Carve-outs and creating value: the advisor viewpoint
Carve-outs involve many stakeholders and moving parts, and guiding these complex transactions is where our Clairfield advisors add invaluable value.
In this interview from Clairfield Outlook 2026, Carina Küffen, M&A advisor at Clairfield in Germany, shares her perspective. Her focus is on transformation M&A, special situations, carve-outs, and spin-offs, and she has advised on more than 70 complex M&A transactions. She discusses how she approaches carve-outs differently and why detailed planning is critical to success: “In carve-outs, everything lies in the preparation phase. The very first task is to define the transaction object and the perimeter so buyers can understand what they are acquiring. That means being explicit about assets, contracts, people, governance, and the standalone organisation’s structure after separation. Buyers need to be aware of the past, present, and future financials. With a carve-out, you are not selling the history, you are selling the future.”
Read the full interview here.
