The Client:

Kapsch Public TransportCom specializes in the development, installation and maintenance of ticketing systems for public transport. Headquartered in Belgium, the company has 160 employees and generates around EUR 20 million in sales per year and is represented in Europe, Africa and the USA.

The Project:

  • Due to challenging large projects in Belgium and the USA, the company has slid into an earnings and liquidity crisis.
  • The goal is to work out different restructuring options and to implement one of the options after the owners have made a decision.
  • Management Factory was mandated to work out restructuring options and to manage Kapsch Public TransportCom. After a two-year restructuring phase, an M&A process was initiated and the company was sold to a strategic investor.


  • Stabilization of difficult customer projects
  • Initiation and successful completion of a distressed M&A transaction