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We meet owners in a range of situations.

Some want to pursue growth with a partner. Others are considering a partial or full exit. What they have in common is the need to make good decisions – at the right time.

FOR OWNERS

When is it right to consider a sale?

Selling or bringing in new owners is one of the most important decisions you will make as an owner. For many, it happens only once. It affects not only your personal finances, but also the company’s future development, employees and direction. As industry specialists, we support you throughout the entire process, with one objective: To secure the right solution – both strategically and financially.

A new owner or partner can take the company to the next level – and realise its potential more quickly than would be possible independently.

The company may have reached a point where further growth requires external capital, expertise and/or networks.

Realise value and reduce risk

For many owners, the company represents the majority of their wealth. A full or partial sale can release capital, reduce personal risk and, at the same time, provide an opportunity for continued value creation through reinvestment.

Maximise value over time

Many owners delay a sale in order to “optimise” the value. The contribution a new partner can make, the speed at which value can be developed further and the return on the capital realised are often underestimated. In many cases, the right partner can create greater overall value.

HOW DOES A SALE PROCESS WORK?

A good process is about structure, momentum and the right positioning.

Preparation

  • Preparation of a professional company presentation
  • Identification of relevant buyers and partners
  • Clear positioning of the investment opportunity in the market

Dialogue and negotiations

  • Establishment of dialogue with selected parties
  • Clarification of the strategic rationale and potential synergies
  • Collection of indicative offers
  • Negotiation of a letter of intent (LOI)

Completion

  • Establishment of a data room and management of questions
  • Due diligence and quality assurance
  • Negotiation of the final agreement
  • Completion of the transaction
HOW WE SUPPORT YOU AS AN ADVISER

We work closely with you as an owner throughout the entire process.

Our role is to ensure momentum, quality – and a sound basis for decision-making.

STRATEGIC ADVICE

We identify the available courses of action and assist you in selecting the right strategy – based on your objectives.

IDENTIFICATION OF THE RIGHT PARTNERS

Through our industry knowledge and network, we identify the buyers best placed to support the company’s continued development.

STRUCTURE AND PROCESS

We establish and lead a structured process that:

  • Creates competition
  • Ensures momentum
  • Provides control
OPERATIONAL RELIEF

We manage the entire process, allowing you to focus on day-to-day operations.

NEGOTIATION AND COMPLETION

We lead the negotiations and contribute experience and solutions that secure the best possible outcome.

EXPERTISE

Two industries. One specialisation.

Stratema works exclusively with Construction & Infrastructure and Technology. This gives us deep industry insight and a relevant network of investors and companies.

Great Clients

Insights for business owners

Here you will find articles and analyses that may be useful when considering a transaction.

FAQ

Frequently asked questions

  • For Construction & Civil Engineering and Technology companies, timing is often about selling when:

    • You can demonstrate growth and margins, not just potential
    • You can demonstrate scalability in Technology or repeatable delivery in
    • Construction & Infrastructure
    • The market has active buyers with capital

    For Construction & Infrastructure, timing is often linked to order intake, the project portfolio and margin improvements. For Technology, we often see companies being sold once they have established a clear market positioning for their product or service.

  • Even within these segments, the drivers differ:

    Construction & Infrastructure:

    • EBITDA and margins
    • Project execution and risk
    • Order book/backlog
    • Expertise and organisation

    Technology, SaaS, software and IT services:

    • ARR/recurring revenue
    • Growth and customer churn
    • Scalability
    • Differentiated technology or IP

    In both cases, the decisive factor is which buyer sees the greatest strategic value.

  • We typically see two main groups:

    Strategic buyers:
    Construction & Infrastructure: larger contractors and industrial companies
    Technology: scaling companies and software consolidators

    Financial investors, PE:
    Particularly active towards both Construction & Infrastructure and Technology companies with well-defined growth prospects

    In both segments, there is often global competition for the best investment opportunities – which can increase pricing significantly.

  • In both Construction & Infrastructure and Technology, it is about:

    • Identifying the right – not the largest – buyer universe
    • Tailoring the company profile to what buyers are actually looking for
    • Running a structured and parallel process

    The quality of the dialogue with buyers is often more important than the number of parties involved.

  • Thorough preparation is essential. More specifically:

    Construction & Infrastructure:

    • Well-organised financial statements, including at project level
    • Documented margins for each project
    • Well-defined contract structure and risk management

    Technology:

    • Strong key metrics, including ARR, customer churn and cohort analysis
    • Clear product strategy
    • Scalable organisation

    Poor preparation almost always leads to a lower price or a more demanding due diligence process.

  • Typically 5–9 months, although this often depends on:

    • Data quality
    • Project complexity within Construction & Infrastructure
    • Technical review, or tech due diligence

    Good preparation can significantly reduce both risk and the time required.

  • In both segments, reinvestment has become standard:

    • Construction & Infrastructure: often linked to continuity in management and project delivery
    • Technology: often important in securing continued growth

    This gives you, as an owner, the opportunity to realise a gain while retaining future upside.

  • Construction & Infrastructure

    • Underestimating project or contract risk
    • Weak profitability at project level
    • Unclear organisational structure

    Technology

    • Overly optimistic growth expectations
    • Insufficient documentation of key indicators
    • Excessive dependence on a small number of customers

    Common denominator: Buyers are highly skilled at identifying risk.

  • Companies must expect:

    • Significant data collection
    • Meetings with buyers
    • Active participation in due diligence

    At the same time, it is critical that operations are maintained without disruption throughout the process.

  • Based on market activity:

    Construction & Infrastructure

    • Solid margins and risk control
    • Professionalised project management
    • The ability to scale the organisation

    Technology

    • Profitable growth, not just growth
    • Niche expertise/vertical SaaS
    • Strong customer relationships and high switching costs
    • Customer churn
  • The market affects:

    • Access to capital, PE versus strategic buyers
    • Competition for investment opportunities
    • Multiples

    During periods of high activity and numerous buyers, competition can result in a significantly higher price.

  • Ideally 12–24 months in advance, particularly if you want to:

    • Improve margins in Construction & Infrastructure
    • Increase recurring revenue in Technology
    • Build a clear growth story

    Early preparation provides a significantly stronger negotiating position.

CONTACT

Let’s have a conversation.

We would be pleased to discuss your situation – whether it concerns a sale, acquisition or strategic considerations. Together, we can consider the opportunities, timing and next steps.