Services
More than advisory. Structure, execution and accountability.
We help companies in special situations with what they need at that moment: liquidity, a restructuring that works, an orderly path through formal proceedings, a buyer, capital, digitalisation and AI. And where it makes sense, we take on ownership responsibility ourselves as investor.
In short
Tactical Management offers mid-sized companies in Germany, Austria and Switzerland four core services in special situations: liquidity and stabilisation, operational restructuring, formal proceedings and the StaRUG (German restructuring procedure) and company acquisition by Tactical as investor. In addition, we support company sales and succession, carve-outs, financing and capital raising, digitalisation and AI, and interim management. The difference from traditional consulting: we execute, and we can bring in capital and ownership responsibility.
Updated: September 2026 · Responsible: Dr. Raphael Nagel (LL.M.), Founding Partner
Core services in special situations
Four reasons to call us.
Liquidity & stabilisation
Secure solvency, buy time, bring lenders to the table.
- 13-week forecast
- Cash task force
- Bank negotiations
- Bridge financing
Operational restructuring
Restore earning power and implement the measures together with management.
- IDW S 6
- Costs & procurement
- Sites
- Implementation tracking
Proceedings & StaRUG
Restructuring with court support, prepared in advance and secured with an investor solution.
- Restructuring plan
- Self-administration
- Protective shield
- Insolvency plan
Company acquisition
Tactical as investor: equity stake, succession, carve-out or full acquisition.
- Own balance sheet
- 72 h assessment
- Closing in 6 to 12 weeks
- Permanent capital
Sale. Capital. Digitalisation. AI.
For the next step.
Not every special situation is a crisis. Healthy companies that want to sell, reposition or grow use these services too.
Company sale & succession
Sale preparation, valuation, buyer approach and negotiation. On request, Tactical buys itself.
- Succession
- Valuation
- Distressed M&A
Carve-out & separation
Separation of business units from groups and corporate families, from the separation concept to stand-alone operation.
- Separation
- TSA
- IT separation
- Buyers
Financing & capital
Refinancing, bridge financing, working capital and equity, even when the house bank hesitates. Page in German.
- Refinancing
- Factoring
- Sale-and-leaseback
- Equity stake
Digitalisation & AI
AI applications and automation with a measurable effect on costs, lead times and liquidity.
- Use case sprint
- Automation
- Data & ERP
- AI Act
Interim management & CFO
Chief Restructuring Officer, interim CFO and interim managing director.
- CRO
- Interim CFO
- Management
For corporates
Portfolio clean-up, non-core divestments and carve-outs with a partner who can decide.
- Divestiture
- Non-core
Knowledge & tools
Answers for managing directors and shareholders.
Practical guides to the questions asked first in special situations, with legal framework, deadlines and a free template. These guides are currently available in German.
13-week cash flow forecast
Method, typical mistakes and a free Excel template.
- Excel template
- Direct method
Avoiding insolvency
Crisis stages, directors' duties and the first 21 days.
- § 15a InsO
- § 15b InsO
Imminent illiquidity
Definition, 24-month forecast, right to file and routes into the StaRUG.
- § 18 InsO
- 10 percent rule
Going-concern forecast
Testing over-indebtedness, 12-month forecast, documentation and liability.
- § 19 InsO
- IDW S 11
Restructuring plan under IDW S 6
Content, requirements of the Federal Court of Justice (BGH), variants and cost drivers.
- IDW S 6
- IBR
Selling a GmbH
Process, share deal or asset deal, tax, duration and documents.
- § 15 GmbHG
- Tax
Business succession
Eight succession routes compared, timetable and inheritance tax.
- MBO / MBI
- Sale
Chief Restructuring Officer
Tasks, role towards the banks, distinction from the court-appointed monitor and the restructuring officer.
- CRO
- StaRUG
Interim CFO
Interim finance leadership in crisis, carve-out and transaction.
- Liquidity
- Reporting
Austria: Restructuring Code
ReO, restructuring proceedings under the IO and the URG compared.
- ReO
- IO
Switzerland: composition moratorium
Composition proceedings under the SchKG, notice of over-indebtedness and subordination.
- SchKG
- Art. 725b OR
Orientation
Which service fits which situation.
Most mandates begin with a specific question. The overview shows where we typically start and what can follow from it.
| Situation | Typical signals | First step | Possible follow-on services |
|---|---|---|---|
| Liquidity will foreseeably run out | Overdraft fully drawn, suppliers demand payment in advance, credit insurer cuts limits | 13-week cash flow forecast | Cash task force, bank negotiations, bridge financing |
| Earnings collapse, liquidity still available | Two loss-making years, covenant breach looming, margins declining | Rapid diagnosis | Restructuring plan and implementation |
| Banks require a restructuring plan | Extension only with an independent restructuring opinion | Restructuring plan under IDW S 6 | Financing, implementation tracking |
| Individual creditors block a solution | Minority bank, bondholders, lessors | StaRUG restructuring plan | Stabilisation order, plan confirmation |
| Insolvency has occurred or is close | Illiquidity, negative going-concern forecast | Procedure scenarios with restructuring lawyers | Self-administration, protective shield, transferring restructuring (asset deal out of insolvency) |
| No successor | Owner over 60, no solution within the family or management | Succession discussion | Sale or acquisition by Tactical |
| A group wants to divest a business | Non-core business, losses, tied-up capital | Carve-out readiness | Separation, TSA, buyers |
| Costs too high, processes manual | Excel landscape, shortage of skilled staff, long lead times | AI potential analysis | Use case sprint, automation, ERP |
| Leadership gap in the crisis | CFO leaves, bank demands a CRO | Interim CRO or CFO | Liquidity, restructuring, proceedings |
How we work
Traditional consulting and Tactical compared.
| Service | Traditional consulting | Tactical Management |
|---|---|---|
| Analysis & plan | Yes | Yes, in days rather than weeks |
| Implementation in the company | Limited, mostly recommendations | Hands-on, together with management |
| Negotiation with banks and creditors | Supporting | Directly at the table |
| Interim roles | Partly | CRO, CFO, managing director |
| Capital & equity investment | No | Yes, where it makes sense |
| Acquisition as owner | No | Possible, with a long-term horizon |
Process
Three levels. You decide how far we go.
Advisory & sparring
Situation assessment, options and plan. Written assessment within 72 hours.
Hands-on support
30, 90 and 180-day programmes, interim roles and leading negotiations.
Investment & ownership
Equity stake, bridge financing or acquisition, from our own balance sheet and without a fund life.
FAQ
Frequently asked questions.
What services does Tactical Management offer?
Liquidity stabilisation, operational restructuring, support in StaRUG, self-administration and protective shield proceedings, company acquisition by Tactical as investor, company sale and succession, carve-outs, financing and capital, digitalisation and AI, and interim management.
Which companies does Tactical work for?
For mid-sized companies, family businesses, groups with non-core businesses and financial investors in Germany, Austria and Switzerland. We are sector-agnostic; what matters is the substance of the business.
Do we have to engage Tactical for all services together?
No. Each service can be engaged separately. Many mandates start with a cash flow forecast or an initial assessment and develop further as needed.
How does the engagement begin?
With a confidential first call. The founding partner calls back within 60 minutes during business hours, and you receive a written assessment within 72 hours.
How does Tactical handle the conflict of interest when it advises and might later buy?
Openly and in writing. As soon as an investment or acquisition by Tactical comes into consideration, we disclose this to shareholders, the advisory board and lenders. The valuation is then validated by independent third parties, and the seller is free to approach other buyers. An advisory mandate never obliges anyone to transact with Tactical.
Confidential first call
Let us talk before your options narrow.
Three lines are enough. The founding partner replies personally, confidentially and with a concrete assessment.