Sell-side Advisory
End-to-end support for owners and boards — from positioning and buyer mapping to negotiation and closing.
Cross-border M&A · ITA ⇄ GER
An independent advisory boutique for small-cap transactions between Italian and German companies.
Who we are
Cambio Capital is a senior-led M&A advisory built around a single conviction: deals between Italy and Germany deserve advisors who live in both worlds — language, business culture, and capital markets.
We work exclusively on small-cap mandates where partner attention, discretion, and cross-border execution decide the outcome.
What we do
End-to-end support for owners and boards — from positioning and buyer mapping to negotiation and closing.
Targeted origination and execution for strategic acquirers and PE funds expanding across the Alps.
Joint ventures, minority investments, succession planning, and capital structure reviews.
Our edge
Germany and Italy are each other's most important manufacturing partners — and yet cross-border M&A is consistently underserved by generalist banks.
Sector focus
Specialty manufacturing, automation, components — the spine of both economies.
Premium consumer, food & beverage, fashion, design-led products.
B2B SaaS, industrial software, digital platforms with cross-border footprint.
Renewables, efficiency, electrification, climate-tech infrastructure.
Specialty B2B services, testing & certification, technical distribution.
Our approach
Positioning, equity story, structuring options.
IM, financial model, data room, perimeter design.
Curated buyer/target lists, bilingual approach.
Bid management, term sheets, SPA negotiation.
DD coordination, regulatory, signing & completion.
The partners
Founding Partner
Italian and German national. Former investment banker; runs his family's family office and advises US private equity funds on hydropower investments in Italy.
Founding Partner
German lawyer, active in Italy for more than twenty years. Advises Italian companies and business associations on their operations in Germany.
Founding Partner
German M&A lawyer, formerly Latham & Watkins and McDermott Will & Emery. Founded and sold a German industrial company; serves on supervisory and advisory boards.
Track record
Selected transactions and mandates of the partners, including experience prior to the founding of Cambio Capital.
As lead counsel and adviser before Cambio Capital, 2011–2026.
Share deal, mid double-digit €m EV; seller rollover, W&I insurance, long-term site leases. Sell-side lead counsel.
Lead counsel on several financing rounds; former supervisory board member and investor.
Advising a co-founder through financing rounds and the sale to Porsche.
Advising the majority shareholders on financing rounds and the cross-border sale.
≈ €100m transaction value; sell-side, advising the shareholders from SPA to closing.
Advising several investors on the SPA and closing.
Buy-side for a German single family office: process, asset purchase agreements, due diligence.
For a Luxembourg-based seller, with rollover into the PE-backed buyer. Sell-side.
Transactions, investments and operating leadership, 2005–2026.
Operational leadership; organising worldwide supply chains for radioactive isotopes.
Ownership, operation, acquisition advisory and brokerage; total investment volume of more than €350m.
Responsible for numerous corporate and real estate investments of the family.
Specialist in encrypted mobile communications; sale to a strategic acquirer.
Development and placement of closed-end investment structures.
Sale to a strategic acquirer in the logistics sector.
Sale to a DAX-listed strategic acquirer.
German counsel to Italian companies and banks, 2008–2026.
Legal advice in connection with the sale of the German Westhouse Group. Transaction support on the sell-side.
Advising a major Italian restaurant group on its search for a German acquisition target. Legal due diligence covering corporate and employment law; introduction of a German partner for target scouting.
Advising Italian corporate clients on numerous share deals involving German SMEs, in particular German subsidiaries and distribution companies of international groups.
Supporting UniCredit Milan’s German Desk in identifying and approaching potential German acquirers for Italian companies, including several sizeable and well-known Italian businesses.
Why Cambio Capital
The partners you meet are the partners who run your process.
Negotiation, documentation, and culture — handled natively in both markets.
No conflicts, no captive lending. Advice that serves the mandate.
Two of three partners are transaction lawyers. We read an SPA the way the other side's counsel does — and negotiate accordingly.
We're happy to discuss specific situations under NDA — sell-side mandates, target screens, or strategic options across the DE/IT corridor.
Write to us