MULTI-FAMILY OFFICE INVESTMENT FIRM
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A rapidly evolving world offers huge opportunities, but also poses significant challenges for today’s wealth creators: economic uncertainty, increasing regulation, erosion of the right to privacy and public pressure to contribute more to society. In this environment, never has there been a greater need to protect wealth and manage family succession to ensure a lasting legacy. Winterberg Group is a multi-family office investment firm established and operated by a team of experienced investment and strategy consulting professionals. Our investment track record starts in 2011, and as of 2017 year-end, the value of assets under management is estimated at c. €200M. The investment team is based in Hamburg, Berlin, Munich, Moscow, and Johannesburg. The Group is headquartered in Zug.
Strategy
As an independent investment firm, we execute two investment strategies: Mature Stage Buyouts and provision of Early Stage Growth Capital. Our targets typically appertain to one of the two key global themes: Scalable Industrial Technologies and Emerging Middle Class.
StagesMature Stage Buyouts
We typically invest in majority stakes of small and mid-sized industrial technology-driven companies with proven and sustainable business models. Our targets are niche Mittelstand champions with future-viable products, unique selling propositions, experienced management teams, innovative power and potential for further growth. For many years, we have focused on industrial business models in selected sectors. With our experience, expertise, capital, and global network we support our portfolio companies in implementing their sustainable, value-creating corporate strategies. Our active entrepreneurial approach to investing has made us a preferable investment partner in mature economies in Europe (e.g. Germany, UK) and elsewhere. We have achieved superior performance over many years – for our portfolio companies as well as for our shareholders and investors.
Early Stage Growth Capital
We typically invest at an early Seed or Round A stage and aim to acquire a significant minority stake in the fast-growing future unicorns. Our targets are disrupting large traditional markets and business models, growing exponentially, have unique product or service offering and are led by prominent and motivated founders. Our active investment approach is based on an aim to deliver sustainable returns over the long term and make a difference in what we do. Therefore, we support the founders with guidance and value creation efforts all the way from our entry to exit. We build concentrated portfolios driven by strong conviction and high support. Unlike some other VCs, we do not expect just one company to drive our returns. We are intensely committed to all of our portfolio companies – we don’t write off & walk away from them when they have hard times.
TOPICSScalable Technologies
We invest in the next stage of legacy industrial technologies from developed markets that facilitate progress by introducing innovations to emerging markets. Our screening process is focused on producing SMEs whose B2B products are scalable globally and who could benefit from our technology commercialization expertise.Recent Winterberg Group deals:
Emerging Middle Class
We invest in products and services that tap into the next billion consumers by addressing the needs of an uprising Middle Class. Due to our global presence, we understand how demands, tastes and buying patterns of these consumers vary and therefore are able to provide invaluable insights for the emerging markets expansion.Recent Winterberg Group deals:
Approach
- We are free to make our own decisions: the partners you deal with are decision makers.
- We can quickly establish a level of interest in and commitment to an opportunity and execute the transaction in a timely manner.
- Our approach to structuring deals is flexible and allows to accommodate the interests of all parties involved.
- We say what we mean and we do what we say: once we have decided to invest, we deliver.
- We offer expertise that no other financial investor could provide: combining unique perspectives from entrepreneurship, strategy consulting, Private Equity and Venture Capital in a global context.
Investment Criteria
MATURE STAGE BUYOUTSIndustries
- Agricultural Machinery & Technologies
- Pumping Equipment & Systems
- Industrial Measuring & Analytical Tools
- Engineering Services
Location
- Mature European Economies
Business Model
- Manufacturing and/or value-add services (e.g. engineering)
Financial Performance
- Sustainable long-term revenue growth in line with the industry cycles
- EBITDA of €1-10M, with a sweet spot at €1-2.5M
- EBITDA margin of over 5%
- Positive free cash flow
- Going concern
Preferred Background
- Niche Mittelstand champion: strong technology / clear USPs
- Revenue expansion potential (e.g. via export, new products and services)
- Typically mature, family-owned businesses with current owners looking for successors
Deal Type
- Acquisition of 51-100% of the company
- EV range: €5-50M, with a sweet spot at €5-10M
Early Stage Growth CapitalIndustries
- Transportation & Mobility
- Sharing Economy
- Internet of Things
- Health & Fitness
- Marketplaces
- Cyber Security
Location
- Europe
- US
- South Africa
Stage
- Seed / Round A
Traction
- Product is launched
- Monthly revenue above €20k
Preferred Background
- Founders team with the following background: serial entrepreneur, tech geeks, Big-3 consulting, Bulge Bracket investment banking, top-MBA alumni
- Angel investors / Advisory Board with reputable members
Deal Type
- Primary shares
- Ticket size €0.2-2.0M
- Equity stake of 10-50%
- Winterberg can lead the round in syndicated deals
Team
FABIANExecutive DirectorAreas of expertise include M&A, business strategy, commercial excellence and turnaround
Focus on industrial goods, financial technology and natural resources sectors globally
Leads the establishment of Winterberg’s Industrial SME holdings and buy & build strategy in Cleantech, Internet-of-things, and other industries
Extensive consulting experience at The Boston Consulting Group
FLORIANExecutive DirectorAreas of expertise include investments, business strategy, and technology commercialization
Focus on mining, agriculture and industrial goods sectors in Europe and CIS
Setup and co-run Anglo American Platinum Technology Fund (PGMDF)
Leads Winterberg’s technology practice
Extensive consulting experience at The Boston Consulting Group
LORENZOExecutive DirectorAreas of expertise include VC / PE investing, corporate strategy and M&A
Focus on technology, industrial goods, and natural resources sectors in Europe and Africa
Member of the Young President Organisation (YPO) in Africa
Leads Winterberg’s technology practice
Strategy consulting experience at Bain & Company in Italy and France
RALPHExecutive DirectorAreas of expertise include M&A, business strategy, turnaround, transformation, and operations
Focus on industrial goods and mobility sectors in Europe and CIS
Leads Winterberg’s investments in Mobility, buy & build strategies in Cleantech and SMEs, Sports & Fitness, and other industries
Responsible for Winterberg's investment strategy in the emerging global middle class' driven industries
Strategy consulting experience at The Boston Consulting Group and A.T. Kearney
Ilnur Senior Investment Principal12y+ experience in investments
Led the built-up of Top-5 uranium mining company via a range of M&A deals
Business Angel for multiple US and CIS startups
Extensive expertise in M&A across such sectors as Metals & Mining, Infrastructure and IT
Studied Management at Moscow Finance University
GrigoryInvestment Principal6y+ experience with top-class international Private Equity and Venture Capital firms and bulge bracket investment banking
Deal experience includes 7 deals closed with the leading European and US companies across various sectors with total amount of equity invested exceeding $2.5bn
Studied Finance at Moscow Finance University
AntonSenior Investment Associate4y+ experience in international Private Equity and Investment Banking
Top-tier Investment & M&A experience across Western-European and North-American markets in various sectors, including infrastructure, real estate, TMT, healthcare and industrials
Studied Investment Management at Imperial College London, UK
Portfolio
Scalable Technologies
Likusta - Acquired in 2017Since 1978, Likusta has been successfully operating as a systems and equipment manufacturer for environmental technologies. Likusta provides high-quality systems for drinking and wastewater treatment as well as for waste gas treatment. Tested and certified for excellent quality, Likusta provides high-graded products
Z-Wave Europe - Acquired in 2016Z-Wave is the international standard for wireless communication between smart devices in private and business areas. It is compatible with over 2.4k products that cover lighting, climate control, heating, security and safety, energy saving or assisted living applications. Z-Wave Europe has in-house hardware development capabilities, but also acts as distributor for over 700 hardware manufacturers worldwide.
eSightenergy - Acquired in 2018eSight is a globally recognized leading provider of energy management software and services. The software is used by high-profile, multinational companies helping to reduce energy consumption and costs by up to 30%. Solutions are delivered to businesses form wide range of sectors including Aerospace, Breweries, Property Managers, Health, Education, Pharmaceutical and Chemicals
Panono - Acquired in 2017Panono 360° is the only one of its kind in the field of 360-degree panoramic photography with extremely high resolution, fully automated stitching of the shot and. Its outstanding image quality allows a high zoom level and extra-high resolution of 108MP. Panono is already being used by major international customers worldwide, including Lufthansa, BMW, Universal and others
SingularSingular is a strategy consulting firm with a global footprint. With clients in Europe, Africa, Russia/CIS, Asia and Latin America, Singular advises on business strategy, investment-related topics and on digitalization & innovation. Singular is committed to achieving superior and sustainable results for the international corporations, family businesses and Private Equity funds it serves.
FourPointZeroFourPointZero identifies, and partners with, the most innovative solutions from around the globe that are working to revolutionize industries, accelerate growth and reverse the slowdown in productivity. By developing a unique origination framework to discover and assess innovate technologies, FourPointZero has partnered with some of the leading 4.0 solutions. FourPointZero's network of experts, from around the world, plays a crucial role in assisting in vetting technologies to ensure that the evaluation criteria are upheld.
Emerging Middle Class
Belka Car - Acquired in 2016Based in Moscow, Belka Car is a leading car-sharing company with the highest number of cars (2.1k) in the city – the world’s largest and the most prominent market for car-sharing. In summer of 2017, Belka Car became pioneer in the segment of premium car-sharing when it started offering over 400 Mercedes-Benz cars in 2017.
Ludus - Acquired in 2018Ludus is the largest martial arts club in the CIS (and 2nd in the world) thanks to its unique structure, wide membership and strong brand recognition. Moreover, Ludus team is 11 times World BJJ Champion and has more than 2600+ members in 35 cities and 5 countries.
Red Roof Bentonville - Acquired in 2017RedRoof is one of the largest hotel chains in the United States with over 500 properties across the country. Located near the Walmart’s headquarter, RedRoof Bentonville primarily serves its employees, suppliers and contractors. Every year, millions of people travel there from all over the world for business trips.
Silvertree Internet Holdings – Invested in 2016Silvertree is a holding and operating company, based in South Africa, that conceives, launches, operates and invests in early- and mid-stage companies targeting the South African and Sub-Saharan African markets. Silvertree focuses on capital efficiency and operational discipline.
News
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Company Offices
Zug:
Baarerstrasse 43, 6300 Zug, Switzerland
Hamburg:
Grosse Johannisstrasse 7, 20457 Hamburg, Germany
Munich:
Kaiserstrasse 14a, 80801 Munich, Germany
Berlin:
Französische Strasse 9, 10117 Berlin, Germany
Moscow:
D3, Suschevskaya Street 25/1, 127055 Moscow, Russian Federation
Johannesburg:
Rudd Road 25, Illovo 2196, Johannesburg, South Africa