Mergers and Acquisitions

On average from 2005 to 2017, slightly more than 1,100 M&As targeting a German SME were conducted each year. Investors were particularly interested in manufacturing SMEs (34 %) and information and communication technology enterprises (19 %). So far, domestic acquirers have dominated (average share in 2005–2017: 58 %). Since 2013, however, activities of foreign investors have picked up. These tend to be more interested in manufacturing SMEs than their German counterparts.

M&A deals in the German SME sector – manufacturers are most sought after(PDF, 361 KB, non-accessible)

Averaging 2.2 % in the period from 2005 to 2017, the share of Chinese acquirers of small and medium-sized enterprises (SMEs) in Germany has been modest but has shown signs of growth since 2010. In 2017 the share of Chinese investors was around 4.2 %. Until 2010, Chinese investments in SMEs were focused predominantly on the manufacturing sector (share of 73 %). More sectoral diversification has, however, been witnessed since 2011. Our analysis also shows: Chinese acquirers tend to be strategic investors rather than financial investors. The acquirer was a manufacturing company in more than two out of three M&A deals.

More Chinese M&A deals in the German SME sector – but the share remains negligible(PDF, 752 KB, non-accessible)