true competence

TrueNorth is the result of our decision to make our own practical management experience available to our clients. Obviously another advisory company. But what makes us special?

Our team consists of first-class university educated colleagues, socialised in excellently managed companies, who have longstanding and extended management experience, usually as managing directors. Several years of work in top management consultancies give us conceptual strength and steadiness to clearly analyse the situation and calculate the solution. With direct reference to your P/L and balance sheet. So you won't ever receive from us out of the book solutions and we won't never send you trainees. And indeed we go the big step from concept to implementation and assume responsibility as your interim manager if requested.

Curious why we call us TrueNorth? Read this!

°1 operational excellence & technology

°1 operational excellence & technology

One does not have to look at all the megatrends, such as globalization, connectivity, individualization or mobility in detail. It is clear that increasing challenges for companies are adapting their organization and process landscape to increasingly volatile and differentiated needs. And with ever higher competition intensity.

Industry 4.0 and digitization are currently the subject of many discussions that often raise more questions than give answers. However, it also concerns the classical questions of organizational and management organization, process efficiency, especially the supply chain, and the corresponding system support. It is about the holistic design of the value chain end-to-end. Or early warning systems, which are still not sufficiently focused, which go far beyond standard controlling.



The focus is on questions such as: Is the organizational structure flexible enough to adapt to market conditions? Are the power conditions in the company unilateral and prevent balanced solutions? Are management tools and employee incentives the right ones? Is the market best addressed with the existing sales organization? Is the supply chain optimally adapted to the needs-based market supply without overstock and stock outs? Does the ERP system provide the best possible process support and do the reprots provide appropriate control information? Are the figures of the controlling system reliable and accurate and can all important questions be quickly answered? Is IT governance based on state and architecture based on best practice? Are cloud computing services sufficiently and meaningfully used?

Talk about organizational questions and controlling with Achim Bundschuh and supply chain, digitalization and IT with Frieder Schuppert.

°2 performance management & interim managment

°2 performance management & interim managment

A feeling of optimism is one of the most agreeable effects that goes along with carefully organised change. Experience tells us that any problem gets smaller when you face up to it, especially when you do not have to do so alone. Whether the occasion is a fundamental, performance-enhancing reorientation or a situation that the financier may have already alerted. The focus is on deep reorganizations, efficiency improvement and cost reduction programs. In any case, tight measures management with direct reference to P/L and balance sheet is required. Appropriate communication with the stakeholders must ensure the success in all directions.

The set of basic instruments is essentially the same. In the case of tight cash, additional instruments, eg. liquidity assurance, will be necessary and the focus of communication shifts to the financiers.

And frequently there is a need of an interim manager in the role of a chief transformation officer (CRO). To which we are specialized.


Questions that suggest such a program are, for example: Are growth and profit numbers below the industry benchmark? Or have profit and sales targets been missed for some time? - Is there an increase in alternative financing instruments, such as sale-and-leaseback or factoring too? - Are there again and again profit rescue actions, such as the cancellation of accruals? - Does the gross profit margin shrink in time? - Is the business mainly based on old customers and products? - Does the product range grow with an increase in c products?

Since special management is required in transformation situations and, for example, in the event of tight liquidity, the trust base with the financiers has to be re-established frequently enough, we are happy to be in charge as interim manager in the role of a chief transformation officer (CRO).

Talk to Wolfgang Ströbele and Frieder Schuppert.

°3 corporate development

°3 corporate development

Much disruption is going on in economy and society. Customer behavior and many other constraints are changing quickly. Technological upheavals, especially the digitization affects almost everyone and everything. So almost every company sooner or later has to face the need to make fundamental changes. The reasons for this can be very varied and frequently several are in play at the same time.

 Opportunities for growth and value creation and new business models must be sounded out and the reassortment of the value chain exploited regularly.

This addresses all topics of strategic orientation as well as options for external growth and divestments through appropriate mergers & acquisitions. And subsequently carve-out projects to ensure proper operations at “day 0” and post-merger integration measures to realize synergies.


Typical questions are: How must a successful market entry be designed? There is a takeover offer. Are there rules to consider? How is the company's value determined and can ratings differ? What is the cost of buying or selling a company? What can be done to increase company value? How can I prepare my company for succession? What is a realistic timeframe for a company sale? Why should a specialized consultant for M & A be switched on? What does an optimal working capital financing look like? When you issue bonds, what do you have to consider? Is this also possible as a medium-sized company? What makes convertible bonds attractive? How can derivatives be used well? How can a carve out be setup to success? Which post merger activities have to be drawn to gain the calculated synergies? 

Talk about M & A with Uwe Jenssen, about carve-out and post-merger integration with Frieder Schuppert and about corporate finance with Michael North.

true brands

Our customers are medium-sized companies, reputable and well-known players in their segment, often champions in their field. Being no “me too” companies, they are not afraid of unconventional and new ways that make often enough the difference.

They come from a broad range of industries such as fast moving consumer goods, machine construction, media, print and paper and health care.
 We support both the management and the owners, often private equity funds, with sophisticated well-crafted, unique and effective solutions and being independent sparring partners.

We are proud of a variety of consulting projects, a solid number of interim management mandates, regularly in the role CROs in transformation situations and well over 100 M & A deals. As discretion is a matter of honor, we would be pleased to give you more information in a personal conversation.

true results

Because every company has its own story that has to be told in more than just figures and that deserves respect. You can expect us as a consulting boutique to deliver taylor made solutions that contribute to the long-term existence of your company with measurable results you can read in your P/L and your balance sheet.

label printer (Switzerland, 50 mCHF turnover, 180 empl., private equity owned) as COO

Responsibility for die Operations: Implementation OEE, quality management, Line Clearance etc., Supply-Chain-optimization, improving of production structure by machines reconfiguration and investments | Implementation of a new controlling concept (direct costing based calculation, reporting).

paper mill (Germany, tissue and kitchen rolls, 90 mEUR turnover, 230 empl., 50 Ktons tissue in 7x24h-operations, private equity owned) - as COO

Operative responsibility for the supply chain incl. production planning and controlling, purchase and procurement | Smooth continuation of operations at „day 0“  | Complete rebuilding of the supply chain from the international procurement of raw materials to delivery of commercial central warehouses - renegotiation of the entire service structure | Significant release of capital through inventory reduction at all levels by 50% (> 30% reduction in total assets) with the Introduction of new, for fast-moving-consumer-goods suitable planning and control instruments .

Power plant engineering company (Germany, 65 mEUR turnover, 650 empl., private equity owned) - as Carve-Out-Manager and CIO

Successful replacement of IT infrastructure through a new, external hosted data centre infrastructure and application of a landscape based on Sage OL/HR, project volume 14,6 mEUR TCO5, budget deviation below 1,5% | Further development of business management tools (CRM, calculation, reporting).

paper mill (Germany, tissue and kitchen rolls as COO, 90 mEUR turnover, 230 empl., 50 ktons tissue in 7x24h-operations, private equity owned) as CSCO

Operative responsibility for the supply chain incl. production planning and controlling, purchase and procurement | Complete rebuilding of the supply chain from the international procurement of raw materials to delivery of commercial central warehouses - renegotiation of the entire service structure | Significant release of capital through inventory reduction at all levels by 50% (> 30% reduction in total assets) with the Introduction of new, for fast-moving-consumer-goods suitable planning and control instruments.

fast moving consumer goods manufacturer (700 mEUR turnover, 2,000 empl.,  in specific plant output 40 trucks per day, main customers major German discount retailers, several plants

Optimization supply chain, in particular production logistics in a plant | Examination of material flows into, in and out of the factory and verification of the logics of material flow control | Concept for the further development of the supply chain planning and control of the company as a whole | Measures and implementation to improve material flow and production efficiency

Manufacturer of commercial vehicles (Germany, 65 mEUR turnover, 320 employees) - Reconstruction reports and implementation support

Preparation of a restructuring appraisal | Securing liquidity, cash management | Introduction of a reporting system | Management support for turnaround management | Increased productivity

Buchverlag (Germany, 100 mEUR turnover, 250 employees) Turnaround in 1? years - increase of ROS from -15% to +1% - as Managing Director

Development of a restructuring concept and implementation for owners, banks and employee representatives | Securing 90mEUR credit volume, reducing indebtedness and bank negotiations | 30% reduction in personnel, reduction of variable costs approx. 10 percentage points, cost reduction | further development of the organization, realignment of production (digital printing), consolidation of logistics, reorganization of sales, implementation of key account management, further development of sales incentives | sharpened brand profiles by reducing the number of brands and new publications, focusing on top titles, introduction of a multi-channel marketing concept

Manufacturer of medical technology (Germany/Austria, 40 mEUR turnover, 280 employees) - Restructuring of a production site, closure of a business unit

Management of partial closures at the site (staff reduction, phasing out of products, termination of supply relationships, spare parts stockpiling, completion of development projects, securing documentation, inventory reduction, etc.) | Reorientation of the remaining business units

Healthcare Company (Germany, Orthopaedic Clinic with care and therapy facility of the Diakonie, 45 million EUR turnover, 600 employees) - after 12 months EBT -7% to +4%.

Restructuring concept based on IDW S6 and implementation by owners and banks | Short-term safeguarding of the portfolio by means of liquidity measures | Redesigning the management organization and streamlining the investment landscape | Significant and sustainable cost reduction, in particular of personnel costs | Strategic realignment, in particular improved and more profitable utilization of the infrastructure | Further development of the core business management systems.

Web offset printing plant (inserts and magazines) (Germany, 85 mEUR turnover, 250 staff, print volume 80 thousand tonnes) - break-even in 6 months (EBIT -13% to 0%) as managing director (CFO/CRO)

Improvement of the gross profit ratio (purchasing measures, production optimization) and reduction of fixed costs as well as realignment of sales and establishment of a new customer acquisition | Establishment of effective controlling and modern calculation procedures, communication with the financiers.

Logistics service provider (Germany, Packerei und Stauerei, 30 mEUR turnover, 170 employees) - reorganisation reports and implementation support

Preparation of restructuring reports based on IDW S6 and implementation support (banking reporting, controlling of measures, conceptual support) | capacity adjustment: Merger of companies, closure of 3 locations with capacity reduction with 30% staff reduction, development of controlling | Reduction of complexity, e. g. by streamlining the corporate structure | Securing of bank lines and financing contributions of shareholders, management of measures.

Manufacturer of sanitary fittings (Germany, 240 mEUR, 1.300 MA) - remediation concept and support for the remediation of supply chain/operations

Introduction of a modern purchasing tool | Reduction of inventories by 30 | Reorganization of parts of production | Reduction of workload and productivity increase in production through systematic insourcing or outsourcing | Defined development platforms for future products | Revised sales and production planning system | Reporting modernizes | Adjustment of variants and product ranges

Media companies in the radio/television sector (Germany, 130 mEUR, 470 MA) - Cost reduction in the overhead area

Analysis of overhead processes and structures | Identification of savings opportunities | Support and management of outsourcing processes

M&A buy side and sell side contracts: target search and selection, commercial due diligence, etc.

Organisation: structural and management organisation, re-engineering of processes and systems

Post-merger integration,

Market and competition analyses

Analysis of economic performance: ABC analysis, product calculation, planning verification, etc.

Financial analysis (balance sheet, P&L, cash flow)

Reorganisation concepts and surveys

Controlling and business planning

Assessment of capacity for reorganisation, identification of reorganisation levers and package of measures, communication with capital providers

Increase in turnover and customer recovery

Strategic review: evaluation of old strategy, determination of need for adaptation

Management audit

IT audits and introduction of systems

true values

That is why we have given ourselves a name that enrolls direction and sincerity simultaneously: A clear view at the target. Cooling in thought and with passion for the cause. Facts True to the analysis, transparent in the implementation.

And reliable as the gyrocompass showing the TrueNorth which is usually not the magnetic north!.


We act respectfully, respect the life performance of the entrepreneur as well as the interests of all Stakeholder.


We act with confidence, go transparent front and secure the understanding and support of all parties.

commercial virtues

We live the commercial virtues and gain where necessary, the sense of diligence and thrift and the work ethics.


We act in a straight line, say what we think and do what we say and keep us out of "political games".
We act fearlessly, proceed without hesitation and do what is needed.

meet our partner team

Dr. Frieder Schuppert

graduated in economics at the University of Mannheim. Before starting TrueNorth, he was MD in print media companies, mainly at von Holtzbrinck publishers. Before that, he worked with Roland Berger Management Consultants in the restructuring divisions.

He is founder and MD of TrueNorth and TrueNorth head of performance management and interim management.


Uwe Jenssen

studied business management at Munich University, specialising in banking and finance. He worked for the United Nations in New York and as a privatisation expert at the Treuhandanstalt in Berlin, then he became SVP corporate finance at Commerzbank in Kiev and Moscow with many M&A transactions finance projects.

He is as founder and MD of TrueNorth head of corporate development.


Achim Bundschuh

graduated in business administration at the University of Mannheim. Then he worked with Roland Berger Consultants in Frankfurt and Stuttgart in the operations division. Afterwards he was MD of some machine building and industrial services companies. 

He is TrueNorth head of operational excellence.


Robert Mohr

studied Industrial Engineering at the University of Wisconsin and has accompanied more than 30 projects in over 20 years. He is our specialist for special situations from turnaround management and strategic realignment to restructuring and portfolio optimization. His expertise includes performance optimization, the management of complex projects as well as restructuring reports and all commercial topics.


Wolfgang Stroebele

studied Technical Business Management at the University of Stuttgart. He has broad experience in operational management and as CFO in a. o. foundry and  plant and building services company industries. Before he worked for Roland Berger Strategy Consultants in Munich in the engineered products department.


we hire

We are always looking for committed, well-qualified and eperienced staff. TrueNorth offers responsible and varied work in a steadily growing company. Attractive rewards and technical and personal challenges for our staff are a matter of course for us.

We look forward to receiving your application.

Susanne Clark
Susanne Clarkhead of backoffice

TrueNorth Management Consultants PartGmbH

Heymannstrasse 5 | 20253 Hamburg Germany

+49 40 819 842 61 |

Nonnenstieg 21 | 20149 Hamburg | Germany
+49 40 819 842 61 |

340, Chemin de la Chevre d'Or | 06410 Biot | France
+33 (630) 368367 |

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Protecting your personal data, and complying with relevant data protection legislation, is something we take very seriously. This statement is intended to give you an overview of how we ensure this protection, what kinds of data we collect and why, and how we deal with it.