A spin-off is more than a carve-out. It is a unit released with its own ownership architecture, capital structure and steering autonomy. We acquire and continue as an independent platform.
● Spin-off architecture · Permanent capital · Independent steering
A spin-off investor acquires units released from a corporate group as legally independent entities with own ownership, capital and steering structure, and continues them as an independent platform. Tactical Management is the sector-agnostic spin-off investor for DACH corporates externalising non-core units as independent legal entities. We assume the independence architecture — own balance sheet, own IT, own executive board, own capital structure — and stabilise the unit under new ownership. Written initial assessment within 72 hours, indicative offer within a few business days, closing typically 10 to 16 weeks from indication. Related contexts: Carve-out, Divestiture, Special Situations.
A spin-off investor acquires units that have been released from a corporate group as a legally independent entity with their own balance sheet, IT, executive board and capital structure. We assume the independence architecture and stabilise the unit under new ownership.
A carve-out is the operational separation operation. A spin-off is the legal independence of the carved-out unit — with its own legal entity, capital structure and (frequently) listing or distinct ownership.
Both require carve-out execution. Spin-offs additionally require legal independence architecture, IPO-style governance preparation in some cases, and ownership structures that survive after the seller exits entirely.
Investment criteria
Independence architecture
The unit has its own legal entity (or can be moved into one), own books, own executive structure.
Standalone substance
Own customers, own brand, own product, own key personnel — sufficient for independent operation.
Capital structure feasibility
Working capital, capex requirement and balance-sheet structure compatible with independent platform operation.
Transaction capability
Where the transaction allows, we can acquire as-is, close without financing contingencies and assume contractually defined legacy liabilities. We bring permanent capital — no fund lifecycle pressure, multi-year holding perspective.
Spin-off acquisition serves long-term operational development as an independent platform, not refinancing arbitrage. Site commitments and employee structures are part of the investment plan.
Process
Contact by corporate board, M&A or strategy function. NDA in 24 hours.
72 hours. Indicative valuation, structuring proposal, independence architecture review.
Few business days. Valuation range, capital structure proposal.
Structured DD. Closing typically 10–16 weeks from indication.
Frequently asked questions
A spin-off investor acquires units that have been carved out from a corporate group as legally independent entities with their own ownership, capital and steering structure, and continues them as an independent platform.
A carve-out is the operational separation. A spin-off is the legal independence of the carved-out unit — with own legal entity, own balance sheet, own executive structure. Many transactions begin as carve-outs and resolve into spin-offs at closing.
Typically 10 to 16 weeks from indicative offer, depending on legal independence work, capital structure design and DD scope.
One action
Written initial assessment within 72 hours.
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