Contained in the Deal
A Finance Month-to-month “Contained in the Deal” function
Sector: Administration Consulting / Automotive & Industrial
Transaction Kind: Majority acquisition with phased full takeover
Deal Standing: Accomplished
Completion Date: January 2026
Studying Time: 5 minutes
Contained in the Deal is Finance Month-to-month’s transaction function combining impartial deal protection with in-depth advisor perception into how advanced offers are structured and executed.
Deal Overview
EFESO Administration Consultants has acquired a majority stake in Tsetinis Consulting, an Austria-headquartered consulting agency specialising in end-to-end efficiency enchancment for automotive and manufacturing purchasers.
Based in Austria, Tsetinis serves industrial purchasers worldwide and is recognised for its proprietary enchancment strategy integrating product efficiency, sustainability targets, and enterprise outcomes. The agency has constructed a powerful status within the automotive and manufacturing sectors by combining established best-practice methodologies with a sustained concentrate on innovation and long-term operational affect.
Below the transaction, Tsetinis will turn into a part of EFESO, a number one worldwide pure-player consulting group targeted on industrial operations technique and efficiency enchancment, working throughout greater than 35 workplaces globally. The acquisition is structured as a majority stake with a phased path towards full possession, permitting the companies to proceed cooperating operationally in the course of the transition interval.
EFESO, headquartered in Paris and majority-owned by Eurazeo, works carefully with purchasers to speed up transformation towards future-proof operations. Every year, the group delivers greater than 1,000 tasks worldwide, supporting organisations in attaining measurable efficiency enhancements alongside lasting, sustainable change.
EFESO was suggested on the transaction by Fowl & Fowl, with Austrian authorized recommendation supplied by Graf Patsch Taucher Rechtsanwälte GmbH. ZF Friedrichshafen was suggested by KPMG Regulation, whereas Houlihan Lokey acted as unique monetary advisor to Tsetinis Consulting.
Transaction Context
The acquisition concerned a compressed timetable, a number of jurisdictions, and competing bidders, requiring parallel due diligence and documentation throughout Austria, Germany, France, and the USA. The transaction construction was designed to help phased possession whereas preserving operational continuity throughout integration.
Contained in the Deal: Advisor Interview
Bernd Taucher
Associate, Graf Patsch Taucher Rechtsanwälte GmbH
Function: Austrian Authorized Advisor to EFESO
Bernd Taucher, Associate at Graf Patsch Taucher Rechtsanwälte GmbH
Are you able to inform us extra about your involvement on this acquisition?
I’ve identified Stefan Münch from Fowl & Fowl in Munich for fairly some time, however we had by no means had the chance to work collectively on a bigger M&A transaction earlier than. EFESO has been a consumer of Fowl & Fowl France’s companion Bertrand Levy, who launched the German Fowl & Fowl company apply to EFESO.
Since Tsetinis Consulting is included in Austria and likewise has German and US subsidiaries, Austrian counsel was required for the transaction. That’s how we turned concerned, and we labored carefully with the Fowl & Fowl groups to efficiently run the transaction collectively.
What specialised expertise and expertise did you and your colleagues draw upon as a part of your work?
I’m an M&A, non-public fairness, and company finance lawyer and was initially skilled for a few years at one among Austria’s main company regulation corporations. Graf Patsch Taucher has operated as a boutique agency for practically 20 years, and now we have developed a powerful monitor file in worldwide company and transactional issues.
Our purchasers embrace corporations reminiscent of HEAD, SIMMO AG, Cover Progress, APS Group, Emeren Group, Swiss Well being & Vitamin AG, and Borealis, all of whom now we have suggested on company finance and M&A tasks. We’re additionally very energetic within the start-up and development firm sector, advising companies reminiscent of FL3XX and EFS Consulting on convertible loans, non-public fairness investments, and M&A transactions.
We work in lean groups, which permits for direct companion involvement at each stage of a transaction — one thing our purchasers worth extremely.
What are a very powerful components to remember when advising on an acquisition of this nature?
For my part, two issues are essential. First, communication. Good attorneys remedy issues, however glorious attorneys ask the appropriate questions earlier than doing so.
Typically, we turn into concerned after a letter of intent has already been signed and a transaction construction proposed. By absolutely understanding the consumer’s business targets, we are able to assess whether or not that construction actually serves their pursuits or whether or not changes are wanted.
As soon as a construction is agreed, it’s equally essential to know the counterparty’s pursuits. M&A tasks at all times contain events with differing priorities, however the aim is to succeed in an answer that works commercially and legally for each side. We intention to be agency on substance whereas sustaining constructive communication with the counterparty and their advisors.
Did you encounter any challenges in the course of the transaction?
Each transaction has its challenges, and on this case essentially the most vital was timing. The proposed timeline was extraordinarily tight, and there have been different bidders concerned within the course of.
We needed to conduct a targeted however thorough due diligence whereas concurrently negotiating and drafting the share buy settlement, shareholders’ settlement, up to date articles of affiliation, and numerous ancillary paperwork, together with filings for public registers and powers of lawyer.
The one method to handle that was by means of intense coordination, lengthy working hours, and absolute focus throughout all groups concerned.
How does this transaction mirror your agency’s wider apply?
The EFESO–Tsetinis transaction matches our profile completely. Greater than 70% of my company work is worldwide, and this deal concerned coordination between Austrian, German, French, Belgian, Dutch, and US stakeholders.
Our consumer was headquartered in Paris, and we labored carefully with EFESO’s senior administration and advisors throughout a number of jurisdictions. This sort of cross-border coordination is strictly the place we add worth.
Do you’ve any last reflections on the deal?
I’m very grateful for the chance to work with such skilled and well-organised groups on each side of the transaction. That features EFESO and its shareholder Eurazeo, in addition to the vendor, ZF Friedrichshafen AG.
It was a demanding course of, but additionally a really rewarding one, and a pleasure to carry the transaction to a profitable shut collectively.
About Contained in the Deal
Contained in the Deal is Finance Month-to-month’s transaction-focused interview sequence, combining impartial deal reporting with advisor perception to clarify how advanced transactions are structured, negotiated, and accomplished.
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