DC Advisory acted as exclusive financial advisor to GEP III Fonds managed by Equity Capital Management GmbH (“ECM”) on the sale of its portfolio company Maredo Group (“Maredo”), the leading German steakhouse restaurant chain, to funds advised by Perusa GmbH (“Perusa”).
Since its foundation in 1973 Maredo has developed into one of the leading German steakhouse restaurant chains with nowadays 46 restaurants and approximately 1,500 employees. In recent years, the Maredo concept has been modernized and the brand re-focused on its traditional core product – steak.
Together with the management team, which is leading the modernization process since 2014, Perusa aims to roll-out the new concept across Germany to realize further growth in the attractive steakhouse segment.
Carsten Schemmel, Partner at ECM, commented: “In the past years the brand Maredo was modernized and the profile of Maredo was considerably refined. The new flagship restaurant at the Berliner Gendarmenmarkt, with continuously strong growth rates, is the prime example and serves as a blueprint for the upcoming advancement of the business concept at hand. Hence, Maredo is ideally positioned to unlock the underlying growth potential with Perusa as its new owner.”
Moritz von Bodman, Managing Director at DC Advisory, added: “Out of home dining is growing at significant rates in Germany. Maredo – as mono concept with focus on steak – will continue to benefit from this growth”.
ECM is an independent private equity firm headquartered in Frankfurt am Main. ECM is the manager and respective advisor of the equity funds German Equity Partners I-IV with an aggregated equity volume of € 685 million. The investment focus is on established companies in German Mittelstand.
Perusa is an independent private equity firm, headquartered in Munich, that invests through currently two funds into midmarket companies in German speaking and Nordic markets. Perusa follows an operative approach to enhance performance and growth of the underlying portfolio companies.
DC Advisory acted as exclusive M&A and Debt advisor to ECM on the sale of Maredo. Within a few months, a dual track process with simultaneous refinancing negotiations, successfully concluded with the sale of the company.