Early search for successor leads to perfect result

IBB Fördertechnik GmbH
Documentation and project planning of lifts
Ulrich Hofmann & Sven Barig
Former Managing Partner

Relevant facts

Year of foundation

1993

Size of the company

35 employees

Project duration

1.5 years

Sales year

2022

Initial situation

IBB Fördertechnik GmbH is an engineering company for lift technology with almost 30 years of existence. The highly specialised company operates at two locations in Germany, employs around 30 people and covers a large part of the market in its sector. IBB Fördertechnik is characterised by long-term customer relationships with global players in the market and a high degree of crisis-proofing. In addition, IBB Fördertechnik GmbH offers a portfolio of digital services and after-sales services alongside its central project business. 

The two managing partners found each other at a young age and have stood side by side entrepreneurially since the company was founded.

Through an article about CARL in the Handelsblatt, Barig and Hofmann became aware of CARL. Thanks to the sound company evaluation and detailed analysis, they quickly decided to work with CARL. After initial discussions, they already felt that they had a personal understanding of their company and its potential.

Procedure

Barig and Hofmann had important factors on their side in their search for a successor. Without already having a concrete goal, they had dealt with the succession issue comparatively early. Consequently, there was no pressure situation that could put them in a disadvantageous negotiating position. This was an excellent prerequisite not only for successfully completing a sale, but also for finding the perfect successor for the company through a targeted approach to investors. It was a clearly formulated objective from the very beginning to sell the company preferably to a private buyer (MBI). The essential requirements for the process and the buyer included, among others: The desire for an adequate purchase price that reflects the value of the company, The buyer(s) should not only fit the company professionally, but especially also humanly and lead the company with a sustainable vision, A well-planned introduction process of the new owners into the day-to-day business, the strategy, the workforce as well as the customer and partner network. Thanks to the extensive network of MBI candidates registered on "CARL Connect", the transaction team had the best prerequisites to identify suitable candidates in a short time. After targeting potential buyers, several MBI candidates as well as financial investors expressed interest within a few weeks. Since Barig and Hofmann were in the comfortable position of not being under time pressure, they were able to weigh up their options for the optimal fit.

Result

In the case of IBB Fördertechnik GmbH, too, a clearly formulated objective at the beginning of the process accelerated the identification of suitable buyers within CARL's investor network. In the final phase, two Company Owner, who are very similar to Barig and Hofmann in many respects, were convincing. The new duo, which was convincing on a personal and entrepreneurial level, also shares the same attitudes towards sustainable corporate and employee management. The combination of the two successors, who will lead the company into the next generation with renewed vigour and the same principles, and the sales price achieved, the owners feel is a perfect overall result. IBB Fördertechnik GmbH will continue to be accompanied by Mr Barig and Mr Hofmann in an advisory capacity over the next two years to ensure a smooth handover.

"Thanks to our early search and especially the professional succession advice, we were able to find our perfect match. We can now be sure that our company is in the best hands and will be successfully continued."
Ulrich Hofmann & Sven Barig
Former Managing Partner

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