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Foto: Tobias Klingel, M.Sc.

Foto: Tobias Klingel, M.Sc.

Certified Public Accountant, Tax Advisor, Managing Partner

Mr. Klingel studied business administration at Saarland University, specializing in finance and accounting, business taxation, and auditing.

Mr. Klingel joined Dornbach GmbH in 2017. Since January 2021, Mr. Klingel has been an authorized signatory of Dornbach GmbH. Since January 2026, Mr. Klingel has been a managing partner at DORNBACH GmbH.

In addition, he has been a lecturer in business valuation and accounting under the German Commercial Code (HGB) and International Financial Reporting Standards (IFRS) at the Chair of Business Administration, specializing in Accounting and Finance, at Saarland University for several years.

His practice focuses on strategic and objective business valuation (in accordance with IDW S 1) as well as valuations for accounting purposes (impairment tests and valuation of earn-outs). Furthermore, Mr. Klingel’s consulting practice encompasses the accounting treatment and valuation of equity-based compensation plans (in accordance with IFRS 2) as well as structured financial instruments (Quantitative Advisory Services).

He advises family-owned businesses of medium size, start-ups, and publicly traded companies.

Mr. Klingel is the (co-)author of numerous professional articles in the field of business valuation.

Selected publications:

  • Methods for Valuing Earn-Outs – Practical Challenges, Typical Sources of Error & Case Studies, in: BewertungsPraktiker 2025, pp. 98–107 (together with Armin Hagel and Matthias Meitner)
  • Earn-out clauses as a contingent purchase price component in business combinations, in: KoR IFRS 2025, pp. 181–186 (together with Armin Hagel and Matthias Meitner)
  • Capital Gains Taxation and Objective Valuation of Partnerships under IDW S 1 (as amended in 2008), in: WPg 2023, pp. 592–598 (together with Christoph Hell and Thomas Tesche)
  • The Valuation of Partnerships Using the DCF Method, in: BewertungsPraktiker 2022, pp. 66–74 (with Christoph Hell)
  • Case Study on the Valuation of Partnerships Using the DCF Method, in: BewertungsPraktiker 2022, pp. 116–121 (with Christoph Hell)
  • Tax Effects of Debt Financing in Corporations and Their Valuation in DCF Calculations, in: Yearbook of Business Valuation 2017, pp. 165–180 (with Christoph Hell and Thomas Tesche)

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Sekretariat Nadja Kühner
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