Case Study J. Klausner Professional Multimedia GmbH

Successful handover of life's work

J. Klausner Professional Multimedia GmbH sold to heinekingmedia GmbH

Technology

Business Services

Klausner Logo

The structured process flows depicted on the Walther Transaction homepage appeared to enable the sale process to be handled in a targeted and comprehensible manner.

Edwin Klausner

Former shareholder J. Klausner Professional Multimedia GmbH
Year of transaction
1000
Potential buyers
0

Overview

Project description

The Klausner family was looking for a succession solution, as Edwin Klausner, shareholder and sales manager, intended to retire at the end of 2022. Due to this, the family wanted to sell their business shares. This was achieved through the sale to heinekingmedia GmbH. The exclusive advisor in the entire sales process was macx. GmbH. 

Involved companies

Seller: J. Klausner Professional Multimedia GmbH

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Buyer: Heinekingmedia GmbH

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Interview seller

Edwin Klausner

Former managing partner of J.Klausner Professional Multimedia GmbH

Mr. Klausner, what reasons led to the decision to sell your company? 

A large supplier asked me if there would be a possibility to take over our company. The question came as a surprise, but my daughter and I had already informed ourselves about the possibilities of a sale shortly beforehand. Due to my impending retirement, I had already asked my daughter before this inquiry whether she would like to continue with the company. The clear answer was that she did not want to take over sole responsibility as managing director for the company in the coming years. 

The previous sales negotiations with our supplier failed and so the second attempt with macx. was the last chance to sell the company before my retirement date.

Anführungszeichen

How difficult was this step for you?

I was very relieved about my daughter's clear positioning, because it made it clear to me that I would be able to enjoy my pension and would not have to keep thinking about my daughter's company. 

Why did you decide to use a professional M&A consultancy for the process of selling the company? 

After the previous negotiations with our supplier failed, we realized that a local approach was not a target-oriented way. We then researched the various ways to sell a company on the Internet and came across various M&A agencies. 

Why did you choose macx. How satisfied were you with the support of the process by the macx. team? 

The structured process shown on the macx. Homepage seemed to enable a target-oriented and comprehensible company sale. A subsequent video conference convinced us that we had found a professional partner in the macx. team. The processing via the macx. platform was ideally suited to the size of our company. 

What criteria were important to you when looking for a suitable buyer? 

Of course, the price was a decisive factor, as no further distributions could have been made from the well-performing company from the time of the sale. However, a strategy for the successful development of the company was also important, so that the location, the jobs for the employees and a successful, long-term future would be secured. 

What did you see as the biggest challenges in this transaction process and what do you think were the key success factors? 

In the time component. The negotiations and ultimately the sale had to be completed before my upcoming and set retirement date. The previous sales negotiations with our supplier had failed and so the second attempt with macx. was the last chance to sell the company before my retirement date. This date could not have been postponed for personal reasons. 

Why did you choose the offer from heinekingmedia?What opportunities does the entry of Heinekingmedia offer Klausner?

Heinekingmedia presented a good offer, but convinced us especially at the personal meeting in Innsbruck, although they were not in first place until that time. An important criterion was the personal appearance of our conversation partners but also that heinekingmedia sees the future primarily in software solutions and less in the sale of hardware. The concepts of the schul.cloud, the tafel.cloud and the provision of interactive learning materials, which are exactly adapted to the curricula of the respective countries, convinced us, because we also see a great future for this area. 

How satisfied are you personally with the sales process and its outcome?

In retrospect, we are very satisfied with the professionally handled sales process and the result achieved. There is a very good understanding with the management and the employees of heinekingmedia. A successor and a sales employee, who will take over my position in sales from next year, are already active in the company. The company can therefore look forward to a successful future. Our product range has already been expanded by the portfolio of heinekingmedia and presented to our focus partners. Through them a nationwide distribution in Austria, South Tyrol and Liechtenstein will be implemented. The introduction of the software solutions should take place in the near future. With this strategy of software and hardware the long-term success of the company is secured. 

 

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Interview Buyer

Markus Doetsch

Group CEO Heinekingmedia GmbH

How satisfied are you with the transaction and the integration of Klausner? 

We are very satisfied with the ongoing business at Klausner and have only carried out a few integrations so far. Our goal is to perform integrations only where they add value to Klausner. So far, we have only done one financial integration so that Klausner has similar reporting to ours. We have also personally visited Klausner's partners to explain the changes and reassure them that no major changes are expected. Our entire product portfolio will not be rolled out to Klausner until October, as we are doing a model and release change in October. We have been working over the last few months to position our portfolio to be complementary to Klausner's without disrupting their existing business. Our main interest is in software and content, and we don't want to forcibly change Klausner's existing portfolio, as partners are used to that. 

 

 

Our goal is to carry out integrations only where they add value for Klausner.

Anführungszeichen

How do you envision the future together? 
Heinekingmedia plans to expand its portfolio in the area of digital whiteboards and bulletin boards in the Austrian education sector and thus establish itself more firmly in this market. In the long term, the company intends to consolidate its software and content business in the field of communication and collaboration in the Austrian market, regardless of which hardware is used. This is the main focus and strategic direction of Heinekingmedia. 

What else has happened at Klausner after the takeover?
In order to make the handover of Mr. Klausner's responsibilities as smooth as possible, we hired a new business development manager in the summer who has the relevant experience and can largely take over Mr. Klausner's role. In addition, we are making efforts to hire an account manager for Tyrol to ensure direct business in this region. 

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Interview Consultant

Alexander Härtel

Managing Director macx. GmbH

Mr. Härtel, could you give us an overview of the sales project you recently completed?

An Austrian family business, which was jointly managed by father and daughter, was to be sold; the aim was to find the best possible solution for both the company and the family: The goal was to design a good succession solution for Edwin Klausner, who had helped develop the company over the last few years and managed the sales issues.  At the same time, his daughter wanted to have an option to leave the company without having to close it down. So a suitable buyer had to be found who would pay the best possible valuation and at the same time serve both of the family's interests. 

In order to achieve these goals, we looked very closely at the market and the industry and identified and approached more than 200 potential buyers. After their qualification in the course of intensive discussions, the closest prospective buyers remained. The decisive factor here at the end of the day was above all the personal meeting with the family and the accompanying lawyer, a friend of the family. All negotiations with the preferred potential buyers were accompanied by us. 

What challenges did you face during the project and how did you overcome them? 

The first challenge for us at the start of the project was that it was a rather small company in a very niche market. I.e., finding a well-fitting buyer is challenging. It also proved for us that by approaching the market broadly, including competition from the seller's previous "key accounts", we were ultimately successful. 

The second challenge was to mediate between a professional and experienced buyer and the sellers, who of course sell their company only once. It was very helpful that we had many discussions with the sellers and were thus able to manage expectations clearly. 

Our primary goal was to find a suitable buyer who would pay the best possible valuation while serving both of the family's interests.

Anführungszeichen

What went particularly well from your point of view? 

Firstly, the really close and trusting cooperation with the sellers, the Klausner family. In terms of the process, we were able to achieve a very good valuation and even improve it in the course of the process. This was mainly due to the bidding process, so that we were able to clearly include and evaluate the future potential of the company, based on framework agreements that had already been concluded.  

Were there any changes during the project compared to the original plan and how were these handled? 

As it often happens in project planning, the timeline was delayed a bit due to various issues and coordination. Nevertheless, the process went very well and was very organized. We received several very well-suited offers, which were improved upon and subsequently served as a good basis for decision-making for the Klausner family. 

What were the most important successes of the project and what key learning effects can you take away from the project? 

Well, I think one of the most important successes of the project was the confirmation that a broad bidding process and approaching more critical potential buyers was exactly the right way to find a suitable solution for the small company. We have found a buyer who combines and covers the interests of Mr. and Mrs. Klausner. 

How satisfied are you with the outcome of the transaction? 

I am very satisfied with the entire process, which is reflected not only in the result of the transaction but also in the feedback from the Klausner family, for whom we found a very suitable solution here. 

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