German Buyouts Adopting a Buy and Build Strategy

Key Characteristics, Value Creation and Success Factors

  • Authors
  • Nils Hoffmann

Table of contents

  1. Front Matter
    Pages I-XVIII
  2. Pages 1-5
  3. Pages 108-183
  4. Pages 184-188
  5. Back Matter
    Pages 189-252

About this book

Introduction

The number of follow-on acquisitions after the buyout of a company by a financial sponsor, so-called "buy and build strategies", has been increasing in Germany during the last years. Given that M&A transactions by strategic investors were not successful in at least half of the cases analyzed in former research studies, the question remains if and how financial sponsors manage to yield the ambitious target return of a minimum of 20% p.a. on the capital invested.

Within the frame of a case study and questionnaire-based research, Nils Hoffmann investigates the key characteristics of buy and build strategies affected by private equity investors in Germany between 1998 and 2003. The author analyzes which value drivers and management strategies financial sponsors use to generate the return targeted. Furthermore, the research presented provides evidence concerning key success factors of the most profitable buy and build strategies.

Keywords

Acquisition Beschaffungsmanagement Buyout Buyouts Private Equity SCM merger&acquisitions

Bibliographic information

  • DOI https://doi.org/10.1007/978-3-8349-9634-3
  • Copyright Information Betriebswirtschaftlicher Verlag Dr. Th. Gabler | GWV Fachverlage GmbH, Wiesbaden 2008
  • Publisher Name Gabler
  • eBook Packages Business and Economics
  • Print ISBN 978-3-8350-0698-0
  • Online ISBN 978-3-8349-9634-3
  • About this book