Strategy, business development and M&A advisory for the thermal management and HVAC automotive sector — from founders and operators.
We are an Austria-based advisory boutique. Our clients range from start-ups seeking first customers or investors, through Tier-2 and Tier-1 suppliers, to OEMs — and the investors and strategic buyers behind them. Most mandates begin with strategy: where the answer is to grow, we open markets; where it is to transact, we shape and close the deal.
MD Strategy Group brings together two established practices and 40+ years of combined experience — in thermal management and HVAC, company founding, strategy, business development and M&A. Their founders’ eighth venture, and the first built together.
20+ years in automotive & e-mobility leadership — corporate strategy, OEM / Tier-1 business development and company-building, from idea to launch.
20+ years in automotive — strategy-driven engineering for thermal-management systems, technical due diligence and an exceptional global industry network.
Strategy, the sector network and M&A process on one side; engineering depth, benchmarking and due-diligence capability on the other. Together: one team, one mandate, end-to-end — with 40+ years of combined sector leadership from day one.
Thermal management and HVAC automotive are entering a phase of structural change. After years as a background subsystem, the segment has moved into the strategic foreground — driven by electrification, battery thermal architectures and refrigerant transitions.
Underneath the headlines, a quieter consolidation is taking place in the thirty- to three-hundred-million-euro range: family-owned specialists without succession, carve-outs from corporate parents, and technology firms that have hit the ceiling of organic growth.
These are not questions answered by a generalist M&A boutique or a strategy firm without operational background. They require people who have managed these businesses and built the relationships.
Low-GWP alternatives entering serial xEV production — redesign, validation and certification at once.
2025–2030 is the window for Tier-1 / Tier-2 positioning decisions.
Most deals in this segment span two or more continents.
We work as one team with a selected set of partners across Europe, North America and Asia — each chosen for depth in an area we deliberately do not cover ourselves. At the core sits our sister company SATTELO — 42 thermal-management engineers and 220+ delivered projects — giving every mandate engineering depth, benchmarking and due-diligence capability in-house. Partners are not subcontractors. Seven of our twelve partners are shown here — see the full network →
Mariatrosterstraße 18/2
8043 Graz, Austria
md-strategy-group.com