Once you switch from the advisory to the corporate side of the M&A business, you usually never go back.
At least that’s the widespread opinion.
Jan Grabowski, recently appointed M&A Director at Emporion, shows us that there is another way.
After working in corporate and medium-sized companies, he is now drawn back to the dynamic world of consulting.
What drives such an industry expert to switch sides again?
We asked him once.
Jan, the places you have worked in your career so far almost sound like an adventure novel: Singapore, China, Korea, USA, St. Gallen, Frankfurt am Main and Hamburg.You recently joined Emporion, so you’re back on the consulting side. That sounds exciting – tell us more!
Yes, that’s true. Over the years, I have seen many impressive places in my work in the international M&A business and have come into contact with a wide variety of cultures and people. This is undoubtedly a great privilege that comes with the international M&A business. I’ve always been the curious type. It simply drives me to keep discovering new things, and not just from a geographical perspective. I find it particularly exciting to get to know and understand different cultures and perspectives in business. Speaking of business – how did you actually get into the M&A sector? After studying business administration in St. Gallen at the end of the 1990s, I started working in investment banking at Deutsche Bank. It was an exciting time, characterized by flourishing phenomena such as the Neuer Markt and new stock market segments where it seemed as if the trees were growing into the sky. For us young professionals, this offered excellent opportunities, as we were quickly involved in important projects. At Deutsche Bank, I then acquired the tools of my trade in the areas of capital markets and M&A. It was an intensive and instructive time, but it also involved working hours that you wouldn’t necessarily want to have all the time.
Hence the switch to the industrial side?
Not necessarily. In fact, the role of a banker is often more that of a consultant. After about ten years, it was interesting for me to experience the business from an industry perspective. The classic M&A consultant is often only involved in certain phases of the process. I therefore decided to accept a position as an internal M&A manager at a medium-sized specialty chemicals manufacturer – to move to the other side of the desk, so to speak.
It was extremely rewarding to experience M&A projects from the perspective of a company that wants to go into the future with the acquired company. This opened up a holistic perspective and set new accents in my approach.
This job then took you to Singapore?
As many of the business activities were managed via the Pacific Asia hub, my place of work and residence moved to Singapore. This was a very exciting side effect, as I was able to get to know and appreciate the city, country and people and also immerse myself in the Asian working world.
What were your tasks?
In addition to the traditional acquisition business, we were also negotiating joint ventures at this time, for example in China. This was very different from the usual M&A process and brought a fresh perspective.
In contrast to Singapore, which is often referred to as “Asia Light” due to its western orientation, China offered a sense of pioneering spirit at the time. There was still a special spirit of optimism at the time, which gave the whole thing a touch of adventure.
Nevertheless, you came back to Germany. Why?
During the financial crisis in 2009, the company slipped into insolvency. At the time, I had an attractive offer as an in-house M&A manager at Tesa AG in my home city of Hamburg, which is known for its ubiquitous Tesafilm. Here I was able to support the development and expansion of the division and coordinate and carry out takeovers. This role took me to the USA, Korea and numerous European countries, where we were able to realize a number of successful transactions.
After another stint at Klingel, a mail order company in southern Germany, you joined Emporion.
What prompted you to do this?
Due to the recent tense economic situation, the general conditions at Klingel have changed. I continue to be interested in takeovers by strategic buyers, as I find the complexity and strategic relevance of acquisitions particularly appealing. This was one of the reasons why I came into contact with Emporion. As a specialized consulting boutique that focuses on the buy-side and attaches great importance to strategic depth, I find the consulting approach very exciting.
“Through targeted M&A activities, we can bring about significant changes in the SME sector and advance or stabilize companies faster than would be possible with organic growth.”
So back to the roots?
In a way, yes. The early years of my career as an M&A consultant at Deutsche Bank were certainly formative for me in this respect.The consulting mentality is now practically anchored in my DNA. Another aspect is the versatility you experience as a consultant. You don’t just work in a single industry universe and ultimately carry out more transactions. In addition, acquisition – from the acquisition strategy to post-merger integration – is more demanding.
At Emporion, the focus on SMEs also reflects my personal ambitions: through targeted M&A activities, we can bring about significant changes in SMEs and advance or stabilize companies faster than would be possible with organic growth. Emporion certainly doesn’t fit the image of a traditional M&A consultancy, but it fits perfectly with what I have in mind.
And that would be?
Every M&A project should revolve around a triad of strategy, transaction and integration. These are answers to the key questions: What is important? What are the common stumbling blocks? What has to be right for an acquisition to be successful? During my time in industry, I was able to gather a lot of know-how and valuable expertise in this area.
However, experience shows that many consulting firms often neglect these aspects in the M&A process, as the process can be slow and diluted. Emporion takes a fundamentally different approach. We take the time to work on these issues.
You currently commute between your home in Hamburg and the Rhine-Neckar metropolitan region.
Isn’t that a particular challenge?
After we returned from Singapore, where I met my wife, by the way, we settled down as a young family in Hamburg, where we are still very happy today.There are now five of us with three children and we have built a house.
So I’ve been used to commuting for years. The travel times are perfectly feasible for me, especially by train. I don’t see it as a big burden – on the contrary: when the train is running, it’s very pleasant. I can relax or work and be very productive at the same time.
How do you like the Rhine-Neckar region?
I know southern Germany very well, especially Frankfurt, of course. The Rhine-Neckar region has a lot to offer: beautiful, interesting cities, lots of nature and a beautiful surrounding area. What’s more, the weather in the region is very favorable. I’m really looking forward to spending some time here away from work. Because there’s at least one thing that Hamburg doesn’t have to offer in direct comparison.
And what would that be?
Mountains! Mountain biking is a passion of mine that I discovered during my studies in St. Gallen. Even during my time in Frankfurt, I was often drawn to the Taunus. Now, when I look out of the window of our office in Lampertheim and see the Odenwald and the Bergstrasse, I’m already looking forward to biking in these areas soon.