Buy-side due diligence

Personnel leasing

Acquisition of a midcap company by a private equity fund

Our team advised a German MidCap Private Equity Firm in connection with the acquisition of a personnel leasing company.

The company was founded by the Managing Directors who intended to sell the majority of the shares in order to raise funds for future growth. The Private Equity Fund was focused on profitable German family-owned MidCap companies.

Further details

10 Mio. €
Business volume
0 Weeks
Project duration

Solution & result


We analysed the historical financial information and the business plan, specific attention was paid to the utilisation and profitability of the staff, related party transactions, revenue recognition, Management adjustments and provisioning.

The analyses mainly resulted in an adjusted EBITDA, a net financial debt position of the company and a sufficient working capital level. In addition, we proposed adjustments to the business plan.


Our analyses, which were outlined in an Excel databook and a due diligence report, formed the basis for the valuation of the business and the client’s negotiations of the purchase price and specific terms of the SPA (share purchase agreement).

We supported the client in these negotiations with additional focused analyses.

The company was acquired by our client.

"You'll get far on your own, you'll get further with valetis."

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