A Fast Track to a New Ownership Environment
M Refine Group is a Serial Refiner that acquires, transforms and develops B2B companies facing challenging situations.
An Alternative to a Traditional Sales Process
M Refine Group acquires B2B companies facing challenging situations where the current owners require a structural, operational or financial solution. These companies are historically profitable, with established customer relationships and a commercial core to build on. The company does not need to be insolvent. The situation may, for example, relate to profitability, liquidity, governance, generational transition, ownership disputes or the business no longer being a strategic priority for its current owners. Following the takeover, we work actively alongside the company’s management. The development process is primarily driven through business development and transparent governance, tailored to the specific circumstances of each company. The acquisition is the starting point. We take responsibility for stabilising and developing the business in a new ownership environment. The first priority is positive cash flow, followed by margin expansion and growth.
Together with management in each business area, we develop tailor-made strategies that combine business development with cost efficiency. Our specialist knowledge and active support create added value for both the company and its stakeholders.
Our acquisition model is based on win-win: where the seller sees the value in the company entering a new context, where we take responsibility for creating a sustainable future. The goal is always to shape companies with positive cash flows – a strong platform for future growth.
Acquisition Process
01
Initial Dialogue
We begin with an open dialogue about the company’s situation, the seller’s objectives and the timeline. At the same time, we explain M Refine Group’s approach and the conditions that need to be in place for a potential transaction. If there is mutual interest, we proceed with a high-level initial assessment and discuss a potential transaction structure.
02
Indicative Transaction Structure
Following the initial dialogue, we outline a potential transaction structure and the key conditions for a transaction. If both parties see a clear fit, the process moves forward with a non-binding indicative offer.
03
Indicative Offer
M Refine Group presents a non-binding indicative offer outlining the key principles of a potential transaction. If the seller sees a continued fit, the process moves forward to focused due diligence and transaction documentation.
04
Due Diligence and Agreements
Once the key principles have been agreed upon, the process moves into focused due diligence and transaction documentation. We concentrate on the matters that are critical to the business in question and work towards a practical transaction structure and a clear path to completion.
05
Completion and Next Steps
Followng completion, the transition into M Refine Group's ownership Structure begins. We focus on continuity for customers and employees while quickly establishing the governance and improvement measures required by the situation. The transformation phase then begins, followed by the subsequent steps of The Refinement Model. When the situation requires it, we can act quickly. From confirmed interest and acceptance of the indicative offer to completion, the transaction process is typically completed within approximately 10–30 days.
We acquire from
Serial acquirers & larger groups
Serial acquirers and larger groups create value by developing and expanding their core businesses. At the same time, individual portfolio companies may find themselves in situations where profitability, liquidity, governance or strategic fit require a disproportionate amount of management time and operational focus. When a business no longer fits the current owner’s model, M Refine Group can provide a clear new ownership environment. We take responsibility for the transformation and development of the business, with a focus on stabilisation and long-term profitability.
Owner-Managed Companies & Industry Peers
We primarily look for established B2B companies with revenue of approximately SEK 20–200 million, historically profitable and with established customer relationships, where the owner requires a solution due to, for example, a generational transition, changing ownership ambitions, weaker profitability or a strategic reprioritisation. The company does not need to be insolvent. What matters is that there is a commercial core to build on and a situation where a traditional sales process is not the natural option.
