In our inside M&A series, we interview M&A leaders about their corporate M&A departments, how they organize their teams and deals, and what excites them about working in M&A at their company.
Who are you and what’s your current job title?
My name is Tobias Oeftering, and I am currently the Head of M&A, Portfolio Management, and Internationalization at JobRad Holding SE in Freiburg, Germany.
Tell us a bit about the team structure and competencies within the M&A / Corporate Development team?
Our current team consists of three members with diverse strengths and weaknesses that complement each other. Our competencies range from finance-based backgrounds to specialists in project management and research. We are well-positioned to handle challenges in M&A deals, day-to-day management of portfolio companies, and the search for new markets and targets that fit our group strategy.
How does the company approach M&A activity, and what is the criteria for evaluating potential acquisition targets?
Due to capacity restrictions, we are currently more reactive in our M&A activities. I would like to change this and be more proactive in searching for potential markets and targets. We use external partners for due diligence work, particularly with targets abroad, due to our team size. We handle crucial aspects like commercial and tech due diligence and the overall M&A process, working closely with group strategy, management, and advisory boards.
How does the company integrate and manage newly acquired companies and assets?
Our post-merger integration process depends on the company and the purpose we want to fulfill. We appreciate and acknowledge the work founders and management have done, and we do not push for a profitable exit like PE or VC firms. We invest to stay and support local entity management with group resources, know-how, and funds to enable standalone growth and integration into our group.
Can you tell us about a recent M&A transaction that the company has completed?
We recently invested in a mobility budget provider to broaden our base and enhance our portfolio and existing business offering. The deal involved a two-tier approach: first, purchasing a substantial share in the company, and second, increasing capital to gain majority control and provide necessary funds for business growth.
Which part of the M&A process excites you the most and why?
The part that excites me the most is working with the team to build trust with shareholders and management of the target company, leading to fruitful negotiations and smooth deal closures.
Working at Jobrad is great because…
We have direct access to and a trustful relationship with our board of management and advisory board, which is crucial for quickly getting things done.