Anticipate your decisions and identify best targets and strategies

ICONE Group :

Your trusted partner for acquisitions and divestments

ICONE Group is a consulting firm for Industrial Mergers & Acquisitions, with one of its specializations being the "Industrial Conversions". Resulting out of a partnership of several former industrials and industrial consulting experts, the firm is based in Paris and has a very competent and international network of partners (former industrial and investors).

Whenever one of our clients plans to make acquisitions, acquire a competitor or build up a new activity to go faster in its development, we analyze their ultimate goal and then offer several solutions. We can build a research project in a few days, and we also offer (exclusive) approaches for disengagements in an extremely confidential manner, if the customer wishes.

Whenever one of our clients plans to move his industrial production for cost reasons, we can first try and assist in reducing production costs, with a mission for productivity improvements, before the client decides the delocalization of hos production. We can also sometimes be an active player in relocation, assisting our client to bring back its production of an emerging country, and re-integrating his production at best in Europe.

But if the choice is unavoidable, and the client must withdraw from one of his production sites for strategic reasons, we also study whether a traditional closure, including PES, or "Industrial Conversion" before PES, would be a better strategic choice for its withdrawal. This allows us to react upstream and avoid even a Social Plan by providing a viable solution to this site BEFORE the implementation of a costly redundancy plan.

Our Story :

The founders and partners of ICONE Group are former industrials as well as former executives of large consulting firms.

The group was created with the main objective to support the industrial strategy of customers, large French and European industrial groups. This means to anticipate their industrial movements, like acquisitions, divestitures, "Offshoring", or "Relocations", in order to ensure the search for new acquisition opportunities and the search for potential buyers for one of the sites concerned by a future disengagement.

The methodology of "Industrial Conversion", as one of the specializations of ICONE Group, was started more than 20 years ago by one of the founders of ICONE Group. The approach is very little known in Europe. It was mostly deployed through independent consultants, acting only on behalf of their clients. The founders of ICONE Group have set themselves the ambitious target of making the Conversion a specialization of their services in itself, because it is very complementary to their existing Mergers & Acquisitions activity.

An experienced team in
Industrial Reconversions

Our founders and partners:

The network of international offices and partners of ICONE Group helps clients in rapidly finding buyers for their industrial sites concerned by the "Industrial Conversion", but also to research opportunities for divestments and acquisitions.

Our partners are excellent multidisciplinary consultants and senior industry experts, and that is why we can respond in a competent manner and reply to nearly all your demands.

Stefanie Pfeffel

ICONE Group President and partner

Roles in the past:

  • Consulting companies (MD for companies of Altran Technologies, Arthur D. Little) Countries: France, Germany, India, Eastern Europe
  • Council for International Development (Founder of XAVANTES, specialized in Emerging Markets)
  • Advice in project financing (European Commission, Misistry of Economy of Lower Saxony in German, PREUSSAG AG Holding ) Countries: Germany, Brussels, worldwide projects

Stefanie Pfeffel

Our team of senior expert consultants:


  • Technical analysis of industrial sites
  • Technical Expertise for the analysis of industrial means
  • Improving Industrial Performance
  • Expertise in HR and Employment Law
  • Experts in Lean Manufacturing (Black Belt, Six Sigma)
  • Optimization of working capital associated to Lean Manufacturing
  • Relocation of factories
  • Industrial Delocalisations
  • HR Support at Social Plan
  • Industrial Development at the International