JP Directors Report

Decency, the Lost Virtue

 
In this JP Director's Report:
Decency, the Lost Virtue (Editorial)
Selected Opportunities: Company PurchaseComapany SaleImprint

 

Decency, the Lost Virtue



Dear Ladies and Gentlemen


Heinz Jäger "You have to be able to lose with decency..." We learned that as children when we suffered a painful defeat. Fair play, sportsmanship, admiration for the winner’s performance – these were virtues that our parents tried to teach us. And as everyone knows, losing is much harder than winning. Which is why you have to learn how to do it. But today you have to wonder where the decency of our childhood days has gone. Now you’re supposed to be smart, assertive, even ruthless – because success is put above everything else and knows no mercy. Everyone and everything must submit to success – even decency.

But is this really the case? Or to put it another way: Is that really how it has to be? What's wrong with someone being able to do something better than I can? Does the pursuit of success mean that I have to envy everyone who is more successful? And what gets lost on the path to better, faster, higher, further?

The Merriam Webster dictionary defines decency as "conformity to standards of taste, propriety, or quality". But isn't decency much more than that? To lead a decent life also means to be honest, to not only think of oneself and seek one's own advantage, to stay true to oneself, to act with character. All this can be captured with this one word "decency".

The philosopher Georg Wilhelm Friedrich Hegel described a person of character as follows:

"A person of character is a decent person who as such has certain goals in mind and pursues them with steadfastness.”

The concept of decency may seem old-fashioned to us, even a little dusty, and thanks to the events of the late 1960’s more or less negative. But it would be good if decency became modern again as soon as possible because there seems to be a considerable lack of both decency and strength of character nowadays. The greed of big money certainly doesn't require any decency. We live in troubled and turbulent times; the foundations of our coexistence are threatened. It’s time to ask ourselves a few important questions again.

What does it actually mean for each of us when lies, ruthlessness and perfidy push their way into power? If all known rules of decency are so successfully violated in public? Or when the president of a world power boasts on camera that he can grab any woman’s crotch with impunity. Or when he puts the business interests of his family above the welfare of the state?

Let us imagine instead that the world is governed with decency, that people are treated decently and that decency prevails in the media and in all forms of communication. Instead of cunning, wisdom would prevail; instead of a blind striving for success, character would prevail. Defeats would still hurt. But isn't the real gain in life always true greatness?

Yours sincerely,

Heinz Jäger
Heinz Jäger



Selected M&A-Opportunities (I)

Company Sale
Metal processing
Turkey

Turkish specialist for sheet metal processing for automotive industry and household appliances with an annual turnover of nearly € 15 million, an EBITDA-margin of approx. 11 % and 125 employees is looking for a buyer.
Project METAL-TR


Engineering-Procurement-Construction
Vietnam

Strong growing (turnover: € 13 million in 2015 / € 22 million in 2016 / expected € 43 million for 2017) Engineering-Procurement-Construction company in Vietnam with currently around 300 employees is looking for a partner to implement incoming big projects.
Project No. 178457


Instant Drinks
Germany

Manufacturer of instant drinks (tea, chai, coffee, chocolate, milk powder, topping etc.) is looking for partners / buyer; sales: less than € 10 million; earnings positive; sales regions: Western and Central Europe, Scandinavia.
Project No. 172322


Engineering Solution Provider (Sugar)
India

Engineering-Procurement-Construction company specializing in sugar processing, operating in 38 countries, with a turnover of € 20 million (2017) and an EBITDA margin of 10 % from India is looking for a transferee. With three locations in India also good starting point for EPC projects in adjacent industries in India / Asia.
Project No. 173190


Ready meals
Poland

Polish Specialist for ready meals with a modern production plant, 90 employees, a turnover of around € 6 million with an EBITDA margin of 13 %, as well as sufficient production reserves for a significant increase in sales, is for sale.
Project No. 178818


Organic Delicatessen
Germany

German manufacturer of organic delicatessen (spreads, curry pastes, wok sauces, delicatessen sauces, sambals, etc.) seeks a transferee as part of a succession plan; Sales: € 6.5 million, average growth approx. 20% pa.; positive EBIT; 35 employees.
Project No. 174588


Medtech
Europe

Innovative European medical technology company backed by world-renowned cardiologists / specialists from famous Utrecht’s Medical University is looking for a suitable investor to bring state of the art, patient friendly, smart routing therapies for cardiology to the market (several products are in the pipeline, with 2 currently tested in Utrecht). Capital requirement are at least € 6 million.  
Project No. 178941


--> Company Purchase
italien

Bella Italia! - Possible investments in Italy


Logistics

Logistics company from Northern Italy with 100 trucks (approx. 75% are already EURO 6) and 200 semi-trailers is looking for suitable investors. The company has a turnover of approx. € 12 million with an EBITDA margin of 23%.
Project No. 178290B



Mechanical engineering

Italian manufacturer of broadcasting technology (antennas, communications equipment, high frequency cables and connectors, etc.) with a turnover of around € 5 million and an EBITDA margin of around 9 % is for sale as part of a mid-term succession plan.
Project No. 178290A


International mechanical engineering and solution provider for liquid and semi-liquid food technology (esp. in the area of milk processing / pasteurization) with headquarters in Italy is to be sold. Turnover is between € 10 and 15 million with an EBITDA margin of 15 %.
Project No. 178290C



Dairy products

Family owned cheese manufacturer with over 100 years of experience in the production of Grana Padano and Parmigiano Reggiano cheese is looking for a new owner. Production takes place in 5 plants achieving a turnover of € 90 million with an EBITDA-margin of 3 %.
Project No. 99.02


Italian manufacturer of exclusive Alpine cheese and traditional manufactured butter with a turnover of more than € 15 million (total dairy group around € 30 million) and an EBITDA margin of around 10 % could be taken over as part of a succession plan.
Project No. 99.04


Traditional producer and distributer of chees from goat-, sheep- and cow-milk located in Northwestern Italy with a turnover of € 12 million (EBITDA margin 10%) and a subsidiary in the USA could be acquired.
Project No. 99.06


Cheese producer, mainly Taleggio and Gorgonzola, from Northern Italy, transforming up to 150,000 liters of milk per day with 50 employee, € 17 million in turnover, a 13 % EBITDA margin and strong export business, as well as a branch in the USA, is open to a strategic investor (currently 100 % family-owned).
Project No. 99.08


A fourth generation manufacturer of mainly Gorgonzola with a well-rounded production chain (including milk collection, cheese production, seasoning and packaging), 50 employees, a modern portfolio and an EBITDA margin of around 15 % is open to a possible participation.
Project No. 99.10


Italian company producing medium-hard and hard cheese in industrial scales as well as smaller quantities of soft cheese and butter with 40 employees and a turnover of € 30 million (EBITDA margin of around 6 %) could be taken over as a part of the succession plan.
Project No. 99.12


Strong growing Producer of soft and soft-medium cheese from Italy with € 22 million in turnover and around 7 % EBITDA margin, as well as around 80 employees is open for strategic partners.
Project No. 99.14


North Italian organic / BIO yoghurt specialist (also offering milk, butter, desserts, soy products and juices) with more than 30 years of experience in production and commercialization with a turnover of € 12 million and an EBITDA margin of around 9 % achieved by 45 employees could be taken over.
Project No. 99.17


Milk and yoghurt producer from Italy with a broad product portfolio and own milk collection of 100 dairy farmers in the region could be taken over. The company reaches with 40 employees a turnover of more than € 17 million with an EBITDA margin of more than 10 %.
Project No. 99.19



Delicacies

Strong Italian manufacturer of concentrated and double concentrated tomato paste with more than € 40 million in turnover and an EBITDA margin of 8 % as well as 125 employees could be taken over as part of a succession plan.
Project No. 99.22


A company, specialized in the processing of canned tomatoes, distributed under two own brands and private labels seeks a strategic partner for further expansion. The company has currently a processing capacity of 700.000 tons of tomatoes p.a. reaching € 25 million in turnover with a 8 % EBITDA-margin.
Project No. 99.24


Leading manufacturer of fresh ready-to-eat vegetables and fresh ready-to-eat meals with just under € 40 million at a 5 % EBITDA-margin and a workforce of around 90 could be taken over as part of a succession plan.
Project No. 99.26


Modern company involved in the preserved food business (vegetables, especially sauerkraut and cucumbers) with a production of more than 10,000 tons of vegetables annually and a turnover of around € 20 million (EBITDA margin of a 10 %) is open to strategic investors.
Project No. 99.29

Selected M&A-Opportunities (II)

Company Purchase
Snacks
Europe

Western European pastry producer with a turnover of € 500 - 750 million would like to further expand its market position and is looking for acquisitions across Europe. Strong brands are preferred.
Project No. 48451


Food production
German speaking regions

Successful group is looking for producers of food in the German-speaking countries to take over. Usually succession solutions of companies with at least € 1.5 million EBIT and > 8 % EBIT margin are preferred.
Project No. 175844


Software & electronics
Europe

Technology investor is looking for innovative, medium-sized technology companies with a unique market position. Business sectors: software, materials, electronics, industrial technologies, mechanical engineering. Should have a turnover of more than € 10 million and a positive EBITDA.
Project No. 158701


Various
Europe

Leading German private equity company is looking for investment targets in the field of IT, industry, chemistry, lifestyle and FMCG with more than
€ 25 million in turnover to acquire a majority stake.
Project No. 178736


Professional Kitchen Industry
German Speaking Regions

Strong European company is looking for manufacturers or solution provider in the area of professional kitchen equipment or refrigeration / blast chillers with a turnover between € 10 to 50 million to form an international group.
Project No. 99


Food (Rice)
Europe

Indian manufacturer of basmati rice with worldwide activities is looking for participation opportunities in Europe; sales of the Indian group: € 500 million; medium-sized players in the European market are preferred.
Project No. 158993R


Convenience Food (meat)
Europe

Strong British manufacturer of high-quality meat convenience products (beef, pork, poultry, lamb, etc.) is expanding; acquisition (majority stake) opportunities in the meat industry with a high level of processing and customized are sought; target markets are HOREGA, caterers, bulk consumers and convenience industry; target turnover: € 10 - 150 million.
Project No. 171473


Ready meal snacks
Germany

Well-known German industrial family plans to participate in innovative manufacturers of ready-meal products (refrigerated and frozen), such as snacks, sandwiches, finger food, wraps, salads, sushi, smoothies, coffee, etc.; target turnover: € 5 - 100 million.
Project No. 84421


Food Producer
Germany

European food group is looking for purchase opportunities especially in the field of pasta (dry and chilled), sauces, bakery products and dairy products mainly in Germany with a minimum turnover of € 10 million.
Project No. 174261


Industrial Service
Europe

German Industrial-Service-Group is looking companies in the areas of maintenance and quality assurance services, digitization, automation and IoT solutions for further expansion.
Project No. 174830


Medium-sized companies
German speaking regions

German investment company is looking for marketable, medium-sized companies with a minimum turnover of € 10 million with good prospects for participation in the majority stake.
Project No. 178927



--> Company Sale
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