We make your business succes­si­on more successful. Guaran­teed*

Warum Sie uns für Ihre Unternehmens­nachfolge (M&A) wählen sollten? Aufgrund des Kerns hinter KERN.

Achie­ve the best results in compa­ny sales (M&A), compa­ny acqui­si­ti­ons and genera­ti­on changes with KERN ? your indepen­dent consul­ting group in Germa­ny, Austria, Poland and Switz­er­land. Repea­ted­ly award­ed by the renow­ned Wirtschafts­wo­che, as Top-Consul­tants and with the German-Brand-Award as well as Innova­tor 2021.

Start video

German Customer-Awards 2024

Experi­ence from more than 2,000 follow-up projects

The entire transac­tion was successful­ly accom­pa­nied and imple­men­ted by KERN. Hurdles were cleared out of the way and the business remains in opera­ti­on with all employees. 

»

The project included the prepa­ra­ti­on, analy­sis and coaching of both parties, as well as the organi­sa­ti­on and modera­ti­on of the entire process. 

»

The project included the prepa­ra­ti­on, inves­tor search and approach as well as the organi­sa­ti­on and modera­ti­on of the entire process. 

»

Known from numerous publications

Frankfurter Allgemeine
Süddeutsche Zeitung
Thueringer allgemeine Zeitung
Handelsblatt
Saarbrücker Zeitung
Mittelstand Nachrichten
Radio Bremen
impulse
Zeit Campus
Handwerk Magazin
Osnabruecker Zeitung
Financial Planning
Weser Kurier
Unternehmer Radio

The unique M&A success guaran­tee for your compa­ny sale without risk

The sale of your business is of utmost importance to you. With which advisor are you in the best hands? With the unique KERN M&A SUCCESS GUARANTEE you get your money back if a sale is not successful.

Secure the sale of your life’s work at 100%.

We make your business succes­si­on more successful

Compa­ny sale

Learn every­thing you need to know about selling your life’s work. In the video “Selling a compa­ny in 10 steps” you will learn about the proven KERN M&A process. Also in the video, you will learn how the founders of Acoustic­pearls fulfil­led their dream by selling their company.

Learn more >

Genera­ti­on change

Succes­si­on within the family needs soluti­ons that also take the emotio­nal side into account. In the video with Nils Koerber, disco­ver the holistic KERN family process for genera­tio­nal change. Get your free copy of the expert guide as a PDF download.

Learn more >

Compa­ny acquisition

Buying a compa­ny is a big decis­i­on. Here you can find out why this path is easier, more lucra­ti­ve and more exciting than setting up your own business. Disco­ver how the KERN network can help you with your successful business purcha­se. Start right away by setting up your free search profile.

Learn more >

Frequent­ly asked questi­ons about business succession

Defini­ti­on: What is the meaning behind the term business succession?

Compa­ny succes­si­on is an inevi­ta­ble process in the business world. By this we mean that a compa­ny is passed on to a succes­sor. This is not a case of a new start-up, but rather of the Trans­fer of an alrea­dy existing compa­ny or sole proprie­tor­ship. This process of handing over, selling, donating or buying a compa­ny can take a long time and is subject to a wide varie­ty of special features in almost every indivi­du­al case.

What forms / types of business succes­si­on are there?

There are various occasi­ons for a business succes­si­on: Mostly, this takes place when the current owner of the business wants to sell it. For whate­ver reason. The compa­ny can then be acqui­red and taken over by poten­ti­al successors/investors.

A good 40 % businesses are passed on within a family. Then a family-inter­nal business takeover takes place. However, this does not make the process any less exten­si­ve and often even more emotio­nal due to the perso­nal bond between the trans­fer­or and the transferee.

Compa­ny succes­si­on, in the context of a genera­tio­nal change, can take the form of a gift, inheri­tance or sale to the succee­ding genera­ti­on. 

What does a business succes­si­on consul­tancy do?

Taking advan­ta­ge of expert advice in the context of a business succes­si­on is not just an idea, but stron­gly recom­men­ded. Hardly any trans­fer­or has imple­men­ted such a complex process more often in his life and thus knows all the important contents. Business succes­si­on consul­tants are respon­si­ble for the planning and imple­men­ta­ti­on of this matter. This includes many diffe­rent aspects with tax, legal, econo­mic and emotio­nal backgrounds, which we present to you in more detail below.

Business valua­ti­on

The first step is often to deter­mi­ne the value of the business. A fair market Business valua­ti­on is an important step in succes­si­on planning, as it deter­mi­nes the market value of the compa­ny. This value is used to deter­mi­ne the possi­ble purcha­se price that could current­ly be reali­stic for the respec­ti­ve business model and industry.

However, the first step can also take place much earlier, namely as part of a pre-exami­na­ti­on of the put option. At KERN we call this the Fitness check for the compa­ny succes­si­on. With enough time, important decis­i­ons can be made or the possi­ble sales price can be made more attrac­ti­ve in the future with intel­li­gent value enhance­ment systems.

Infor­ma­ti­on Memoran­dum (also called Exposé)

A business succes­si­on advisor provi­des signi­fi­cant support in the prepa­ra­ti­on of a compre­hen­si­ve infor­ma­ti­on memoran­dum. This document gives poten­ti­al succes­sors an overview of the compa­ny, its finan­ces, strengths and weakne­s­ses, as well as the perspec­ti­ve after a Compa­ny sale.

Of course, a Infor­ma­ti­on Memoran­dum only issued in return for a confi­den­tia­li­ty agree­ment and each interes­ted party is checked in detail in advan­ce for sustaina­bi­li­ty as an interes­ted party in a business succession.

Finding a buyer

Grafik M&A Trichter KERN

Business succes­si­on advisors (by this we do not mean advisors who imple­ment M&A and business succes­si­on ’someti­mes’ and ‘also’, but who have a 24/7 focus on this parti­cu­lar service) can help you, find the right and best buyer and negotia­te an optimal price with resili­ent frame­work conditions.

M&A databa­ses are of great importance in this respect. KERN alone, for examp­le, as one of the largest adviso­ry groups for business succes­si­on, has more than 300,000 inves­tor and buyer profiles on an ongoing basis. We there­fo­re know exact­ly who, when, where and how they want to invest. Likewi­se, natio­nal and inter­na­tio­nal networks to banks, savings banks, lawyers and tax advisors are the decisi­ve criter­ion for an anony­mous, discreet and at the same time successful search for buyers. If several buyers can be identi­fied at the same time as interes­ted parties to take over in the business succes­si­on, this is a great advan­ta­ge for the seller of a business. And the price will also be more stable or even higher as a result.

Posting on a succes­si­on exchan­ge (compa­ny exchange)

Another way to find the suita­ble succes­sor is to post your business on a succes­si­on exchan­ge. In this way, prospec­ti­ve buyers will become aware of your business. Important! All adver­ti­se­ments must be anony­mous and we at KERN provi­de a relia­ble “securi­ty buffer” to ensure that no market parti­ci­pant or employee finds out about your project.

Negotia­ti­on with prospec­ti­ve buyers

The advisor supports you in the negotia­ti­ons with the poten­ti­al succes­sors. With the neces­sa­ry know-how, the consul­tants knowWe know what is important in this process and sound out very precis­e­ly in advan­ce which interes­ted party could really be relevant for the compa­ny succes­si­on. To be on the safe side, we always ask our clients whether this parti­cu­lar buyer would actual­ly be desired before we inspect an infor­ma­ti­on memoran­dum. Only then do we sign the confi­den­tia­li­ty agree­ment (NDA) and send it out. Or even the friend­ly refusal. Advan­ta­ge: The seller always remains secure­ly in an anony­mous positi­on with his business succes­si­on project until then.

Letter of Intent

The writing of a Letter of Intent (letter of intent prior to a compa­ny sale) is an important step in the area of compa­ny succes­si­on. In this the Inten­ti­ons of the buyer and the seller recor­ded. And it should be very detail­ed and speci­fic. A good LoI prevents misun­derstan­dings and prepa­res the subse­quent purcha­se contract well in important questi­ons. Whoever signs a compre­hen­si­ve LoI also wants to achie­ve the goal in the majori­ty of cases. This appli­es to both buyers and sellers in a business succession.

Compa­ny purcha­se agreement

Final­ly, the counsell­or will support you in Compa­ny purcha­se agree­ment for your succes­si­on. Here the rule appli­es: He who writes, stays ? This means that even the draft is of great importance for the content and strategy in the process of compa­ny succes­si­on. Whether a specia­li­sed M&A lawyer prepa­res the draft or has to check a draft is rather negli­gi­ble from the cost point of view. The transac­tion advisors make sure that the contents of a contract in business succes­si­on can do justi­ce to both sides and misun­derstan­dings can be ruled out through a mindful ?inter­pre­ter? activi­ty. Emoti­ons are often parti­cu­lar­ly tense short­ly before the goal is reached and an experi­en­ced business succes­si­on advisor contri­bu­tes to this with his experience.

Media­ti­on

Conflicts can also arise in the context of a business succes­si­on. This more often concerns the genera­ti­on change within the family. With the help of the “techni­que” of media­ti­on (modera­ted discus­sion in concre­te steps for the achie­ve­ment of goals and the resolu­ti­on of conflicts), experi­en­ced M&A advisors with media­ti­on exper­ti­se will help you to resol­ve them.

Counsel­ling is parti­cu­lar­ly relevant when the succes­si­on takes place within the family. This helps to look at things objec­tively and not let emoti­ons decide the course of events. Especi­al­ly when dispu­tes arise, a counsell­or can media­te them and objec­tively prescri­be all aspects.

The phases of a business succession

Compa­ny succes­si­on through a compa­ny sale consists of various phases. At the begin­ning, all important dates the compa­ny, deter­mi­ne its value and develop strate­gies.. As soon as the concept is ready, anony­mous contact with interes­ted parties is initia­ted. If the negotia­ti­ons with buyers are successful, the purcha­se contract is signed and the compa­ny is handed over.

Why consul­ting for business succes­si­on makes sense?

The vast majori­ty of all entre­pre­neurs only hand over their perso­nal­ly created life’s work once in the context of a compa­ny succes­si­on, whether through a sale or a genera­ti­on change within the family. The comple­xi­ty is extre­me­ly high in the context of the tax, econo­mic, legal and emotio­nal parti­cu­la­ri­ties. No two cases of business succes­si­on are the same. Experi­en­ced experts ‘earn’ more for their clients than the mista­kes, legal and tax problems or emotio­nal escala­ti­ons might cost in case of doubt. The fee, often with success compon­ents, is thus cheaper than the disas­ter of a failed business succes­si­on. In the worst case, a life’s work is damaged or even destroy­ed through ignorance.

Which succes­si­on advisor is the right one for me?

KERN-Standorte

In order to select a suita­ble business succes­si­on (M&A) expert, you should be clear about the goals to be achie­ved in the business succes­si­on and the quali­ties of a compa­n­ion needed to provi­de optimal support. Once you are clear about your needs, you can start to narrow down your options.

Always ask for concre­te referen­ces and case studies. The focus on this deman­ding field of consul­tancy is crucial. Only those who have frequent­ly advised on these complex proces­ses of a compa­ny succes­si­on in depth and over many years should play a role for you in the circle of possi­ble selection.

We also convin­ce with a success guaran­tee and over 2,000 successful follow-up manda­tes. There­fo­re, we could be the right succes­si­on advisor for you.

Are there specia­li­sed manage­ment consul­tanci­es for business succession?

In fact, there are manage­ment consul­tanci­es that have specia­li­sed exclu­si­ve­ly in support­ing compa­nies in succes­si­on planning and imple­men­ta­ti­on. They have recog­nis­ed the scope and importance of this topic and have made it their goal to support entre­pre­neurs in all questions.

Are you an entrepreneur?

As an entre­pre­neur, you are faced at some point with the chall­enge of having to or wanting to pass on your life’s work. Many diffe­rent factors play a role, not least the emotio­nal circum­s­tances that can compli­ca­te this process. With the help of specia­li­sed succes­si­on advice, it may be easier.

KERN offers a special one-day seminar (digital or analo­gue) for the start-up phase, to help you find your own clari­ty as a future transferor.

Planning compa­ny succession

The process of business succes­si­on requi­res thorough planning. Without prepa­ra­ti­on, mista­kes and losses are inevi­ta­ble. A business succes­si­on cannot simply take place from one day to the next, but consists of diffe­rent phases of business succes­si­on and requi­res exten­si­ve preparations.

Find compa­ny successors

If the succes­si­on is not to take place within the family, it is important to find a poten­ti­al succes­sor. A suita­ble option for this is, among other things, a compa­ny exchan­ge. On such a portal you can anony­mously offer your life’s work and thus attract poten­ti­al buyers. Please note that you should choose an exchan­ge very careful­ly, becau­se there are only very few relevant portals for business succession.

Check­list for business succession

Are you a founder or a compa­ny buyer?

The concept of business succes­si­on also plays a role for someone who would like to buy a compa­ny. If you don’t neces­s­a­ri­ly want to start up, but still want to run a business, you can look for a suita­ble compa­ny on succes­si­on exchan­ges, for examp­le. Buying within the frame­work of a compa­ny succes­si­on has clear advantages.

What are the advantages?

There are many diffe­rent advan­ta­ges to buying a compa­ny. You don’t have to start an elabo­ra­te proce­du­re of a founda­ti­on, but take over an alrea­dy existing compa­ny. One of the advan­ta­ges is that you usual­ly start with experi­en­ced employees, which are incor­po­ra­ted and are famili­ar with the acqui­red business model.

A successful­ly running business opera­ti­on, regard­less of the indus­try, provi­des income and an estab­lished founda­ti­on of securi­ty from day one. Now it is time to align the compa­ny for the future and to combi­ne its own vision with the estab­lished business model.

Oppor­tu­ni­ties and risks

One of the oppor­tu­ni­ties in taking over a compa­ny is to have a alrea­dy successful compa­ny to be able to expand and scale even further.

And at the same time, even an estab­lished compa­ny has to face challenges every day. Compared to a start-up, a compa­ny succes­si­on is of course not without risk, but in terms of time it is proba­b­ly always more successful than a classic start-up. After all, a good 80 % of all comple­te­ly new start-ups fail.

Funding

Finan­cing a business succes­si­on is one of the biggest hurdles to a successful takeover. Can a buyer afford the possi­ble volume of a purcha­se price? Where can I find the right finan­cing partners? Which subsi­dies and public guaran­tees help to make the project a reality.

Questi­ons and challenges, often up to the business plan, should also be prepared and imple­men­ted with experts.

Check­list for business buyers

  • Set goals & expectations
  • Find a suita­ble company
  • Hold negotia­ti­ons
  • Purcha­se contract & takeover

What should be conside­red when choosing a succes­si­on consultancy?

When it is time to plan succes­si­on for your business, it is important to choose a manage­ment consul­tancy that suits you and your business. If the chemis­try between you and the advisors is right and the profes­sio­nal know-how has been testednothing stands in the way of a successful compa­ny sale. An indis­pensable prere­qui­si­te for exter­nal advisors is a high level of compe­tence in assis­ting with compa­ny successions.

Succes­sor wanted: Find compa­nies and purcha­se requests

The KERN Compa­ny Exchan­ge is the meeting place for entre­pre­neurs, inves­tors and those who would like to become one. It offers buyers the oppor­tu­ni­ty to get an overview of the compa­nies for sale. For this purpo­se, we offer the free oppor­tu­ni­ty to enter your own search profi­le and create it accor­ding to indus­try, geogra­phy, size, capital, etc.

Sellers, as our clients, can also find a poten­ti­al succes­sor this way. Always protec­ted by the anony­mous presen­ta­ti­on and securi­ty buffer of our KERN processes.

The DIHK Nachfol­ge­re­port 2020 has shown that business succes­si­ons have been sever­ely slowed down, especi­al­ly by the pande­mic. But this no longer has to be the case. Our stock exchan­ge and our advisors actively support you.

What costs are incur­red within the scope of a business succes­si­on consultation?

When conside­ring succes­si­on advice as an entre­pre­neur, the questi­on arises as to how much it will cost. The answer cannot be genera­li­sed, as it depends on the size and comple­xi­ty of the business, the type of succes­si­on planning and the parti­cu­lar circum­s­tances of the owner and the business. At KERN, we work stron­gly success-orien­ted and even guaran­tee the sale of a business under certain circum­s­tances. Without any risk for the seller: https://www.kern-unternehmensnachfolge.com/erfolgsgarantie/

Business succes­si­on advice

Succes­si­on planning is crucial for the long-term success of compa­nies. Everyo­ne who runs a compa­ny will face this chall­enge sooner or later. In order not to have to go through this process alone and run the high risk of making mista­kes, the use of a M&A consul­ting meaningful.

Advice on business succes­si­on is about planning the future of your life’s work. This includes topics such as the creati­on of a succes­si­on plan, the selec­tion of a succes­sor and the imple­men­ta­ti­on of the handover.

If you are also facing a business succes­si­on, we will be happy to assist you. During a free initi­al consul­ta­ti­on, we can discuss together how your goals can be achie­ved concre­te­ly and safely.

We advise clients who wish to sell their business as well as entre­pre­neurs who are looking to buy or make an intra-family trans­fer within the family business.