CFO → COO → CEO · Platform Lifecycle Leadership
Francesco di Bari
Platform value isn't acquired.
It's built through execution.
The acquisition is only the beginning. Real value is created afterwards — in the years between close and exit.
That's where I operate.
€8.5bn+
Transaction Experience
50+
M&A Transactions
€200m+
P&L Ownership
~€1bn
Revenue Responsibility
€120m
Refinancing — Structured & Closed
16
Countries Operated
The Reality
Why platforms fail after acquisition.
The deal closes.
The value creation plan is approved.
The board is aligned.
Then execution begins.
The gap between the investment thesis
and operational reality starts to appear.
- 01
Systems don't integrate.
- 02
Reporting trust breaks down.
- 03
Teams protect old structures.
- 04
Growth exposes complexity.
- 05
Cash discipline erodes.
- 06
Exit optionality narrows.
After 25+ years across acquisitions, integrations, transformations and turnarounds —
different companies, recurring patterns.
The actors change.
The theatre remains the same.
After 25+ years across acquisitions, integrations, transformations and turnarounds — much is new.
Very little is unfamiliar.
The Operator
Not an advisor. An operator.
Many have managed portfolio companies.
Far fewer have built value across acquisitions, integrations, refinancings and exits.
Very few have owned the entire platform lifecycle.
Not as an advisor. As the one whose name was at the bottom of the final decision.
The Operating System
A repeatable system. Not a career path.
One operating logic — applied across the full ownership cycle.
Plan
CFOTranslate investment thesis into strategy, governance, financing and execution priorities.
Build
COOTurn fragmented businesses into scalable platforms through integration and execution.
Run
CEOOwn performance, cash discipline and exit readiness until results are delivered.
The Record
Where the operating system delivered.
Thirteen cases across acquisitions, integrations, refinancings and exits.
Signature Cases
"Everyone else saw a deal not worth doing. I saw the strategic value the board had missed — and convinced them to act."
Run · Exit Value Creation
Infineon → TI
Infineon Technologies AG · Senior Director M&A · 2007–2009
Texas Instruments initially asked ~€280m; the Board declined. Recognising TI's strategic need to exit, Francesco won the Board on buying market share over defending a 4% position and negotiated the acquisition at ~€32–34m. The enlarged Wireline business was later sold to Golden Gate Capital — a process he supported but did not lead.
"I gave the CEO an honest –€20M valuation. He accepted it on the spot."
Build · Deal Structuring Through Transparency
T-Systems / Vorwerk — €280M contract
Vorwerk AG · VP Commercial Manager & Project Lead · 2003
Won a 10-year IT outsourcing contract by giving the CEO an honest −€20m valuation — accepted on the spot.
"No structure, no market presence, no back-office. Three years later: €200M in revenue, 400 people."
Build · Greenfield Platform
Mercedes-Benz Thailand
Mercedes-Benz Thailand · Founder, Governance Lead · 1997–2001
Built Mercedes-Benz Thailand from startup into a national business generating ~€200m revenue with ~400 employees within three years.
Plan · Industrial Turnaround & Refinancing
Schiess — €120M refinancing
Schiess GmbH (Shenyang Machine Tool Group) · MD & CFO · 2009–2012
Structured, negotiated, led and executed the €120m refinancing; from −€110m equity to break-even; consolidated 10+ banks to 2.
Build · International Platform Build
debis → T-Systems — European ICT platform
debis Systemhaus → T-Systems · M&A Lead / MD / CFO · 2000–2007
Supported the carve-out and scaling into a leading European ICT platform; later MD & CFO of T-Systems Italy.
Run · Platform Integration & Exit
Solera — German platform turnaround
Solera / Audatex, AUTOonline, Exsoft · CFO & COO · 2013–2015
Integrated three fragmented German entities into one operating platform, lifted its EBITDA margin from 35% to 75%, and removed the operational blocker that had constrained valuation ahead of Vista's $6.5bn acquisition.
The complete record — filtered by phase of the operating system.
Click a tab to explore all thirteen cases.
All 13 cases
Plan · CFO discipline · 5 cases
Build · COO integration · 5 cases
Run · CEO ownership · 3 cases
Plan · Industrial turnaround & refinancing
Schiess — €120M refinancing
Schiess GmbH (Shenyang Machine Tool Group) · MD & CFO · 2009–2012
Situation
€50m revenue, €34m loss, equity at −€110m.
Action
Structured, negotiated, led and executed the €120m refinancing with an international banking consortium; consolidated 10+ lenders to 2.
Result
€120m refinancing secured, banking consolidated to 2 core partners, covenant compliance and operational break-even restored.
Plan · Capital markets & cash release
Matica — €12.5M cash released
Matica Fintec · CEO Advisor & Capital Markets Lead · 2012–2013
Situation
Public technology company with trapped working capital and limited capital markets credibility.
Action
Working capital program, reverse-merger listing preparation and investor repositioning.
Result
€12.5m cash released, equity value grown ~50%.
Plan · Financial transparency & recovery
T-Systems Hungary — €30M irregularity resolved
T-Systems (Hungary) · MD & CFO · 2002–2004
Situation
Board-level responsibility across two legal entities; a €30m irregularity linked to an earn-out surfaced during consolidation.
Action
Took MD & CFO control, replaced management, executed 70% workforce restructuring.
Result
Consolidated four entities into one unified structure; full operational and financial control restored.
Plan · Business model pivot & investment
Electrochaea — insolvency averted & model pivot
Electrochaea · CFO & Head of Business Development · 2018–2020
Situation
Near insolvency under a capital-intensive build-and-operate model; low investor appetite for infrastructure projects.
Action
Bridge financing to avert insolvency; pivoted the model from EPC delivery to technology licensing; built a 120-lead pipeline (US/Nordics) and raised €7m from ENGIE.
Result
Positioned the company for Baker Hughes; the subsequent €54m financing was completed after his mandate.
Plan · Growth readiness & investor positioning
Reactive Robotics — multiple financing rounds
Reactive Robotics · Business Development & Fundraising Advisor · 2019–2021
Situation
Deep-tech robotics company with strong technology but no financing readiness or investor positioning.
Action
Built the institutional-grade financial model; led investor and supplier negotiations.
Result
Multiple financing rounds closed; company moved from funding pressure into a scalable investment case.
Build · International platform build
debis → T-Systems — European ICT platform
debis Systemhaus → T-Systems · M&A Lead / MD / CFO · 2000–2007
Situation
DaimlerChrysler's internal IT organization had to become a standalone international ICT platform.
Action
Supported the carve-out and international scaling — M&A, outsourcing deals and country integrations; later MD & CFO roles across country units.
Result
Supported the carve-out and its scaling into a leading European ICT platform; later MD & CFO of T-Systems Italy (~€900m revenue, shared with the CEO).
Build · PE carve-out stabilization
Fixture Tech — carve-out stabilization
Fixture Tech Solutions · CEO · 2022–2025
Situation
PE-backed carve-out from Carl Zeiss with a legacy hardware-focused model.
Action
Repositioned from hardware producer to metrology automation; hard inventory and cash program; shift to recurring revenue.
Result
Operating losses halved, runway extended by three years, inventory down 33%, recurring revenue lifted to 38% in 18 months.
Build · Strategic capacity partnership
Infineon / TSMC — $1.2B 10-year supply
Infineon Technologies AG · Senior Director M&A · 2007–2009
Situation
Need for 65nm automotive capacity with no capex for a new fab — little outsourcing precedent in the market.
Action
As commercial lead, owned the modelling, deal architecture, negotiation and governance — coordinating ~60 specialists, reporting to Jochen Hanebeck (today CEO of Infineon).
Result
$1.2bn 10-year supply agreement with TSMC — the template for Infineon's future supply contracts.
Build · Deal structuring through transparency
T-Systems / Vorwerk — €280M contract
Vorwerk AG · VP Commercial Manager & Project Lead · 2003
Situation
Global IT costs above budget, hidden in a matrix structure; late in the bid the CEO asked to absorb Zeda — his 200-person internal IT unit he could not politically close.
Action
Designed the Future Mode of Operation; gave the CEO an honest −€20m valuation for Zeda instead of inflating it.
Result
Accepted on the spot: €280m 10-year contract secured, with costs capped 30% below budget.
Build · Greenfield platform
Mercedes-Benz Thailand — €200M platform
Mercedes-Benz Thailand · Founder, Governance Lead · 1997–2001
Situation
Market entry from zero — no structure, no market presence, no back-office.
Action
As one of a four-person founding team reporting into Daimler-Benz's executive structure, built the national sales and operating platform across all functions.
Result
~€200m revenue and 400 employees within three years.
Run · Exit value creation
Infineon / Texas Instruments — the acquisition others had dismissed
Infineon Technologies AG · Senior Director M&A · 2007–2009
Situation
Texas Instruments wanted to exit its DSL business and initially sought a substantially higher price; Infineon's Board declined.
Action
Francesco recognised TI's strategic need to exit, convinced the Board that acquiring market share beat defending a 4% position, and led the negotiation of the acquisition at ~€32–34m — a fraction of the original ask.
Result
The enlarged Wireline Communications business was later sold to Golden Gate Capital for ~€243m — roughly 8× the acquisition — becoming Lantiq. Francesco led the acquisition; he supported but did not lead the later divestment.
Run · Platform integration & exit
Solera (Audatex / AUTOonline) — German platform turnaround
Solera / Audatex, AUTOonline, Exsoft · CFO & COO · 2013–2015
Situation
Hired directly by CFO Renato Giger and CEO Tony Aquila: three German businesses operating independently, blocking profitability and valuation.
Action
As CFO & COO, ran Project "HAKA": integrated the three businesses into one operating platform, aligned management and led the Sachcontrol acquisition.
Result
Lifted the German operating platform's EBITDA margin from 35% to 75% and removed the operational blocker limiting valuation. The group was subsequently acquired by Vista Equity for ~$6.5bn.
Run · Buy-and-build platform expansion
AUTOonline / Sachcontrol — €34M platform expansion
Solera / AUTOonline · CFO & COO International Markets · 2013–2015
Situation
Fragmented automotive software ecosystem requiring portfolio completion in digital claims.
Action
Led acquisition and integration of Sachcontrol AG.
Result
Completed the digital-claims platform ahead of Solera's later $6.5bn exit to Vista Equity.
Industries
Complex systems.
Same patterns.
Different technologies. Different markets. The same execution challenges.
Execution patterns transfer across industries. Technology changes. The operating challenges rarely do.
Industrial Technology & Automation
Helping industrial businesses scale through operational discipline, platform integration and execution.
Software & Data Platforms
Transforming fragmented software businesses into scalable operating platforms.
Automotive & Mobility
From OEM market build-up to supplier transformation and international operations.
Energy Transition
Scaling deep-tech and energy transition companies from technology to commercial execution.
Semiconductors & Electronics
Complex strategic transactions, outsourcing and technology partnerships.
Industrial Services
Transformation, restructuring and value creation across international industrial businesses.
"The technology changes.
The execution patterns repeat."
Verified by the people who were there.
Board-level references — in their own words.
"Francesco combines analytical rigor with execution focus, even under pressure."
Jochen Hanebeck
CEO · Infineon Technologies
"Francesco consistently translated strategy into clear priorities and drove execution across the organisation."
Christian Mützner
CFO Europe · Solera
"Particularly effective in environments that require operational stabilisation, restructuring and strategic transformation under demanding shareholder expectations."
Frederic Hierl
Partner · ASC Investment
"We offered Francesco a permanent CFO/MD role following the successful completion of his mandate."
Xing (Daniel) Guan
Chairman · SYMG
"A great achiever, with a full view about strategic business topics and financial implications. Very instrumental to the success of my business."
Sandro Cerato
Infineon Technologies
"Led negotiations with investors and suppliers, built a state-of-the-art internal financial model, and ensured our startup successfully navigated the transition from start-up into growth phase."
Alex Koenig
CEO · Reactive Robotics
Public Transactions & External Validation
Selected evidence of execution.
Independently verifiable — every entry links to its external source.
When to Call
The moment to bring me in.
Six situations where an operator — not another advisor — is what the value case needs.
01
The execution gap
The value creation plan has stalled and is drifting away from the investment case.
02
Governance & trust crisis
The numbers can't be trusted, and internal failures are putting shareholder value at risk.
03
Liquidity & cash pressure
Severe cash constraints demand refinancing and hard operational discipline.
04
Business model transition
A shift from capital-intensive hardware to recurring, scalable revenue.
05
Post-merger instability
Integration friction and fragmented reporting are threatening the exit path.
06
Distressed carve-out
A unit must be stabilized and separated without losing exit value.
Contact
Let's talk about your portfolio company.
Tell me where the value case stands — and I'll tell you where I'd start.
Every conversation is confidential. For a direct slot, use the calendar; otherwise send a note and I'll come back to you.
Thank you — message received.
I'll come back to you personally. For anything time-sensitive, the calendar link is the fastest route.