A transaction structure built on mutual success
M Refine Group is a specialized corporate group and investment company that sees opportunities where others see challenges.
We build business on win-win
M Refine Group is a specialized group and investment company that sees opportunities where others see challenges. We identify the potential in companies that are in challenging situations - in a different way and with different tools than traditional investors. Our methods and processes always aim at the long-term goal of achieving stable, fine and profitable businesses. We welcome complex acquisitions, because our strength lies in transforming the difficult into something valuable. Often, sellers of companies find us as the solution to something that other investors' business models are not equipped to handle. In our ecosystem, companies that, for example, do not fit optimally with previous owners get a new chance to develop in our environment that is based on learning that lays the foundation for long-term improvements.
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
Discussions are initiated
Initial dialogue and needs assessment, where we review the company together with the seller as a project team to evaluate business objectives and potential, both short- and long-term. We begin with an open and transparent meeting to understand your goals for the sale and to give you a sense of M Refine Group’s corporate culture and intentions. If both parties remain interested, we jointly proceed to the next step with an indicative business proposal.
Our timeline for the acquisition process is tailored to the needs of the company and/or the seller. It is possible to complete a transaction within a few days if there is an urgent need, but if there is reason to be thorough and ample time is available, we adapt the process to the seller’s requirements in a more traditional manner.
02
Indicative business proposal
The seller receives an initial indicative business proposal, which is then followed by a number of iterations conducted jointly in a project format. If both parties continue to see a potential fit, the next step is for the seller to be presented with a more formal, indicative and non-binding offer.
03
Indicative offer
Our next step is where M Refine Group submits a non-binding indicative offer, a more detailed business proposal where we express our intention to explore a possible deal in more detail together. If the seller still finds it compelling, we proceed to a draft agreement.
04
Agreement
Once the seller and M Refine Group have reached an agreement on the terms of a transaction, we will prepare a complete draft agreement package to initiate detailed discussions to resolve the important outstanding issues for the future of the company under new ownership. Once we reach an accord, our legal teams will draft the final agreement, which we will jointly review and approve. In traditional transactions, there is often a process of “signing” and “closing” with a period of time between these two steps in an acquisition. It is relatively common in our processes for signing and closing to coincide at the same time, but in some cases we also have a period of time between these events. Oftentimes there is an urgent need to be able to act quickly with improvement measures, and thus our process is effective for the company concerned.
05
Closing
With a signed agreement, we begin planning the integration of your company within ours. This process is flexible and adapts to new insights and circumstances that may arise. We work together to ensure a smooth transition for both staff, customers and other stakeholders for the best results given the company's status.
We acquire from
Serial acquirers & larger groups
Serial acquirers & larger groups consolidate industries and expand profitable businesses. Even in the most well-managed portfolios, individual acquisitions can end up in challenging situations for various reasons. Challenging situations require extra resources as well as management's time and focus, where specialist knowledge and tools are needed to correct what is not the core competence of, for example, well-functioning serial acquirers. In that situation, a potentially very profitable alternative is to divest the portfolio company with the challenging situation to M Refine Group, which adds specialist competence to the company.
Industry colleagues
Industry peers are companies with operations closely related to our business areas. When a need to divest a company arises for an owner, while the company has a challenging situation and is not ready for a structured sale to traditional investors, M Refine Group can be an interesting alternative as a buyer. The reasons can also include strategic reprioritization, generational changes or that a business, or part of a business, no longer fits into other core operations.
