In short
Europe sourcing is add-on sourcing across the border. I start in DACH. If your thesis reaches further, a second run follows across the rest of Europe, with the same scope and the same checks.
- One client per mandate, in Europe too.
- Each country is mapped on its own, not extrapolated from DACH.
- Ownership and size are checked before a name reaches you.
- Outreach in German within DACH, in English across the rest of Europe.
When it fits
When the second run pays off
01
The investment case says Europe
The add-ons should cover Europe, not only Germany, Austria and Switzerland.
02
DACH is too small
There are only a handful of the right specialists here. Across Europe there are many more.
03
A new market should come in
Customers are already abroad. An add-on brings the site and the local team with it.
04
Engineering or production
An add-on in Eastern Europe, Portugal or Spain brings its own engineering or production.
What you get
What is on the table at the end of run 02
For each country you see which companies fit your platform's gap, not a list extrapolated from DACH.
Every company is checked for ownership and size. Anything already owned by an investor or a group never reaches you.
Each name comes with the gap it closes: country, service or customer group.
At the end there are owners who want to speak with you, not just contacts who were written to.
Same and different
What changes in Europe and what does not.
Schematic view. We agree at the start which countries go into run 02.
Exclusivity, scope and checks stay the same. What changes is the number of countries, the language and the lead time.
Process
From the gap to the conversation with the owner
- 01
Scope
The gap is defined and the countries for both runs are chosen.
- 02
Run 01 in DACH
The DACH market is mapped and every name is checked.
- 03
Run 02 across Europe
Each further country is mapped on its own, not extrapolated from a DACH list.
- 04
Alignment
Management has said what fits technically and which countries come first.
- 05
Outreach
The owners have been contacted personally, in German or English, before a process starts.
- 06
Follow-on
The scope stays active, because after the first add-on the next one comes.
Fit check
Does the second run fit your situation?
It fits if
- Your platform is in place and the add-ons should reach beyond DACH.
- Your platform sits outside DACH and wants to enter Germany, Austria or Switzerland.
- You can say why a country matters: customers, sales, engineering or production.
- You want to reach owners before a process starts.
Less so if
- You are still looking for the platform itself. Then we start with the search mandate.
- You want to write to all of Europe at once without a clear gap. I am not the right fit for that.
Questions
What investors ask about Europe
Why not all of Europe from the start?
In DACH I reach owners best, and the market comes together fastest there. The first run also shows how tight the scope really is. After that we know which countries are worth it.
My platform is not in DACH. Does this still fit?
Yes, often especially well. DACH is then usually the very market your platform wants to enter, and run 01 covers it. Your home market and its neighbours come in with run 02.
Which language do you use with owners abroad?
English, personally and with a concrete reason why I am writing to this particular company. Within DACH I write in German.
Which countries are in question?
The ones where your platform wants to grow. Often that is Benelux, the Nordics, the UK and Ireland, France, Italy and Iberia, or Central and Eastern Europe. We agree on this together at the start.
Is Europe sourcing a separate service?
It is a second run to add-on sourcing or to a search mandate. The scope comes from that mandate, Europe only widens the search area.
Who searches
Nick Herbig, personally
In the second run, too, I write to every owner myself. You speak directly with me at every step, whichever country the add-on is in.
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