Renforcement de notre équipe « Technologies et Services industriels »
Investec a le plaisir d’accueillir Matthias Odrobina au poste d’Associé au sein de l’équipe allemande et en tant que membre senior de l’équipe internationale dédiée au secteur des technologies couvrant l’Europe, le Royaume-Uni, l’Afrique, les États-Unis et l’Asie. Il apportera des conseils M&A sur les opérations transfrontalières.
Matthias apporte une expertise sectorielle approfondie dans le domaine des technologies industrielles (avec un accent particulier sur les industries intelligentes, les logiciels B2B et la transformation numérique).
Il possède plus de 20 ans d’expérience auprès des conseils d’administration et des CEO dans le cadre de fusions, d’acquisitions, de cessions, de financements et de rachats, avec une spécialisation particulière dans le secteur industriel, les logiciels B2B et les services aux entreprises.
Contact: Matthias Odrobina
Michel Degryck, Managing Partner, figure parmi les banquiers d’affaires de référence en France selon MergerLinks (Datasite).
Cette distinction vient saluer son leadership reconnu et une exigence constante au service de ses clients.
Chaque transaction réussie repose avant tout sur une compréhension fine des enjeux, un discernement éclairé et des relations de confiance construites dans la durée.
Retrouvez les classements : Top Investment Bankers in France FY 2025
Nous sommes heureux d’annoncer une nouvelle expansion de nos services de conseil en M&A à l’international avec l’intégration de Capitalmind Switzerland sous la marque Investec.
L’équipe suisse, dirigée par Markus Decker et Thomas Ellenberger, est fière de rejoindre Investec, renforçant ainsi notre engagement commun à fournir des conseils et des solutions sur mesure en matière de fusions-acquisitions.
Il s’agit d’une étape importante pour notre équipe et nos clients, qui renforce notre présence et nos compétences à travers l’Europe.
Cette acquisition souligne notre engagement à développer nos activités de conseil, qui comptent désormais 300 professionnels des fusions-acquisitions répartis dans 17 bureaux à travers le monde, et complète l’offre intégrée d’Investec en Suisse, qui comprend la banque privée, la gestion de fortune et le direct lending.
« En réunissant nos professionnels des M&A à travers l’Europe, nous sommes en mesure d’apporter des idées nouvelles et des solutions sur mesure à nos clients en Suisse comme à l’international. »
– Markus Decker, associé gérant du bureau suisse
« Cette acquisition renforce notre présence en Suisse et améliore la collaboration mondiale, en connectant nos clients à des opportunités d’investissement internationales et locales. »
– Jonathan Arrowsmith, responsable des services bancaires d’investissement, Investec
Tous les membres de notre équipe suisse :
Markus Decker, Thomas Ellenberger, Yanik Costa, Dr. Miró Feller, Tim Graber, Kai Kiesinger, Lorenzo Mattei, Luca Stalder and Gabi Korolnyk
En savoir plus:
Retrouvez l’entretien de Michel Degryck, Managing Partner, dans le numéro de NextStep n°22 de juin 2025 consacré aux cessions d’entreprises détenues par des fonds d’investissement.
Les cessions des entreprises détenues par les fonds se font toujours au compte-goutte malgré la pression des investisseurs pour le retour de liquidité et l’allongement de la durée de détention firtant avec les sept années en moyenne. (…)
Extrait :
“”– Michel Degryck, Managing Partner, InvestecLa situation est très contrastée selon la taille des entreprises. Sur le large cap, les transactions sont gelées car les cibles sont plus exposées à l’international et aux incertitudes de l’environnement macro-économique, d’une part et à la raréfaction des acquéreurs potentiels à des valorisations conformes aux attentes des cédants, d’autres part.
Investec est fier d’annoncer que notre équipe France a reçu le Trophée d’Argent dans la catégorie Meilleure Banque d’Affaires – LBO Small to Mid Cap, lors du dernier Sommet des Leaders de la Finance à Paris.
Organisé par Décideurs Corporate Finance, cet événement met à l’honneur les acteurs les plus engagés et innovants du secteur, qui accompagnent avec succès des opérations stratégiques de grande envergure.
Nous remercions chaleureusement nos équipes pour leur engagement et leur professionnalisme, ainsi que nos clients pour leur confiance renouvelée.
Dans un marché des fusions-acquisitions de plus en plus exigeant, la question de la « préparation à la cession » (exit readiness) prend une importance croissante : stratégie, indicateurs clés, equity story, vendor due diligence – comment l’intégration précoce de la planification de la cession dans le développement stratégique de l’entreprise devient un facteur clé de succès.
Que peuvent réellement apprendre les dirigeants et propriétaires d’entreprise des rois du deal – les investisseurs en capital-investissement – en matière de préparation à la vente, afin de rendre les résultats de cession plus prévisibles et optimaux ?
Dans cet épisode de What’s up, Corporate Finance?, Thorsten Gladiator, Managing Partner chez Investec, et Sebastian Markowsky, Managing Director, échangent avec le journaliste économique Michael Hedtstück sur les enseignements que les entrepreneurs peuvent tirer des fonds de private equity en matière de préparation stratégique à la cession.
Les questions clés abordées :
- Que peuvent réellement apprendre les entrepreneurs des « Kings of deals » – les investisseurs financiers – en matière de préparation à la cession ?
- Existe-t-il un décalage manifeste entre la perspective à long terme adoptée par les fonds de private equity pour préparer leurs sorties et les horizons de planification M&A des dirigeants d’entreprise ?
- Quels sujets doivent impérativement être clarifiés en amont d’un processus M&A, plutôt que d’être laissés à l’appréciation de l’acheteur potentiel ? Dans quelle mesure est-il essentiel de bien répéter l’equity story et la présentation du management ?
- Quelle est la réalité pour les entreprises de taille intermédiaire ? Dans quelle mesure les dirigeants sont-ils prêts à s’inspirer des pratiques des fonds de private equity ?
Cliquez ici pour écouter le podcast :
What’s up, Corporate Finance? est un blog et un podcast du Finance Think Tank Network. Grâce à des analyses régulières et des décryptages approfondis sur des sujets liés au private equity, private & venture debt, corporate & investment banking, M&A, au financement et au restructuring, ils décryptent l’univers de la finance d’entreprise avec expertise et passion journalistique.
🎙 Écoutez le podcast, disponible sur toutes les plateformes d’écoute.
🎧 Web-Player: https://lnkd.in/eqKyB8Z4
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Notre équipe a été reconnue comme l’une des plus actives en 2024 en LBO, M&A et Debt Advisory selon l’étude annuelle menée par CF News, le media digital de référence de l’actualité des opérations de haut de bilan.
L’équipe se place une nouvelle fois sur les premières marches des classements :
- #4 sur le segment LBO
- #5 sur le M&A Small & Mid cap (valeur de transaction de 50 à 250 millions d’euros)
- #5 sur le Debt Advisory
Sous la direction de Michel Degryck, l’équipe française forte de 40 professionnels multisectoriels, a continué à travailler sans relâche dans un environnement de marché chahuté, et à délivrer des solutions sur mesure de grande qualité aux acteurs du private equity, aux entrepreneurs, aux groupes familiaux, et aux grands groupes.
Un grand merci à nos clients et partenaires pour leur confiance renouvelée.
« Cette reconnaissance témoigne de la confiance que nos clients nous accordent et de l’engagement sans faille de notre équipe. Nous restons déterminés à leur apporter des solutions innovantes et adaptées à leurs enjeux stratégiques. »
— Michel Degryck
Navigating Market Crosswinds Through Strategic M&A
The M&A market for industrial system integrators is currently experiencing decreased deal activity due to global uncertainty. Buyers have become more cautious, prioritizing strategic acquisitions in key end-markets and technologies.
Private equity firms remain highly active, leveraging buy-and-build platforms. With strong capital positions, strategic positioning in key end-markets and technologies, players are well-placed to capitalize current market crosswinds through M&A.
Ongoing consolidation, underscores the sector’s long-term potential for scalable growth.
Ervin Schellenberg, Managing Partner Investec
This report provides an overview of valuations, transactions, buyers, etc. in the European industrial systems integrator market.
To access and read the full report click here
Case Study
Aqseptence Group, a global leader in autonomous water and filtration technology, equipment and system solutions specialising in water treatment and liquid/solid separation, has attracted Oaktree, a leading global investment manager, as an investor.
Oaktree’s investment and expertise will provide Aqseptence Group with the necessary resources to continue to grow and innovate to best serve existing and new markets.
Interview with Baldassare La Gaetana, CEO of Aqseptence Group and Ervin Schellenberg, Managing Partner of Investec, taking us through the process and decision making of Oaktree’s majority investment in Aqseptence in a short video:
- What is the Aqseptence Group? Why a new shareholder?
- What is your sector and investor perception? – Opinion Ervin Schellenberg
- Why is it important to work with an M&A advisor? – Opinion Baldassare La Gaetana
- How was the collaboration with Investec?
For nearly 25 years, Investec has been assisting its clients in reaching their strategic goals, whatever it takes, whether it’s by securing a strategic business, or maneuvering and winning a competitive auction process:
We are particularly adept at advising on the following situations:
- Acquiring (family-owned) companies, groups, or other mid-market companies
- Acquiring subsidiaries or business units from (international) corporates, including carve-outs
- Acquiring businesses from a founder/(majority) shareholder, including succession
- Acquiring shares owned by a private equity firm, family office or other investors
Designing and executing such transactions is what our team does on a daily basis. To ensure success, our team also leverages its extensive experience and unique capabilities, which include: deal intelligence, tactical, technical and project management skills, negotiation skills, and an understanding of the personal interests/sensitivities of relevant stakeholders.
Investec France une nouvelle fois récompensée dans la catégorie Banque d’affaires : meilleure équipe LBO Small to Mid cap avec un Trophée d’Or, lors de la cérémonie des Trophées des leaders de la Finance de Décideurs Leaders League, qui s’est déroulée le 29 mai dernier à Paris.
Félicitations à toutes nos équipes pour leur travail remarquable, et un grand merci à nos clients pour leur confiance et leur soutien.
Lauréats 2024 – Sommet des Leaders de la Finance
The Rheingau Music Festival is one of the largest music festivals in Europe and organises over 170 concerts every year throughout the region from Frankfurt and Wiesbaden to the Middle Rhine Valley.
Unique cultural monuments such as Eberbach Monastery, Johannisberg Castle, Vollrads Castle or the Wiesbaden Kurhaus as well as picturesque vineyards are transformed every summer into concert stages for stars of the international classical music scene and interesting up-and-coming artists from classical music and jazz to cabaret and world music.
In over 30 years, the Rheingau and its festival have become a centre of attraction for music enthusiasts from all over the world in a unique interplay of culture and nature, music, enjoyment and joie de vivre.
Investec is delighted once again to sponsor the Rheingau Music Festival 2024 and invites you to join us from 22 June to 7 September 2024!
A special feature this year? For the first time, there will be two opening concerts: Traditionally, the festival opens in the Eberbach Monastery, followed by another opening concert in the Kurhaus Wiesbaden. This year’s focus artists are also particularly outstanding: violinist Christian Tetzlaff, cellist Anastasia Kobekina, pianist Bruce Liu and jazz saxophonist Candy Dulfer.
Once again this year, various themes and focuses will ensure a varied and exciting programme. Under the motto « Spot on: Hollywood », the world of film music comes to life in twelve concerts. Under the motto « Brazil! », the contrasts and beauties of the country will be explored musically. The programme is also dedicated to the works of Antonín Dvořák and a true classic: Vivaldi’s « Four Seasons ».
The stages of the 37th festival season will be graced by numerous stars from the worlds of classical and pop music. Highlights include star pianist Lang Lang, singers Álvaro Soler, Max Mutzke and Max Giesinger, violinist Anne-Sophie Mutter, opera singer Rolando Villazón and entertainer Eckart von Hirschhausen.
Investec has been a committed sponsor of the Rheingau Music Festival for more than 15 years. This long-standing partnership is characterised by our deep appreciation for the arts and a strong connection to local culture. We look forward to experiencing a rousing summer full of music together with you again this year.
You can view the detailed program here.
Digital Disruption and Strategic Consolidation: Navigating the New Frontier in Industrial Services
Global Industrial Service
Technologization and Electrification along the full asset lifecycle to increase efficiency in industrial services and processes and comply with CO2 emission regulation.
Industrial Service Valuation drivers
The valuation of industrial services is primarily influenced by three pivotal factors. An increased involvement in the asset lifecycle and the ability to manage complex assets significantly enhance valuation metrics. Moreover, the intricacy of the service offered, and the dynamics of the target market further underpin these valuations. There is a notable shift towards a more comprehensive degree of asset stewardship, ranging from deploying personnel capable of operating the assets on-site to achieving full autonomy in asset management, thereby enhancing and operating the assets entirely independently from the end-user. Specifically, sectors such as energy and chemicals necessitate sophisticated services and assets, due to their inherent complexity and the critical nature of their operations.
Investec has extensive experience in advising deals in the Industrial Service sector. With 25 focused dealmakers across Europe, we can help you to achieve your strategic ambitions.
Interview
As we enter 2024, the M&A landscape shows signs of recovery, albeit cautiously.
In the episode of the February 20, 2024 of No Ordinary Wednesday, Jeremy Maggs in conversation with Investec experts Jürgen Schwarz, Marleen Vermeer, and Kilian de Gourcuff, Investec’s Head of Cross-Border Finance and International Advisory Charles Barlow, on what key sectors, trends and risks to keep an eye on in 2024.
Click here to listen to the podcast:
Where does opportunity lie for dealmaking in 2024? (investec.com)
Hosted by seasoned broadcaster, Jeremy Maggs, the No Ordinary Wednesday podcast unpacks the latest economic, business and political news in South Africa, with an all-star cast of investment and wealth managers, economists and financial planners from Investec. Listen in every second Wednesday for an in-depth look at what’s moving markets, shaping the economy, and changing the game for your wallet and your business.
Listen to the best of No Ordinary Wednesday: https://www.investec.com/en_za/focus/no-ordinary-wednesday-with-jeremy-maggs.html
Sustainable underlying trends, attracting interest from all market participants, coupled with high risks and investments in the development phase are paving the way for a thriving market.
The European M&A market for industrial software continues to be fuelled by consolidation across all end market segments. Ongoing trends of digitalization within the industrial sector, increasing convergence of sectors and the demand for more (factory) automation to counteract the increasing shortage of talent are just a few selected trends contributing to the growing interest from private equity firms and strategic players crossing sector and geographic borders.
Software as a solution to competition gaps
The advancement of Industry 4.0 implementation, integrating digital technologies into the manufacturing process, positions digitalization at the core of most sectors. Compliance with this trend has become inevitable for companies striving to stay at the forefront of innovation. Both micro- and macroeconomic trends, such as skilled labor shortages, ESG policies, and reshoring of complete production plants, are accelerating this process. Meanwhile, safeguarding assets is essential as the industrial system becomes more (cyber)connected and online. The German industry, accounting for approximately 25% of the country’s GDP, is considered critical infrastructure, emphasizing the need to ensure data integrity.
Market interest from different strategic angles
Software has always attracted various buyer pools with different strategic interests. Financial sponsors are particularly interested in recurring and scalable revenues combined with high-profit margins. In contrast, strategic players seek capabilities expansion and the “softwarization“ of their hardware (IoT). The industrial software market demonstrates sustainable growth underpinnings, with optimizing and modernizing the IT landscape being more crucial than the hardware itself.
Deal examples:
Growth capital unlocked for Desk by Software Partners Group
“SPG is a partner that combines excellent technology know-how and buy & build expertise, which will enable us to reach the next stage of our buy&build journey.” Volker Schneider (CEO, Desk)
wenglor sensoric group acquires Berlin based AI and Image processing Start-Up deevio
“With the acquisition of deevio GmbH, we have this opportunity to further strengthen our expertise and capability in the field of machine vision. In recent years, deevio has developed a great deal of know-how in using AI and data science for image processing applications within the automation industry, which is a considerable advantage for us.” Rafael Baur (Managing Director, wenglor)
Data (analytics) driven production: The new standard
New levels of data accessibility have been achieved, with standard APIs implemented across the entire IT landscape of the industry and collaboration between industrial technology providers. Data lakes are formed through a multi-sourcing policy from (digital twin) machinery and sensors, the IT architecture (ERP, MES, etc.), and human-generated data (quality management, observations, etc.). Recent technologies, such as AI, cloud computing, and predictive models, enable the treatment and analysis of the vast amount of generated data. Decision-makers now have access to aggregated and qualitative information for data-driven decisions.
Deal examples:
Majority investment of FSN Capital in Lobster
“In a world of exponentially growing amounts of data, complexity of data flows and application stacks, Lobster offers easy to use, economic and powerful software solutions to integrate data, applications, and processes of all forms and variations.” Robin Mürer (Co-Managing Partner, FSN Capital Partners)
The same old challenge… – make or buy
The ultimate question in growth strategies making companies consider M&A as an option is whether to make or buy. The combination of high development costs (in time and opportunity) but risky success rates is the primary rationale for market activity within (industrial) software to expand its capabilities and/or geographical footprint. The principle of Moore’s Law is still true in today’s technology ecosystem. Rapid cycles leave no room to develop everything in-house, acting as a catalyst for market activity.
Deal examples:
“Best Practice IT Solutions’ cloud-based software will complement Aptean’s current Food & Beverage ERP offering and enhance our ability to serve beverage companies.” Duane George (GM, Aptean)
“By bundling the expertise of tisoware and Persis, we create a uniquely comprehensive HR ecosystem for our customers. Together with solutions for access and building security (Security) and for optimizing production processes (MES) in the context of Industry 4.0, we offer an overall workforce portfolio for medium-sized enterprises in the DACH region.” Markus Steinberger (CEO, tisoware)
Our industrial software index outruns other indexes
Since 2019, the Industrial Software Index has risen almost threefold, while the main Industrial Technology sector has doubled. A new all-time high has been reached for market capitalization.
The main macroeconomic events over the last 5 years have similarly impacted all indexes, but industrial software market capitalizations seem to recover more quickly.
Valuations for listed industrial software companies, both EV/EBITDA and EV/Sales, remain high, with forward multiples at ca. 11x sales FY2024.
So, industrial software – hot or not?
Most checkboxes are ticked for answering the question positively:
- High valuations are fueling market activity.
- Growing interest, both from financial investors and large software consolidators.
- Sustainable market movers, with both strategic and financial rationale, are dictating most transactions.
Investec Industrial Technology
The Investec Industrial Technology index tracks daily developments in sectors such as Flow & Process Control, Robots/Motion, Electronics/Control / Connect, Integrated providers, Measurement/Vision Tech, Industrial Software, Intralogistics/System integration and Machinery.
The index includes valuations, growth projections, profitability margins and other metrics.
Would you like to learn more about valuations, buyer activity and current opportunities in the market?
Please do not hesitate to contact us.
You can find more information on our website at Industrials | Investec
Understanding your company and your market environment are key factors for the success of your business.
Interview with Ervin Schellenberg, Managing Partner of Investec about how to make a traditional company fit:
- How is the client’s situation?
- How do you support your clients?
- Giving an example
This video answers these questions and give you an idea and overview in a few minutes.
The industrial sector is undergoing profound change. In times of Industry 4.0, digitalisation and the development of alternative energies, new disruptive models are emerging that are forcing the major historical market leaders to rethink their strategy, organisation and industrial processes, integrating new forms of consumption, mobility, the emergence of subscription models, etc.
With more than 100 transactions in the industrial sector, our team is at the heart of the market, trends and M&A operations to provide you with effective support and high commercial added value for your sale, acquisition and financing operations.
Financial restructuring for Shareholders & Lenders
Helping clients to navigate uncertainties while putting their businesses back on track
Interview with Jürgen Schwarz, Managing Partner of Investec about Restructuring with the help of a M&A process:
- How did the market change in recent years?
- What is your approach?
- Giving an example
This video answers these questions and give you an idea and overview in a few minutes.
Sale from insolvency
Due to our pan-European presence and track record we are well placed to advise on international and cross-border restructurings.
Our international sector teams implement more than 50 transactions p.a. and in many sectors they know the active buyers, the acquisition criteria, the behaviour of individual decision makers. We also have an up-to-date overview of the market prices paid, which vary considerably over time and depending on the positioning in the sector.
Investec has direct access to numerous international equity and debt capital providers and has carried out numerous restructurings ranging from approximately 10 million Euros to several billion Euros.
You know your company best but selling it to a suitable buyer at an attractive price is often a major challenge.
Interview with Ervin Schellenberg, Managing Partner of Investec about finding the right partner for medium-sized companies:
- How to find the right partner for a medium-sized company?
- Is my company ready for a transaction?
- What is the equity story?
- Giving an example
This video answers these questions and give you an idea and overview in a few minutes.
Our wealth of experience from many years of successful transactions and our access to relevant decision-makers in national and international buyers ensure the best possible result for you.
Investec has the core competences required to sell companies and has successfully completed hundreds of transactions across all major industries.
Financing and Market trends | 2023
Why the German industry has a great need for investment.
German industry is facing significant challenges, including the effects of digitalization, the shift from analogue to digital business models, the need for environmental protection measures and sustainable production processes, as well as demographic change, which is leading to a shortage of skilled workers and an ageing workforce. In order to successfully master these processes, significantly higher investment efforts are required than in the past.
Digitalization and Industry 4.0: At present, Germany ranks at best in the middle of the EU in terms of the use of digital technologies in the economy1. German industry must invest in digital technologies and automation to remain competitive. However, in order to catch up with comparable countries, IT and digitalization investments in Germany would have to double or triple from EUR 49 billion to EUR 100 to 150 billion annually. In the SME sector alone, digitalization expenditure would have to increase from EUR 18 billion in 2019 to EUR 35 to 50 billion per year.
Sustainability and environmental protection: Companies are increasingly focusing on environmentally friendly technologies and processes in order to achieve sustainability goals and reduce their environmental impact. These investments not only serve to protect the environment, but also contribute to long-term competitiveness. A recent study commissioned by KfW puts the climate protection investments required to achieve the goal of climate neutrality by 2050 at around EUR 5 trillion or around EUR 190 billion per year1. This enormous sum makes it clear that considerably greater efforts will be required to achieve the target than has been the case to date.