Logo
Architecture

Team

We offer professional advice in the fields of financial strategy and capital markets issues. We customize our advice in a very confidential way and it focused to company owners, founders and management teams.

BLAETTCHEN FINANCIAL ADVISORY was founded in summer 2010. Prior our Team worked together at the advisory company Blaettchen & Partner AG for many years. Therefore we have an unique capital market advisory experience in IPOs, bond issues and implementation of management equity programs with more than 50 transactions and several billions EUR issue volume over three decades.

Our Company is completely owned by its active partners and is not a part of a financial institution. Hence, we are fully independent and not exposed to any conflicts of interest.

We appreciate the high level of trust our clients have in us.

Wolfgang Blättchen

Prof. Dr. Wolfgang Blättchen

Managing Director and Partner

×

Prof. Dr. Wolfgang Blättchen is founder and Managing Partner of BLAETTCHEN FINANCIAL ADVISORY GmbH. Prior he was Managing Director and founder of the advisory company Blaettchen & Partner. He started in 1985 and has a unique track record as independent capital markets advisor. In this period he advised many successful IPOs and IBOs from German and foreign issuers, complex capital market transactions (SPO's, public takeovers, squeeze outs) and numerous Management Equity Program implementations.

Wolfgang Blättchen is a member of the “Issuer Markets Advisory Committee” of Deutsche Boerse AG, long-time member of the DVFA and temporarily member of its Advisory Board.

Wolfgang Blättchen is also a member in Supervisory Boards in public and privately held companies: AIXTRON SE (deputy Chairman and Chairman of the Audit Committee) and PFISTERER Holding AG (Chairman). He is a non-obligatory Advisory Board member of SÜDVERS.

He was from 2002 - 2010  Professor at the Faculty I - Taxation, Accounting and Auditing of the SRH University of Applied Sciences of Calw, Germany, from 2005 - 2010 Assistant Dean of the Faculty and from 2012 - 2017 he was Deputy Chairman of the Alumni Association SRH Hochschule Calw e.V. Since 2011 he is Co-Editor of FuS-Familienunternehmen und Strategie and has published various articles and books about stock market, IPOs, takeovers of listed companies an Corporate Governance.

Stephan Mahn

Dr. Stephan Mahn
 

Managing Director and Partner

×

Dr. Stephan Mahn is Co-founder and co-owner of Blättchen Financial Advisory GmbH. Advises medium-sized enterprises in their IPO preparations, equity financings, individual capital market strategies and management equity programs since 1991. He was a board member of Blättchen & Partner AG until June 2010. He has managed numerous projects in various industries and situations and published articles in the fields of capital markets and management participation programs. He has studied Business Administration in Germany and in the USA and received a doctor´s degree from Handelshochschule Leipzig (HHL).

Uwe Nespethal

Uwe Nespethal
 

Co-owner and Partner

×

Uwe Nespethal is partner of BLEATTCHEN FINANCIAL ADVISORY GmbH since its foundation in 2010. From 1998 until mid of 2010 he worked for Blaettchen & Partner AG as a capital markets professional and project manager. From this time onwards he advised numerous capital market transactions and financial strategy projects.

Uwe Nespethal graduated in industrial engineering from Brandenburg Technical University of Cottbus and received a degree as an international financial analyst CEFA/CIIA.

He has published various articles about capital market issues.

Pia Schöffler

Pia Schöffler
 

Team assistant

Services

Equity

We support clients (companies and manager) as independent advisor on all issues of equity offering or other equity-related transactions:

- Initial Public Offerings

- Private Equity Financing

- Mezzanine

- Warrants and convertibles

- Follow on Equity Offerings (new shares, existing shares, with and without subscription rights)

The intention to go public is in general a once in a lifetime highlight for the issuer, the companies´ owners and the founders and has to be prepared and supported carefully.

Our core competences are focused on the development of individual capital market strategies for different financing instruments. This process starts from the initial decision to go public, embraces all necessary steps to achieve the IPO readiness, leads to the selection of suitable project partners ("beauty contest") and includes the whole project management. We manage the upcoming conflicts of interest between company owners, financial sponsors, underwriters and the involved advisors.

We support our clients to structure and manage a "dual track transaction", that means a complex process in which the shareholders pursue an IPO and a trade sale option simultaneously.

We assist companies in the offering of non listed equity financing instruments such as mezzanine, Pre-IPO private equity finance, warrants and convertibles.

Furthermore we are the sounding board for the stock exchanges concerning design and implementation of new capital market services for issuers and investors.

References:

Aixtron - Bertrandt - Hugo Boss - B.R.A.I.N. - Carl Zeiss Meditec - Centrotherm - Datagroup - DocMorris - Gardena - Halloren - Homag Group - Hymer - Hypoport - Interhyp - icubic - Jill Sander - Mage Solar - Magix - Meyer Burger - MobilCom - Mologen - Muelhan - PAION - PNE WIND - Rational - Rolf Benz - R. Stahl - Schott Solar - Thyssen Krupp - U.S.U. - visionapp

 

Management Participation and Incentives

We support our clients to design and implement a "management equity program" (MEP) in a typical LBO transaction. The participants of this program have usually potential to invest a significant amount. Therefore a balanced risk profile and fair conditions for the MEP are essential to reach the long term goals. The upcoming conflicts of interest between the involved parties will be moderated and managed by us.

We also help to develop a "state of the art" equity participation and incentive program for employees and managers ("Employee Stock Option Plans" or ESOP) before or after an IPO. Particularly fast growing Tech companies have strong empathies to share the future value creation in an early stage of the company lifetime. Such designed incentive program must be open for the future "exit event" and may not hinder it. This applies in particular to the IPO. Hence, we support clients to restructure existing equity participations programs in a recapitalization situation.

References:

Apcoa - Biontec - Debitel - Demag Cranes - Evonik - Gardena - Gerresheimer - Hugo Boss - Takko - Thyssen Krupp - Magix - Media Broadcast - Schleich - Stabilus - visionapp

 

Long Term Debt

We are proud to support the mayor German stock exchanges to design and to implement the innovative market places for listed corporate bonds. We were nominated bondm-FOUNDATION-COACH at the Boerse Stuttgart and are DEUTSCHE BOERSE CAPITAL MARKET PARTNER at the Frankfurt Stock Exchange.

In the first step we support you to find the fundamental decision to issue a capital market instrument as a corporate bond or alternative instruments (notes, private placements).

Our key point of analysis is the capital market capability of our clients, which will be necessary for a bond issue.

As independent advisor we assist our clients to issue a corporate bond. The issue concept can include an "issuer controlled offering" in consideration of several distribution channels. The alternative concept can be a "bank controlled" issue, where the mandated investment bank underwrites and sells the bond by means of a syndicate. We support the client to develop the suitable issue concept, select the professional partners (banks, selling agents) via a "beauty contest" and bring the issuer together with potential investors and intermediaries and negotiate the optimal conditions.

Furthermore we assist our clients to execute a "dual track process", in which both a bond issue and alternative refinancing options (credit facility, notes etc.) are simultaneously followed.

References:

Albert Reiff - Boerse Stuttgart - Cloud 7 - Deutsche Boerse - Duerr - PNE WIND - Rena - Senivita Social Estate - Senivita Sozial

 

Leistungen

Partnerships

We are DEUTSCHE BOERSE CAPITAL MARKET PARTNER in following fields of activities and segments:

- IPO- and Corporate Finance Advice

- Scale for shares

- Scale for corporate bonds

- Prime Standard for corporate bonds

 

News

07/2018

Capital market access as a chance - strategic options for your company on the occasion of the 15th Mittelstandsforum Baden-Wuerttemberg in Stuttgart on the 19th July 2018 (program only available in German)

01/2018

BLAETTCHEN FINANCIAL ADVISORY supported BIONTECH AG to design and to implement a capital market relatet Employee Participation Program and supported the management board in this context to prepare an Pre-IPO Financing Round (Series A) in a volume of 270 Mio USD.

11/2017

WM WORKSHOP - IPOs Initial Public Offerings, 2017 November 09 in Munich  (siehe Flyer)

09/2017

RSW Vortragsreihe University Hohenheim, 2017 September 06. in Stuttgart (see Flyer)

03/2017

BLÄTTCHENFINANCIAL ADVISORY supported CARL ZEISS MEDITEC AG to complete its capital increase without subscripiton rights (up to 10% of its share capital) in a total proceeds of approx. 317 m€ (see Flyer)

01/2017

BLAETTCHEN FINANCIAL ADVISORY supported MOLOGEN AG to complete its convertible bond placement as part of a prospectus-exempt public rights offering in a total volume of about 5.0 m€

11/2106

WP Board Academy "Rechte und Pflichten des Aufsichtsrats", 2016, November 29. in Frankfurt (see Flyer)

10/2016

BLAETTCHEN FINANCIAL ADVISORY supported MOLOGEN AG to complete its capital increase with subscription rights and a follow-up convertible bond issue in a total volume of 16,1 m€

07/2016

Finance Technology Transactions, July 21. in Munic (see Flyer)

03/2016

Germany M&A and Private Equity Forum 2016, March 16. and 17. in Düsseldorf (see Flyer)

02/2016

BLAETTCHEN FINANCIAL ADVISORY supported the IPO of the B.R.A.I.N. AG with a total issue volume (incl. over-allotments) of 32.5 m Euro in the Prime Standard of the Frankfurt Stock Exchange. B.R.A.I.N. AG is one of Euorpe's leading technology companies in the field of indsutrial or "white" biotechnology, the core discipline of the bioeconomy and is the first listed German issuer in this sector at the Frankfurt Stock Exchange

11/2015

WM-WORKSHOP - IPOs und IBOs - November 2015 in Munich (see Flyer)

05/2015

BLAETTCHEN FINANCIAL ADVISORY supported SeniVita Social Estate AG to issue a Going Public convertible note in a volume of up to 50 Mio. € listed in the Quotation Board (Open Market) of the Frankfurt Stock Exchange

11/2014

WM-WORKSHOP - IPOs and IBOs - 12 November 2014 in Munich (see Flyer)

10/2014

BLAETTCHEN FINANCIAL ADVISORY supported PNE WIND AG to complete its combined capital increase with subscription rights and a convertible bond issue in a total volume of 40,0 m€ 

07/2014

BLAETTCHEN FIANCIAL ADVISORY has advised PAION AG – a listed (Prime Standard / FSE) biotech company – to complete its capital increase with subscription rights in a volume of 46,3 m€

05/2014

BLAETTCHEN FINANCIAL ADVISORY supported SeniVita Sozial gGmbH to issue a participatory notes in a volume of up to 25 Mio. € listed in the Quotation Board (Open Market) of the Frankfurt Stock Exchange

02/2014

Workshop "Immobilien- und Projektanleihen als Finanzierungsmöglichkeit" on 27 February 2014 in Berlin (see Flyer)

01/2014

BLAETTCHEN FIANCIAL ADVISORY has advised PAION AG on its capital increase with subscription rights

11/2013

M&A Forum Stuttgart "Unternehmensfinanzierung im Kontext von M&A-Transaktionen" on 21 November 2013 in Stuttgart (see Flyer)

11/2013

Workshop "MBO und MBI - Vom Manager zum Unternehmer" on 06 November 2013 in Frankfurt/Main  (see Flyer)

09/2013

BLAETTCHEN FINANCIAL ADVISORY supported PNE WIND AG to issue a second tranche of its 8.0% corporate bond 2013/2018 (WKN: A1R074) in a volume of 33.7 Mio. € within a private placement. With the reached total bond volume of 100.0 m€ the bonds are to be included in the Prime Standard segment for company bonds on September 19, 2013.

09/2013

Workshop "Immobilien- und Projektanleihen" on 30 September 2013 in Stuttgart (see Flyer

03/2013

 Workshop "Finanzierung über den Kapitalmarkt" on 24 September 2013 in Stuttgart (see Flyer)

07/2013

BLAETTCHEN FINANCIAL ADVISORY GmbH supported Cloud No. 7 GmbH to issue a senior secured bond of up to € 35 Mio. at bondm of the boerse stuttgart 

05/2013

BLAETTCHEN FINANCIAL ADVISORY supported PNE WIND AG to issue a senior bond of up to € 100 Mio. in the regulated market of the DEUTSCHE BOERSE AG and the intended admission in the Prime Standard for Corporate Bonds

06/2011

BLAETTCHEN FINANCIAL ADVISORY GmbH was appointed as DEUTSCHE BOERSE LISTING PARTNER

05/2011

BLAETTCHEN FINANCIAL ADVISORY GmbH supported ALBERT REIFF GMBH & CO. KG to issue a senior bond of up to € 30 Mio. at bondm of the boerse stuttgart

12/2010

BLAETTCHEN FINANCIAL ADVISORY supported RENA GmbH to issue a senior bond of up to € 75 Mio. at bondm of the boerse stuttgart

11/2011

BLAETTCHEN FINANCIAL ADVISORY GmbH was appointed as BONDM-FOUNDING-COACH of boerse stuttgart

09/2018

Renaissance des Kapitalmarkts in FuS 04/2018 (in German)

05/2018

GP Special GP Kapitalmarktrecht 2018_Der Börsengang ist wieder eine Alternative (in German)

03/2018

Capital market review 2017 (in German)

06/2017

Wer finanziert den digitalen Umbruch? - in FuS 03/23017 (in German)

04/2017

20 Jahre Neuer Markt: Verdrängtes Trauma oder vernachlässigte Chancen? (in German) - VentureCapital Magazin 05/2017

04/2017

Auf der Suche nach neuen Wegen - in Unternehmer-Edition, April 2017 (in German)

04/2017

Neuer Markt: 20 Jahre danach - im Going Public Magazin 04/2017 (in German)

01/2017

Capital market review 2016 (in German)

11/2016

Teil II: Sind die Ratings der Mittelstandsanleihen aussagefähig? Kredit & Rating Praxis 5/2016

10/2016

"Es muss möglich sein, Technologie-Startups zu Industrieunternehmen zu entwickeln" (in German) -Interview Dr. Holger Zinke in der Fus 05/2016

09/2016

Teil I: Sind die Ratings der Mittelstandsanleihen aussagefähig? Kredit & Rating Praxis 4/2016

06/2016

Der Börsengang der BRAIN AG - FUS I 03/2016

04/2016

BRAIN-IPO bindet die Retail-Anleger ein - Qurtalsmagazin BRAIN AG 2. Q 2016

04/2016

Die Produktpipiline muss lukrative Märkte mit Blockbuster-Potenzial adressieren - VentureCapital Magazin 04/2016

03/2016

Corporate Bond Markt 2015 - in BondGuide-Special "Anleihen 2016" (in German)

02/2016

Brain-IPO bindet die Retail-Anleger ein - published in Börsenzeitung 09.02.2016 (in German)

01/2016

Capital market review 2015 (in German)

10/2015

Kapitalmarktfinanzierung und Familienunternehmen - in FuS 5/2015

06/2015

Börsenkapital für Wachstumsunternehmen: eine Langfristbetrachtung, Venture Capital Magazin 07/2015

04/2015

IPO lernen - Corporate Finance & Praivte Equity Guide, Going Public

02/2015

Der Corporate Bond Martk 2014 - BondGuide-Special "Anleihen 2015"

01/2015

Capital market review 2014 (in German)

11/2014

"Die Wandelanleihe verbindet zwei Welten" in Going Public 12/2014

08/2014

"Aktuelle Entwicklungen in der Kapitalmarktfinanzierung von Familienunternehmen" from Prof. Dr. Wolfgang Blättchen / Uwe Nespethal in Familienunternehmen und Stiftung (FuS) 04/2014

07/2014

"Der deutsche IPO Markt kann sich aus seiner Lethargie befreien" in Börsen-Zeitung Special

06/2014

 Der Genussschein - ein börsentaugliches Finanzierungsinstrument

04/2014

Blockierter Zugang - Mittelstandsfinanzierung 2014

04/2014

Best Practice Guide: Entry Standard für Unternehmensanleihen - Deutsche Börse Cash Market

03/2014

Standards for Bondcommunication - DVFA 03/2014

03/2014

Kapitalmarkt-Sentiment 2014 - Expertinterview in GoingPublic Magazin

02/2014

"Der Corporate-Bond-Markt 2013 - Unterschiedliche Entwicklungen in den Segmenten" (in German)

from Uwe Nespethal / Prof. Dr. Wolfgang Blättchen in BondGuide Special "Anleihen 2014"

01/2014

Capital market review 2013 (in German)

"Neue Facetten der Kapitalmarktfinanzierung für Familienunternehmen"

from Prof. Dr. Wolfgang Blättchen / Uwe Nespethal in Familienunternehmen und Stiftung 05/2013

05/2013

"IPO UND IBO: EIN GOING PUBLIC HAT UNTERSCHIEDLICHE FACETTEN BEKOMMEN"

from Prof. Dr. Wolfgang Blättchen / Uwe Nespethal in Going Public Special "Kapitalmarktrecht 2013" 

03/2013

"DER MANAGER IM VERKAUFSPROZESS"

from Prof. Dr. Wolfgang Blättchen / Dr. Stephan Mahn in Boardreport 01/2013

03/2013

"WICHTIGER PFEILER DER FINANZIERUNG - DER COPORATE BOND MARKT - EIN ÜBERBLICK"

from Prof. Dr. Wolfgang Blättchen / Uwe Nespethal in Going Public Special "Anleihen 2013" 

08/2012

 "PRIME STANDARD FÜR UNTERNEHMENSANLEIHEN: EIN BÖRSENSEGMENT FÜR INSTITUTIONELLE ANLEIHEEMITTENTEN MIT PRIVATANLEGERBEZUG"

from Prof. Dr. Wolfgang Blättchen / Uwe Nespethal in Familienunternehmen und Stiftung (FuS) 04/2012

02/2012

"HOME RUN - DIE POTENZIELLE ZIELGRUPPE FÜR DEN PRIME STANDARD FÜR UNTERNEHMENSANLEIHEN"

from Uwe Nespethal / Prof. Dr. Wolfgang Blättchen in Going Public Special "Anleihen 2012"

02/2012

"EINE ANLEIHE IST MITUNTER SOGAR EIN MUSS FÜR EIN BUY-OUT"

Interview with Prof. Dr. Wolfgang Blättchen and Alexander von Preysing in Going Public Special "Anleihen 2012" 

11/2011

"MITTELSTANDSANLEIHE - RICHTIG EINGESETZT"

from Prof. Dr. Wolfgang Blättchen / Uwe Nespethal in informer release 11-2011

10/2011

"AKTUELLE PROBLEME UND LÖSUNGSANSÄTZE BE DER FINANZIERUNG VON FAMILIENUNTERNEHMEN"

from Prof. Dr. Wolfgang Blättchen / Uwe Nespethal in Familienunternehmen und Stiftungen (FuS) 03/2011

07/2011

"DIE IDEE DER MITTELSTANDSANLEIHE WIRD ERWACHSEN!"

from Prof. Dr. Wolfgang Blättchen in BondGuide - Der Newsletter für Unternehmensanleihen Ausgabe 5, KW 28/29 2011 

05/2011

"UNTERNEHMENSANLEIHEN ALS ATTRAKTIVES MITTELSTAND-FINANZIERUNGSINSTRUMENT"

from Prof. Dr. Wolfgang Blättchen and Dr. Stephan Mahn in Börsen-Zeitung 

03/2011

"NEUER ZUGANG ZUM KAPITALMARKT - 2010 WAR DAS JAHR DER BÖRSENNOTIERTEN MITTELSTANDSANLEIHEN"

from Prof. Dr. Wolfgang Blättchen in Corporate Finance & Private 28 Equity Guide 2011 

02/2011

"INTERESSANTE KAPITALMARKTALTERNATIVE"

from Prof. Dr. Wolfgang Blättchen / Uwe Nespethal published in Going Public Magazin Special "Anleihen 2011" März 2011

12/2010

"ANLEIHEEMISSION MITTELSTÄNDISCHER UNTERNEHMEN"

from Prof. Dr. Wolfgang Blättchen / Uwe Nespethal in Corporate Finance 8/10

11/2010

"DER STUTTGARTER BONDM"

from Prof. Dr. Wolfgang Blättchen in Deutschen Aktieninstitut Finanzplatz 

11/2010

"DIE RAHMENBEDINGUNGEN AUSSERHALB DER BÖRSENVERFASSUNG SIND SCHWIERIGER"

Sentiment surveys under IPO-Experts in Venture Capital Magazin 11/10 

09/2010

"BOND-EIGENEMISSIONEN SIND MÖGLICH"

from Prof. Dr. Wolfgang Blättchen in Börsen-Zeitung 

08/2010

BONDM - "MISSING LINK" FÜR MITTELSTÄNDISCHE ANLEIHEEMITTENTEN

from Prof. Dr. Wolfgang Blättchen in Going Public Magazin 07/10

07/2010

KOLUMNE - "EINE LÜCKE, DIE ES ZU SCHLIESSEN GILT"

from Prof. Dr. Wolfgang Blättchen / Uwe Nepethal in Going Public Magazin 6/10

There are currently no vacancies available.

Contact

BLAETTCHEN FINANCIAL ADVISORY GmbH

Roemerstrasse 109
71229 Leonberg

BOX: 1338 - 71203 Leonberg - Germany
MAIL: info(at)blaettchen-fa.de

FON: +49 (0) 7152 6101940

Data Privacy Statement

Data Privacy

The protection of your personal data is of major importance to the operator of this website. We shall treat your personally identifiable data confidentially and in keeping with legal data privacy regulations and the present Data Privacy Statement. As a rule, the use of our website does not require your disclosing any personally identifiable data. To the extent it is necessary to enter any personally identifiable date on our website (e.g. name, postal address or e-mail address) such compilation will, when possible, be on a voluntary basis. The data so compiled will not be transmitted to any third party without your express consent.
We should like to note that Internet-based data transmission (e.g. e-mail communication) may be susceptible to security gaps. It is thus not possible to ensure end-to-end data protection against third-party access.

Cookies

Some of our Internet pages use so-called cookies. Cookies do not damage your computer in any way and do not contain any viruses. Cookies have for their purpose to render our offer more user-friendly, more effective and securer. Cookies are small text files placed on your computer and stored by your browser.
Most of the cookies we use are so-called 'session cookies', meaning that they will be deleted automatically after your visit to our website. Other cookies remain stored on your end device until you delete them. With such cookies we are able to recognise your browser once you re-visit our website.
You can modify your browser preferences such that you are informed promptly before a cookie is stored on your end device to allow storage of cookies in individual cases only, accept cookies in specific cases, or permanently block cookies, and automatically delete cookies once you close your browser. However, deactivating cookies on your end device may restrict your use of the functionalities of our website.

Server-Log-Files

The provider of this website automatically compiles and stores information in so-called server log files your browser automatically sends to us. Such information includes:

  • Browser type and browser version
  • Installed operating system
  • Referrer URL
  • Hostname of accessing computer
  • Time of server request
Those data are not attributable to any specific person. The data so collected is not merged with other data sources. We reserve the right to subsequently verify such data, should we obtain knowledge of any specific grounds indicating any unlawful use.

Google Maps

Our website uses Google Maps to depict maps and generate driving directions. Google Maps is operated by Google Inc., 1600 Amphitheatre Parkway, Mountain View, CA 94043, USA. When visiting our website, Google collects the information about your viewing relevant pages on our website. Such data is also collected whether or not you have a user account with Google or are logged in to your Google user account. In the event you are logged in to your Google user account and visit our website, collected data will be allocated to your Google user account directly. Should you not wish such data collection, you are advised to log out of your Google account prior to visiting our website. By using Google Maps, you agree to Google's or, as the case may be, any third party's compiling, processing, and using the data automatically collected and entered by you. For Google Maps' terms of use, please refer to Google Maps' Terms of Service. You may also find detailed information at google.com: Transparency and Choice as well as Privacy Policy. You are required to assert your right of objection directly vis-à-vis Google. You may deactivate the Google Maps service directly via your browser's settings (deactivation of JavaScript in your browser). Using Google Maps will then no longer be possible.

SSL Encryption

For reasons of security and protection of transmission of confidential content, such as requests you send to us as website operator, our website uses SSL encryption. You may recognise encrypted connections whenever the address bar of your browser changes from "http://" to "https://" and your browser line depicts a lock icon.
Once SSL encryption is activated, data you send us cannot be read by third parties.

Right to Obtain Information, Deletion, Bloc

At any time, you are entitled to request, free of charge, disclosure of your personally identifiable data we store, their origin and recipients, the purpose of our processing your data, as well as rectification, blocking or deletion of your personally identifiable data. For such purpose and for any further questions you might have about personally identifiable data, do not hesitate to contact us at the address indicated in our Web Imprint at any time.

Objection to Advertising E-mails

DWe herewith object to using our contact details required to be disclosed within the framework of our web imprint for sending us advertising e-mails and information not expressly solicited. The operators of this website expressly reserve the right to take legal action in case of unsolicited sending of advertising information, such as spam.

Go To Top