As climate change’s adverse effects continue to manifest globally, there has been a marked increase in Atlantic Ocean temperatures, currently three degrees hotter than historical averages. For private equity (PE) investors, the ramifications of such climatic changes are far-reaching and necessitate a rethinking of investment strategies. Climate adaptation – the process of adjusting to the […]

Importance of Getting the Normalizations Right The EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) holds a significant position as a key performance parameter. It serves as a metric to evaluate a company’s operational efficiency and profitability. However, there is probably only a few companies out there, where the reported accounting EBITDA shows the full […]

As the global community continues to face the challenge of climate change, the transition from fossil fuels to renewable energy sources has become a top priority. In Germany, the energy transition, or “Energiewende,” is well underway, aiming to achieve a sustainable, low-carbon energy system by 2050. Key drivers of this transition include the expansion of […]

The Mittelstand companies in the DACH region (Germany, Austria, and Switzerland), characterised by their small to medium size and often family-owned operations, are essential to the economic stability of their respective countries. However, these firms frequently fly under the radar of many larger institutional investors. Yet, for those with strategic foresight, these very enterprises offer […]

The world of mergers and acquisitions (M&A) and private equity (PE) has undergone a significant transformation in recent years, driven by the rapid advancement of digitalisation. Digital technologies have improved various aspects of these industries, including deal sourcing, matchmaking, due diligence, valuation, and parts of the post-merger integration. Streamlining sourcing and matching Digitalisation enables the […]

The world of alternative investments is vast and encompasses many asset classes. Two of this space’s most prominent investment strategies are Private Equity and Venture Capital. These asset classes have unique characteristics, risks and potential rewards for limited partners (LPs), i.e. investors in Private Equity and Venture Capital funds. In this article we will explore […]

GDP: Recession is not happening With the release of robust data for Q1 2023, there is growing optimism that Germany’s GDP may avoid a decline in 2023, thus averting a recession. The global economic landscape, including issues with global supply chains, has improved significantly. However, despite this improvement, there remains a heightened level of uncertainty. […]

Investing in Small and Medium-sized Enterprises (SMEs) can be an attractive option for Limited Partners looking for investment opportunities. SMEs can offer the potential for high returns and a chance to support emerging businesses and the broader economy. However, potential downsides also need to be considered before making any investment decisions. We at Winterberg Group […]

A record $12.8 trillion assets under management (AUM) in private equity in 2022 results in a strong competition on the buy-side across all ticket sizes. To stay ahead of the competition, modern private equity funds had to adapt by creating new value propositions targeting the sellers. The new generation of private equity emerges more and […]

The DACH region (Germany, Austria, and Switzerland) is known for its robust economy and strong industries. One important feature of this region’s economy is the prevalence of small and medium-sized enterprises (SMEs), also known as Mittelstand. These companies are critical to the region’s economic growth, as they account for the majority of employment and GDP […]