Insights — research, playbooks, perspectives.
Every post is written by a partner, grounded in live deal work, and published in full — no gates, no email-for-PDF. Download the PDF if you want it formatted for the boardroom.
Filed by theme and date.
Build-up & Roll-up in Europe 2026: what smart investors are watching.
560,000 German SMEs to transfer, family offices running direct mandates, private debt replacing banks in France. DACH, Switzerland, France — sector by sector, deal structure by deal structure.
VBP Mid-Market Barometer H1 2026 — France & Switzerland.
EV/EBITDA multiples at 8.6× all buyers, 10.0× PE (record 2.2× premium over strategic). 502 Swiss M&A transactions, inbound +65%. Sector ranges, financing conditions, VBP commentary.
The First 90 Days After an Acquisition
Most acquirers focus on the deal and underinvest in the first 90 days — where a significant portion of the purchase premium is either captured or destroyed.
EBITDA restatements: what a buyer accepts (and what they reject).
Not every add-back survives a quality of earnings review. Which ones pass, which get challenged, and how to document them before the process starts — so they land as facts, not concessions.
Net proceeds: the 12 levers founders miss after the headline price.
Working capital peg, earnout, vendor loan, tax, warranties, escrow — twelve transaction terms that determine what actually lands in your account, and how to negotiate each one.
Selling your Swiss SME: what buyers actually look for.
Most founders think about price first. Professional buyers think about risk-adjusted price. Here's what they're assessing before they open the data room.
The 90-day value creation plan: how PE firms structure the first quarter.
The decisions made in the first three months of ownership determine which value-creation levers remain available and which are permanently foreclosed.
EBITDA improvement: the 6 levers that actually move the number.
Pricing, cost structure, customer mix, revenue quality, working capital, and AI — each with a named mechanism and a realistic magnitude range from live mid-market deals.
Exit preparation is the new sell-side.
Why the 18–36 month readiness window is the single highest-leverage decision founders make.
Divestment market readjustment — H1 2026.
What the re-pricing of the divestment market means for mid-market vendors.
The GTM operating partner — why most PE firms are buying the wrong thing.
A short piece on what a GTM operating partner actually delivers, and when to hire one.
African M&A, Q1 2026 — the operator's read.
Deal volume, valuations, and thematic flows across francophone and anglophone Africa.