.

    • 10:45

      Panel: Financing Transactions in Germany

      As the trend to covenant light and covenant loose documentation continues, what does this mean for the market? Continued cheap financing and readily available cash have given the PE industry another strong year in 2018, with only a slight decrease in the number and value of deals in the DACH region as compared to the preceding year. A panel of leading financial sponsors discuss their outlook on the German LBO market.

      Holger Kleingarn
      Holger Kleingarn
      Managing Director, H.I.G Capital
      Johannes  Messing
      Johannes Messing
      Head of Corporate Leveraged Finance DACH, J.P. Morgan
    • 11:30

      Networking coffee

    • 12:00

      Panel: Views on Direct Lending in Germany

      The number of debt funds providing alternative financing continues to rise with increasing market share, offering an alternative to traditional German bank financing. Panellists will discuss the opportunities in sponsorless lending and views for potential growth in this sector. What are the reasons investors choose sponsorless lending over its alternatives?

      Oliver Wolter
      Oliver Wolter
      Deputy General Manager, Head of Leveraged Finance, SMBC
      Fabian Graber
      Fabian Graber
      Reporter, Debtwire
    • 12:45

      Panel: Carve Outs and Spin-offs

      Germany has seen a burst of splits, spin-offs and carve-outs as firms seek to streamline their structure, focus their energies, and release pent-up value in divisions that can stand alone. Corporate carve outs are expected to dominate German IPOs in 2019 with recent examples like Siemens’ Healthineers. Panellists will discuss the market sentiment and pipeline for 2019 as well as challenges and opportunities associated with spin-offs and carve-outs.

    • 13:30

      Networking lunch

    • 14:30

      Mittelstand Fireside chat

      On stage interview with a CFO of German Mittelstand discussing their perspective on the corporate financing environment. What characteristics do Mittelstand companies look for in terms of financing and refinancing? What are the main drivers of Mittelstand to seek debt financing?

    • 15:00

      Panel: Mittelstand M&A Opportunities

      This session will look at how Germany's hidden ‘champions’ are competing on a global playing field through acquisitions. What attracts financial investors to German Mittelstand companies and what are their needs? What can financial investors contribute?

    • 15:45

      Closing remarks

  • Cross border, digitalization and dealmaking opportunities

    • 09:00

      Registration and coffee

    • 09:15

      Breakfast seminar: Developments and trends in transactional risk insurance and W&I insurance in Germany

      Developments and trends in transactional risk insurance, next generational risk transfer including a discussion on whether Increased competition among insurers and improved policy terms make the German W&I insurance market more favourable to investors. In auction processes, the availability of W&I insurance can sweeten the bid and from the seller’s perspective, reduce caps. Our breakfast seminar returns to discuss practical cases, new trends in designs of W&I, transactional and next generational risk and lessons learned.

    • 10:00

      Welcome remarks

    • 10:15

      Keynote: US Macro Outlook

      Presentation on trends of US acquirers inbound activity in Germany. Geopolitical issues of Trump trade wars and its impact on investment into Europe.

    • 10:35

      Keynote: Asia Macro Outlook

      Chinese investors have been less active in the German market due to additional regulations from the Chinese government to limit capital drains and Germany's tightening foreign investment rules. The presenter will consider what role China will play in 2019 M&A transactions, in particular in the technology sector, bearing in mind China’s “made in China 2025” strategy.

    • 10:55

      Panel: M&A Deal Drivers in Germany

      DACH M&A has the potential to see a rebound in the coming months given current favourable market conditions, namely high available levels of liquidity and a strong regional economy. Panel of M&A practitioners will discuss the outlook and what is driving deal activity for 2019. Which sectors will be the most active?

    • 11:40

      Networking coffee

    • 12:10

      Case study: German Mega Deal

      Insight into a recent successful mega transaction involving a Germany company. Examples: EON/RWE, Vodafone/UPC.

    • 12:40

      Panel: Private Equity and the Road to Exit

      On the back of readily available dry-powder and financing options, private equity has been enjoying strong momentum. Private equity funds discuss the environment for exits. Where are they seeing the biggest opportunities?

    • 13:25

      Networking lunch

  • 14:25

    Origination: Strategy, Culture and Price

    In this session, our experts in deal origination will discuss strategies and how they have identified investment opportunities in the market with reference to German transactions. What are the key factors to consider acquisitions when selecting a target? How can completing one transaction then lead to a change in approach in future deal making for a company?

  • Cross Border Deals

    • 15:00

      Cross Border M&A

      Key trends across cross border transactions. The top inbound bidders into Germany came from United Kingdom, US and Switzerland. With US buyers more active than Asian in Germany- what opportunities are they looking for. How are geo-politics affecting cross border M&A? Cross border M&A as a tool for new market entry and customer access.

    • 15:45

      Best Practices: Post-merger integration

      This session will cover best practices for successful post deal. What are the keys to a successful integration and what are some of the pitfalls? How to deal with sensitives involving unique corporate and national cultures?

  • Technology

    • 15:00

      Technology: Innovation through Acquisition

      Innovation-through-acquisition has become a crucial complement to internal, organic innovation in a growing number of industries. How are companies evolving and innovating through acquisitions in Germany? How is technology driving M&A? How are start-ups in the fin-tech space benefiting from big players’ collaborations to scale and grow?

    • 15:45

      Best practices: Digital transformation of German companies

      The rapid spread of digital value-added activities have gathered enormous momentum in recent years on a global level and particularly in Germany. Our panel of experts will cover best practices on digital transformation using practical experience. How can individual business areas be successfully digitized? 

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