Nikolaos Giatrinis never gave up hope—the hope that good things come to those who wait. The Franconian entrepreneur was looking for a successor for his business due to his advancing age. He never would have imagined it would take six years to find the right person. But he had to be thorough, because N.K.G. Sondermaschinen GmbH & Co. KG was like a child to him. He wanted it to thrive under its new “father.”
Company for Sale
Dieter Marg, too, had been thinking about returning to Germany from abroad for a good five years. For over 15 years, the engineer had held various positions at a large company, including eight years in the U.S. and England. A friend who had taken the plunge into self-employment by acquiring a company had given him the idea of starting his own business. That friend’s positive experiences inspired Marg to take the same path in Germany. The mechanical engineer first drew up a profile of his ideal company. “For me, factors such as the financial conditions, the business model, and the geographic location were among the decisive factors in my search,” Marg explains. When he came across an interesting listing during his online search on the German Entrepreneurs’ Exchange (DUB.de), he didn’t yet know that it was N.K.G.: The listing had been posted anonymously.
Business Consultant for Succession Planning Steps In
After several unsuccessful attempts to find a successor, Giatrinis turned to business consultant Harald Deininger. With his professional support, things began to move forward—among other things, the DUB.de ad was placed. “Buying or selling a company places high demands on everyone involved. That’s why the entire process should be guided by a competent third party. We have extensive experience in the field of buying and selling companies and were thus able to provide expert support in this case,” says Deininger. After Marg signed a confidentiality
, initial contact was made with Giatrinis. And the chemistry between the two clicked right away.
This was because Marg not only had knowledge of the subject matter but also the necessary capital to take over the company. According to Giatrinis, these were important factors that were often completely lacking in previous applicants. But financial resources aren’t the only requirement. “Special-purpose machine manufacturing is a matter of expertise, experience, and trust. That’s what I expected from my successor as well,” says Giatrinis. These qualities are part of his success. Since 1989, Giatrinis and his employees have proven day after day that it works—across a wide variety of industrial sectors.
Smooth Purchase Negotiations
The subsequent negotiations proceeded like a well-oiled gear mechanism. Thanks to the mutual trust and the partnership that was now developing, the parties even jointly retained a lawyer to work out the contractual details. Thus, on September 1, 2015, the sale was officially finalized and celebrated with the nine employees at a barbecue. Even after the successful completion of the sale, Giatrinis remains available to the company and its new managing director in an advisory capacity as well as to provide design
work. Knowing that he, Marg, can draw on his predecessor’s expertise and contacts, he is optimistic about the future of N.K.G. Sondermaschinenbau GmbH. “The company has a lot of potential. We want to grow and, in addition to one-off pieces in special-purpose machine construction, also produce smaller series. That way, we want to tap into new markets and become more productive,” explains Marg.
Good Matching Opportunities for Companies
Marg’s approach of “buying instead of starting a business” is the motto of the German Entrepreneurs’ Exchange (DUB). DUB.de Managing Director Nicolas Rädecke says: “We are very proud of successful matchmaking like this. After all, the issue of business succession is a serious problem for our economy that can jeopardize numerous jobs.” The Unternehmerbörse provides effective help in solving this problem. Last year, 87 percent of listings led to contact inquiries. 71 percent generated more than one inquiry, and 46 percent of the listings were clicked on by five or more interested parties.
Key Points at a Glance
Buying or selling a business places high demands on all parties involved. Many parties therefore choose to have the entire process managed by a competent third party.
