Technological substance
Software, hardware, embedded systems, data models, algorithms, technical platforms.
Acquisition & Process
Three requirements. Six exclusions. Four phases.
We assess fast and decline early. Clarity is the higher form of courtesy.
What We Acquire
Primary requirements. all three must hold.
Special situation
Operational, corporate-legal or financial adjustment need that allows acquisition below component valuation.
Platform fit
The substance can be inserted into an existing or planned platform architecture.
Secondary requirements. weighted.
- Continuity of key substance, especially in engineering
- Transferable customer relationships
- Clean legal and compliance position
What We Do Not Acquire
Six exclusions.
- Early-stage companies without finished product
- Pure consulting firms with software addendum
- Brand businesses without proprietary technology
- Geographically or regulatorily isolated companies without platform fit
- Companies with unresolved legal conflicts
- Companies whose substance lies entirely in a single, non-replaceable person
Whoever lacks the negative list lacks methodology.
Process
Four phases. Speed where possible. Rigour where required.
Phase 1
First review within 72 hours of receipt of the special situation.
Written first assessment with a clear statement: investment interest, no investment interest, or further clarification needed.
Phase 2
Indicative offer within a few business days.
Acquisition price corridor, transaction structure, conditions, timeline.
Phase 3
Structured due diligence, two to four weeks.
Four parallel teams: technical, commercial, legal, financial.
Phase 4
Closing and handover.
For insolvency transactions per the rules of the proceeding. For pre-insolvency transactions per classical M&A logic.
Selection Rate
We review a meaningful number of submitted special situations per year. We acquire only a small fraction.
This selectivity is not weakness of the pipeline. It is the strength of the methodology.