Cost for FDD / Legal & Tax DD in Germany - EV of c. 5m

Question to all German searchers:

We are a SELF-FUNDED Search Fund which is why we are on a super tight budget when it comes to DD.
We are looking at a service business with €1m - 1.5m EBITDA.

CDD and FDD we do ourselves. However, are there any experiences by German searchers that are insightful here?


How much did you spend on DD? Who did you work with? What do the banks want to see? I am super happy about any DD experiences that you had.