34
BASIS OF PREPARATION
✓ The survey was conducted between October 2022 and the end of April 2023
✓ The majority of survey participants (69%) are in executive positions and in the areas
of management, M&A, strategy and corporate law
✓ The vast majority of survey participants (86%) represent corporations and companies
from the automotive (manufacturers and suppliers), mechanical engineering, TMT,
power generation, chemical industry, retail and consumer goods sectors.
✓ Most of the companies and organizations are active in up to twenty countries (43%),
in more than twenty countries (22%) and in more than 60 countries.
✓ Financial investors with a particular focus on carve-out situations account for 14% of
participants
✓ The large majority of survey participants are based in Germany (82%), with the
remaining proportion split between Switzerland and Austria.
✓ When asked about their experience with carve-out transactions, 46% of participants
said they had been involved in up to three transactions
✓ Another 31% of the participants have been involved in four to nine transactions, and a
total of 19% of the participants reported having worked on at least ten transactions
✓ The percentages reported in the survey reflect multiple possible responses per
question