Mark Dittli
Editor in Chief
Finanz und Wirtschaft
At some point almost all companies face situations when strategic M&A decisions need to be made. Some even find themselves regularly in this position. The trigger of a transaction is often a business’ life cycle. However, economic changes and political trends as well as tough competition and the need for innovation might also call for a repositioning in the market.
Join our qualified sector representatives for a discussion on the following and other M&A topics:
Appetite for acquisitions: how to succeed in post-merger integration, how to push innovation through acquisitions and a focus on mastering the due diligence process
Challenge digitalisation: what changes does it bring to the M&A process, what opportunities does it offer and how to deal with the threat of cyber crime
Global turmoil: how political and economic situations around the globe affect the overall acquisition activity
Myth of private equity: what are the real implications of a takeover by a private equity firm – and what are not?
Please join us for a comprehensive day focussing on M&A issues with plenary sessions on topics essential for business success.
Mark Dittli
Editor in Chief Finanz und Wirtschaft
Registration and welcome coffee
Welcome address by the moderator of the day
Mark Dittli Finanz und Wirtschaft
Global economic trends and their implications on M&A deals
Martin Naville Swiss-American Chamber of Commerce
Felix Sutter Swiss-Chinese Chamber of Commerce
Acquiring while being acquired – double the challenge, double the opportunity!
Xavier Rossinyol gategroup
Global M&A: planning for successful post merger integration
Rodolfo J. Savitzky Lonza Group AG
Coffee and networking break
Successful post merger integration in an international context
Wolfgang Eckert RUAG
Dr Thomas Eisenring HOCHDORF Holding AG
Mads Joergensen Georg Fischer Piping Systems
Thomas Stöcklin Calida Group
Private equity takeover: blessing or curse?
Christophe Bézu Odlo International AG
Dr Prisca Havranek-Kosicek Kuoni Group
Heinz Kundert VAT Group
Dr Michael Petersen Cross Equity Partners AG
Networking-Lunch
TOPIC 1
New trends in due diligence
Dr Stephan Bergamin Gearbulk Group
Dr Markus Braun School of Management and Law ZHAW
Viktor Lir Axpo Power AG
Dr Adriano Margiotta Valora
Moderation: Roman Tarlavski CMS Amsterdam
TOPIC 2
Serial buyers’ race for innovation
Felix Burkhard Galenica Group
Jean-Luc de Buman SGS
Andreas Olloz Coop
Dr Christoph Sutter Axpo Power AG
Moderation: Martin Frey PwC Switzerland
Coffee and networking break
M&A Insurance as deal facilitator
Dr Dennis Froneberg AIG
European M&A outlook 2017
Stefan Brunnschweiler CMS Zurich
Challenging the M&A processes: digitalisation and cyber security
Dr Markus Häuser CMS Munich
Samuel Hügli Tamedia
Rafic Mecattaf Panalpina
Wolfgang Schurr PwC
Acquiring players, managing potential
Bernhard Heusler former FC Basel
Summary by the moderator of the day
Mark Dittli Finanz und Wirtschaft
Networking and drinks
Christophe Bézu, 59, was appointed CEO of Odlo International in June 2015. He brings with him 24 years experience in the sports clothing industry. The Frenchman has spent most of his career at adidas, initially as Marketing Director. In 1998 he became President and Managing Director of the company’s Japanese operation and in 2003 went on to head up the group’s Asia Pacific region. In 2010 he guided the restructuring of the Chinese adidas group in his role as Managing Director and global Chief E-Commerce Officer.
Before Prisca Havranek-Kosicek was appointed Chief Financial Officer at Kuoni Group on 1 March 2016, she was Group Treasurer of Royal DSM, a Dutch company globally active in health, nutrition and materials. In 2011 she took the VP Finance & Control role at the DSM Pharma Chemicals Business Unit based in Austria. One year later she was promoted to CFO of the DSM Pharmaceutical Products Business in New Jersey (USA). Prior these appointments she was responsible for Group Controlling at Immofinanz worked as Head of Investor Relations at Austrian Airlines Group and Head of a Business Unit of the Austrian Post. After her Master Degree from the University of Economics of Vienna she joined Roland Berger Strategy Consultants in 1998. For seven years she worked for large corporate customers in various industries across Europe and Southeast Asia focusing on strategy development, corporate restructuring and M&A. During this time she also completed her Ph.D in Business Administration. She currently holds a Board position at Allianz-Elementar Versicherungs-AG, Austria.
Bernhard Heusler studierte Rechtswissenschaften an der Universität Basel. Im Jahr 1992 wurde er dort zum Dr. iur. promoviert. Nach Studien und Anwaltstätigkeiten in den USA arbeitete er ab 1994 in der Kanzlei Wenger Plattner, ab 2000 als Partner. Seit 2014 ist er als Konsulent bei der Anwaltskanzlei Walder Wyss in Basel tätig. Ab 2008 führte und ab 2012 präsidierte Bernhard Heusler die FC Basel 1893 AG, welche rund 200 MitarbeiterInnen beschäftigt. Unter seiner operativen Leitung gewann der Club den Schweizer Meistertitel acht Mal in Folge und qualifizierte sich sechs Mal für die Champions League; parallel steigerte der Club seinen Umsatz von rund CHF 30-40 Mio. auf zuletzt CHF 100-130 Mio. Neben seinen Aktivitäten im Bereich des (Fussball-)Sports bekleidet Bernhard Heusler eine Anzahl Verwaltungsratsmandate.
Mads Joergensen 25+ years of management experience in advanced corporate finance. Group-wide responsibility for financial reporting (Swiss GAAP FER/IFRS), treasury, FX Management, sustainability/ESG, investor relations and internal audit. Established reputation for state-of-the-art financial management, capital market / investor communication, M&A and cyber security. Extensive experience as international non-executive board member with an in-depth understanding of audit committees, corporate governance, compliance and Asian markets. Expert knowledge in accounting, corporate finance, valuation and sustainability. Delivered a string of successful acquisitions and several decisive global efficiency / performance improvement projects (costs, NWC, etc.). Wide-ranging business experience: industrial products, light building materials, automotive, machine tools, airline/hospitality and IT. Self-starting, persistent financial leader with a passion for building high performance teams.
Heinz Kundert ist seit 2015 CEO der VAT Group und war zuvor seit 2014 im Verwaltungsrat der VAT. Er besitzt langjährige Erfahrung in Senior Management Positionen in der Technologiebranche, vor allem in der Halbleiter-, Vakuum- und Beschichtungsindustrie. Von 1999 bis 2004 war Heinz Kundert COO und später CEO von OC Oerlikon (ehemals Unaxis). Danach war er als Strategy Consultant tätig und diente im Verwaltungsrat von SEMI International, einem globalem Halbleiter-Branchenverband mit Sitz in San Jose, CA, USA, seit 2005 als Vice President. 2005 wurde Heinz Kundert zum President SEMI Europe in Berlin gewählt. Heinz Kundert besitzt einen Abschluss in Maschinenbau, Business Management und Betriebswirtschaft mit einem staatlichen Diplom der FAH/Universität St. Gallen, Schweiz
Mr. Rossinyol has more than 20 years of experience in the airline service industry, including airport contract catering, duty-free and duty-paid shops, licensing activities, and food and beverage management experience. He also has a strong track record when it comes to performing in equity markets. Prior to joining gategroup, Mr. Rossinyol was at Dufry, a leading global travel retailer operating in 60 countries, where he served as Chief Operating Officer EMEA and Asia from 2012 to 2015, and Chief Financial Officer from 2004 to mid-2012. During his time at Dufry, Mr. Rossinyol was accountable for the company’s profitability, including material turn-arounds and business restructuring. He led more than 10 post-merger integrations across several continents as well as M&A activities across Europe, the U.S., Latin America and Asia. He also opened close to 15 new markets in Europe, Africa and Asia. From 1995 to 2004, Mr. Rossinyol worked for Spanish based Grupo Áreas (part of the French publicly traded Group Elior, a world-leading company in both contract and concession catering). There he oversaw new business opportunities in Spain and internationally as well as strategic planning, reporting and controlling. Mr. Rossinyol has a BBA and an MBA in International Management and Finance from ESADE (Barcelona, Canada and Hong Kong) and a Master in Business Law from Universidad Pompeu Fabra, Barcelona. Mr. Rossinyol is a Spanish citize
Dr. Stephan Bergamin ist CFO der Gearbulk Group. Zuvor war er Group CFO bei Goldbach Group sowie der Steiner-Gruppe und hatte verschiedene nationale und internationale Positionen im Finanzbereich der Swissair-Gruppe inne. Er studierte Betriebswirtschaft an der Universität St. Gallen und erwarb ein AMP der Harvard Business School in Boston, USA
Markus Braun is a Lecturer in International Management at the ZHAW School of Management and Law. His research focuses on international management, crossborder mergers & acquisitions and business in emerging markets with a focus on China. He teaches in undergraduate and graduate education as well as executive management courses. Prior to joining ZHAW, he served as Head of Corporate Office at Diethelm Keller Holding AG in Zurich (Switzerland) from 2004 to 2013. Previously, he served as CFO and Deputy CEO of the Nuance Group in Zurich (Switzerland) and in international financial positions at Novartis / Ciba-Geigy in the US, Singapore and Switzerland. He is a member of the Board of Directors of the Psychiatric University Hospital Zurich and a member of the Advisory Board of the Center for Corporate Responsibility and Sustainability CCRS. Markus Braun studied Business Administration at the Universities of St. Gallen and Basel. He has a doctorate in Business Administration from the University of Basel. His publications include “Globalization and Digitalization” (2020), “Renminbi-Hub Switzerland: Disappointed Hopes?” (2019), “Banking Transactions in Switzerland and China” (2018) and “M & A: Success through Integration Management” (English edition 2018, German edition 2015).
Stefan Brunnschweiler is the global head of the CMS Corporate/M&A Practice Area Group. In this position, he sets the strategy for the group and leads an international team of more than 350 partners and 1000 lawyers. Stefan Brunnschweiler specialises in international and domestic M&A transactions, corporate restructurings, corporate law and general contract matters (e.g. joint ventures, partnerships and shareholders agreements). He is experienced in a broad range of national and international transactions, both sell- and buy-side (including corporate auction processes) as well as the assistance of clients in their ongoing corporate and commercial activities. Stefan Brunnschweiler has engaged in competition law, including merger control filings for more than 10 years.
Jean-Luc is Senior Vice President of Corporate Communications & Investor Relations, Head of Corporate Development and a member of the Operations Council. He is also member of the Board of HypoSwiss Private Bank and of the “Association pour le Développement des Compétences Bancaires” in Geneva, as well as a member of the Federal Accreditation Commission. He served as Board Member of the SIX Swiss Exchange, the “Chambre de commerce, d’industrie et des services de Genève” and “SwissHoldings”. Prior to joining SGS in 1998, he spent twenty years in International Corporate Finance at UBS, in Zürich, London and Frankfurt. He was Head of Fixed Income & Derivatives in Switzerland at UBS, previously having held the positions of Head of Capital Market Transactions & Risk Management and Vice President of Corporate Finance within the company. Jean-Luc studied Law at the University of Fribourg until 1978 and various programs at INSEAD, IMD and IBJ Tokyo.
Lic. oec., HSG University of St.Gallen (HSG), and Swiss certified accountant 1991-1995 Financial Auditor at Revisuisse PriceWaterhouse, Bern, and Head of Finance and Controlling at Amidro, Biel-Bienne. Joined the Galenica Group in 1996 as Corporate Controller; Deputy Head Retail Business sector from 2000; in addition, Head of the Amavita pharmacy chain from 2008; Head Retail Business sector from 2010 to 2015; member of the Corporate Executive Committee since 2010; from 2015 Head Strategic Projects. Since 2017 CFO and member of the Corporate Executive Committee of Galenica Group
Wolfgang Eckert is leading the M&A activities for the RUAG Group. Before he was the M&A Head EMEA for the largest Asian logistics company. Wolfgang Eckert has started his career in the Big 4, working in M&A, Valuation & Financial Modelling and Audit. He is a CFA Charterholder, Swiss Certified Accountant and graduated from the University of St. Gallen.
Dr. Dennis Froneberg is Head of North Europe responsible for AIG’s M&A Insurance Group focused on the German speaking region, Nordics and BeNeLux and is also heading AIG’s Cyber Risk division for the German speaking area. He has more than 10 years M&A experience, thereof 7 years in the Investment Banking Industry - Citigroup in London focusing on Industrial and Private Equity clients and Leonardo & Co. in Frankfurt and Madrid. Dennis graduated from University of Mannheim with a Master’s degree (focus on Risk Management and Corporate Finance), further he obtained a PhD degree in Finance from Technical University of Darmstadt.
Markus Häuser ist auf Rechtsfragen des Technologierechts spezialisiert, er berät sowohl internationale Unternehmen der Technologie- und Medienbranche als auch zahlreiche IT-Anwender, beispielsweise aus dem Finanz- und Versicherungssektor und dem Gesundheitswesen. Seine Expertise erstreckt sich besonders auf die Themen Digitale Geschäftsmodelle und Technologietransaktionen wie Outsourcing, IT-Projekte und komplexe Entwicklungskooperationen. Weitere Beratungsschwerpunkte liegen in den Bereichen Data Analytics, Cloud Services, Smart Data, Mobile Business und elektronische Bezahlsysteme. Regelmäßig wird Markus Häuser für Industrieunternehmen zu Rechtsfragen der Industrie 4.0, der M2M-Kommunikation und des IoT tätig.
Samuel Hügli ist seit 2017 Mitglied der Unternehmensleitung bei Tamedia und zuständig für den Bereich IT & Beteiligungen, der u.a. die Verantwortung für die Plattformen localsearch, Doodle, Zattoo, Starticket, Olmero sowie vier weitere Firmen umfasst. Samuel Hügli war zwischen 2000 und 2011 in verschiedenen Funktionen für Ringier tätig. Als Leiter Technik & Informatik, sowie später als Group CIO verantwortete er die IT des Medienhauses bevor er 2007 zum CFO der Ringier Gruppe ernannt wurde. Ab 2012 war Samuel Hügli als selbständiger Unternehmensberater für Unternehmen in der Schweiz und Südafrika tätig, zudem war er Mitglied verschiedener Verwaltungsräte. Der ausgebildete Typograph absolvierte verschiedene Managementausbildungen, u.a. an der ZFU, der St. Gallen Business School, der London Business School, sowie eine Strategic Business Management Ausbildung an der University of Cape Town in Südafrika.
Viktor Lir, born in 1979, is Head M&A at Axpo Power AG and has more than 10 years’ experience within the energy and utilities industry. He is heading the M&A department since 2015, where he is responsible for investments and divestment mainly within the renewable energy sector. He joined Axpo Group in 2009 and was principally in charge of commercial and financial structuring of infrastructure development projects or acquisitions and disposals. Prior to that Viktor Lir worked as an M&A consultant at FAA Financial Advisory AG, an M&A boutique focusing on utilities and infrastructure. He holds a Diploma Degree in Business Administration and Civil Engineering from the University of Darmstadt (TU Darmstadt).
Born in 1966, Adriano Margiotta holds a Master and a PhD in Law and a Master of Advanced Studies in Corporate Finance. He began his career in 1994 as assistant lecturer at the University of St. Gallen where his main fields of activities were company and corporate law during 4 years. From there, he went on to join a big law firm as junior associate where he worked mainly in M&A until 2001. In 2003, after the bar exam and admission to the bar, he dedicated himself to Investment Banking as legal advisor of UBS. From there, end of 2004 he moved to the Swiss Takeover Board where he worked in the field of takeover law and became head of the secretariat. In 2007 he went to Deutsche Bank (Switzerland) Ltd., took over the role as head of the legal department of the Zurich branch, and dedicated himself to banking law and law of financial markets. He left Deutsche Bank end of 2010 to join Valora Holding AG where he is General Counsel & Corporate Secretary and member of the Extended Group Executive Committee.
Rafic started his career as a Foreign Exchange and Precious Metals trader for a financial institution in Zurich. He then joined PricewaterhouseCoopers as a strategy and later M&A advisor based in Zurich, Geneva and London. He left as a Senior Manager to join Panalpina’s Corporate Development team in 2011. He was promoted as Head Corporate Development reporting to the Group CEO early 2013 and has been member of the Group Executive Committee since 1st January 2016. Rafic is responsible for Strategy, M&A and innovation.
Martin Naville is CEO of the Swiss-American Chamber of Commerce, a leading business association representing its 2000 business members (Swiss and American companies). Previously, Martin spent 16 years with The Boston Consulting Group (BCG) in Munich, Zurich and New York, of which 10 years as Partner and Director, and before that 4 years at JP Morgan in Zurich and New York in 1984.He holds a Master of Law from the University of Zurich. He is Chairman of Zoo Zürich and a director at Swissquote Bank.
Andreas Olloz studied economics and holds a Master degree of the University of Lausanne. He then worked three years for a trading company as a controller and project manager. 7 years ago, Andreas joined Coop as a project manager and since 2014, he serves as Head of Corporate Investment Management (Leiter Beteiligungsmanagement). Among other things Andreas was responsible for various acquisitions of the Coop Group (valuation, due diligence, contractual framework, negotiations, signing/closing, post-merger integration, etc.)
Dr Michael Petersen is co-founder and managing partner of Cross Equity Partners AG, a Swissprivate equity firm with the mission to support the sustainable development of mid-sized companies in Switzerland, Germany and Austria through equity capital, industrial expertise and an extensive relationship network – amongst others in the context of succession of family-owned businesses and corporate spin-offs. Before that, he was co-founder and managing partner of 3i Switzerland AG, a national affiliate of the international Private Equity group3i plc. Prior to his activities in these two Private Equity companies, Michael Petersen was working in the corporate finance/investment banking arena for several years, amongst others as member of the executive management of an international mergers & acquisitions company. He has degrees in business administration from the Universities of Hamburg and St.Gallen. He is married and has three children.
Rodolfo J. Savitzky was appointed as Lonza’s Chief Financial Officer and member of the Executive Committee in October 2016. He joined Lonza in 2015 as Vice President, Controller for Lonza’s Pharma&Biotech segment. Before joining Lonza he held various positions at Novartis Pharma and Consumer Health Divisions from 2002 to 2015. His last position at Novartis was Division CFO for Novartis Animal Health from 2011 to 2015. He also held positions of increasing responsibility at Procter & Gamble from 1990 to 2001. Rodolfo holds a degree in Industrial and Systems Engineering from the Monterrey Institute of Technology in Mexico and an MBA in Finance and Economics from the University of Chicago in the United States.
Wolfgang Schurr is born in 1975, married and father of 2 kids, Wolfgang started his career in 2000 with Accenture working as a Consultant in the FS industry managing porst-merger IT projects. From there he joined Credit Suisse and moved to Switzerland in 2007. He became globally responsible for the Identity and Access Management part. After 9 years he went on joining PWC and taking over the leadership of the IAM team.
Thomas Stöcklin, serves since 2011 as the Chief Financial Officer of the Calida Group. During his time with Calida three deals were closed, one of them was the acquisition of the French listed Lafuma Group which doubled the size of the Group to CHF 400 million of sales. Before joining the Group in 2005 he previously worked 8 years for two of the big four companies as an auditor. Thomas started his career at UBS where he worked including the Commercial Banking Apprenticeship for more than 12 years. He holds a Bachelor in Business Administration from the University of Applied Sciences and Arts, Lucerne and is Swiss Certified Public Accountant.
Christoph Sutter, born in 1973, is a Member of the Management Board at Axpo Power AG, responsible for M&A and renewable energy. Before joining Axpo, he was the CEO of South Pole Group, a company he co-founded in 2006 and that is globally active in the area of project development for climate protection projects. Prior to that he worked as a strategy consultant at McKinsey & Company in Zurich. He has done his PhD on the subject of sustainability assessment of energy projects at the Swiss Federal Institute of Technology in Zurich. Christoph Sutter was nominated as a Young Global Leader by the World Economic Forum and as Social Entrepreneur of the Year by the Schwab Foundation.
Since 2012 Felix Sutter is the head of Asia Desk at PwC Switzerland, being responsible to support clients, in and out of Asia. During his 5 years working experience in China, he served clients in the Insurance, E&M, Pharmaceutical, TICE, CIPS industries. From 2010 to 2012 Felix Sutter was located in Singapore, his focus was on serving multinational clients in their needs to operate in and out of Singapore. Since his return in Summer 2012 to Europe he advises numeorous clients on strategy, compliance matters in Asia and Europe, FTA related matters, business partner introductions, and cultural differences while investing in foreign markets.
Dr. Martin Frey gained 15 years of M&A and corporate finance experience with UBS Investment Bank and Lehman Brothers in New York, Chicago and Zurich before joining PwC in 2005. During his investment banking career, Martin gained extensive transaction expertise in M&A, debt and equity capital markets in mature and emerging markets. Martin`s current position is Head Corporate Finance / M&A at PwC Switzerland which the leading M&A advisory practice in the DACH region.
Roman heads the CMS Corporate/M&A practice in the Netherlands. He focuses on cross-border M&A, structured joint ventures and private equity transactions. Roman has extensive experience in the hotel and TMT industry.
Whether you are planning a transaction as part of your growth strategy, thinking about diversifying into new sectors or looking for new funding options such as non-bank lending or through equity investment, our experts offer you the right mix of legal and commercial advice.
Contact: Stefan Brunnschweiler
Tel.: +41 44 285 11 11
E-Mail: stefan.brunnschweiler@cms-vep.com
Website: www.cms-vep.com
PwC Switzerland is the leading audit and advisory company in Switzerland. At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 152 countries with nearly 328,000 people who are committed to delivering quality in assurance, advisory and tax and legal services. PwC Switzerland has over 3,480 employees and partners in 14 locations in Switzerland and one in the Principality of Liechtenstein.
Contact: Dr. Marco Tremonte
Tel.: +41 58 792 1532
E-Mail: marco.tremonte@pwc.ch
Website: www.pwc.ch
Die M&A REVIEW ist seit mehr als 30 Jahren das Fachmagazin rund um Mergers&Acquisitions im deutschsprachigen Raum sowie international. Monatlich finden die Leser der M&A REVIEW in der neuen Ausgabe die relevanten und aktuellen Analysen und Fachbeiträge zum Thema.
Contact: Carolin Reiter und Stefan Schneider
Tel.: +49 151 44822744
E-Mail: carolin.reiter@manda.com, stefan.schneider@ma-review.com
Website: www.ma-review.de
Die ZHAW School of Management and Law (SML) ist die schweizweit grösste Business School auf Stufe Fachhochschule und die einzige mit AACSB-Akkreditierung. Unsere international anerkannten Bachelor- und Masterstudiengänge sowie die zahlreichen Weiterbildungsangebote sind wissenschaftlich fundiert, interdisziplinär und praxisorientiert.
Contact: Dr. Markus Braun
Tel.: +41 58 934 74 33
E-Mail: markus.braun@zhaw.ch
Website: www.zhaw.ch/de/sml/
Mergers & Acquisitions 2017
Managing Future Success
28. September 2017, Park Hyatt Zürich
Xavier Rossinyol (CEO gategroup) gives a taste of his speech at the Finanz und Wirtschaft Forum «Mergers & Acquisitions 2017 – Managing Future Success» on 28 September in Zurich.
Interview with Heinz Kundert (CEO VAT Group)
Speaker at the Finanz und Wirtschaft Forum «Mergers & Acquisitions 2017».
«Overall very good conference touching on relevant emerging themes and trends in M&A with good networking opportunities.»
«Very relevant M&A topics. Excellent speakers. It was worth the time.»
«Very interesting an alive with speakers driving examples and latest trends in M&A making the event an opportunity to share views on different topics.»
«A very professional and high-level conference, worth to attend.»
«Nice takeaways from the presentations and well moderated panel discussions. Good opportunity to meet key persons personally.»