Acquisitions in Baden-Württemberg, Germany

Carrier Global Corporation acquired Blaich Automation GmbH to operate it as an Automated Logic field office, establishing Automated Logic’s first owned controls field office in Germany. Blaich Automation provides custom-engineered building and industrial control/automation systems used in mission-critical environments such as data centers, pharmaceuticals, and industrial facilities, expanding Carrier/Automated Logic’s intelligent building automation capabilities in Central Europe.

LifeFit Group has contractually agreed to acquire FIT/One Group, expanding its fitness club footprint across Germany and Austria to 210 clubs and strengthening its position in the DACH region. The deal (LifeFit’s largest to date) will integrate FIT/One’s 45 studios—33 in Germany and 12 in Austria—into LifeFit’s portfolio, with completion targeted for early April 2025 subject to regulatory approvals and financing.

H&K AG acquired all shares of Chrom-Müller Metallveredelung GmbH, along with various associated properties, from the Stark and Müller-Stark family. The purchase price was described as a high single-digit million euro amount. The deal secures long-term chrome-plating expertise for weapon barrels while enabling diversification into civil applications across automotive, mechanical/plant engineering, and aviation sectors.

Turpaz Industries Ltd. acquired 100% of the share capital of German food-flavor company Schumann & Sohn GmbH for approximately €10.7 million, with the transaction completed on November 7, 2024. The acquisition, financed through bank credit, supports Turpaz’s international expansion and strengthens its sweet-flavors position in Western Europe, particularly in Germany.

SHS Capital, together with its limited partners and other shareholders, is investing approximately €10 million of additional capital into its portfolio company Develco Pharma. The funding will be used to expand manufacturing capacity and invest in new product development and technologies to meet exceptional market demand.

AUCTUS has entered into a strategic partnership and invested in Rossmanith GmbH & Co. KG, an integrated façade construction company headquartered in Heidelberg, Germany. Rossmanith will serve as the platform company for a newly formed façade-building group focused on high architectural standards and emissions-reduction measures across the building envelope.

Volaris Group announced the acquisition of Intellior AG, a Stuttgart, Germany-based provider of Business Process Management (BPM), GRC, and integrated management systems software. Intellior’s Aeneis SaaS platform helps organizations document, optimize, and digitalize processes while improving risk transparency and compliance.

SHS Capital acquired a majority stake in ESSERT GmbH, a flexible robotics and automation company focused on pharmaceutical and life science manufacturing applications. Headquartered in Bruchsal, Baden-Württemberg, ESSERT’s core product is the modular ESSERT MicroFactory platform for automating low-volume, high-mix production. ESSERT CEO Christopher Essert will continue to hold a significant stake following the transaction.

G&N Group, a portfolio company of AURELIUS Growth Investments, has acquired Renz Sicherheitstechnik GmbH & Co. KG. Renz provides technical building technology services for fire alarm systems, security technology, and IT & telecommunications, and the deal represents G&N’s fourth add-on acquisition to strengthen its presence in southern Germany. Renz’s management team will remain in place, with Björn Renz retaining a significant stake.

Keensight Capital has acquired Onventis, a Stuttgart-headquartered provider of cloud-based procurement (source-to-pay) software for mid-market customers across Germany, Benelux and the Nordics. The transaction represents an exit by Main Capital Partners, which invested in 2019 and supported Onventis’ growth and international expansion. Onventis’ management team will remain in place and invest alongside Keensight Capital.

Bridges Sustainable Growth Funds invested in HYCUBE, a clean energy storage solutions provider for homeowners. The investment will support HYCUBE’s expansion across Germany by backing the existing management team and scaling sales through direct channels and installer partners.

SHS has sold its shares in Blazejewski MEDI-TECH GmbH, a German developer and manufacturer of endoscopes, to the Erbe Group. SHS originally invested in Blazejewski MEDI-TECH in 2020 as a minority investment and supported technology development and international growth during its holding period.

Bregal Unternehmerkapital (BU) has acquired a majority interest in medavis GmbH, a Karlsruhe-based provider of radiological information system (RIS) software used by radiology practices and clinical departments across the DACH region. Founders Jörg Dittrich and Elmar Kußmaul are retaining significant minority stakes, and BU plans to support continued geographic expansion and product development.

AURELIUS Growth Investments (AURELIUS Wachstumskapital SE & Co. KG) acquired a majority stake in MLS Lanny GmbH, a full-service provider of high-precision control and high-pressure valves used mainly in the laser industry. MLS Lanny is headquartered in Bad Wildbad, Baden-Württemberg, Germany, and the investment is intended to support the company’s growth strategy alongside its founder and managing director, Michael Lanny.

Roundliner Holding, a portfolio company of AURELIUS Growth Investments (Wachstumskapital SE & Co. KG), acquired Südplast Group, comprising Südplast GmbH and Czech PCM International SE. Südplast provides customized industrial packaging solutions focused on extrusion and confectioning, adding capacity and geographic reach to Roundliner’s existing footprint.

Mi-Jack Products, a provider of rubber-tired gantry cranes, container-handling machinery, and port/intermodal technology, announced it has acquired Germany-based Yardeye GmbH. Yardeye provides port and rail container automation, collision avoidance, real-time locating systems, and work zone protection solutions that will be integrated into Mi-Jack’s Mi-Star technology platform to expand Mi-Jack’s offerings and geographic footprint in Europe.

Formware, an output management software pioneer backed by private equity firm FLEX Capital, has acquired Rasterpunkt (RP Output Management GmbH), a specialist in output management software, managed services, and consulting. The deal is intended to create synergies, expand Formware’s OMS process capabilities, and broaden solutions offered along the output management value chain.

AURELIUS Equity Opportunities SE & Co. KGaA has agreed to sell its portfolio company AKAD University to strategic buyer Galileo Global Education for a price of more than EUR 45 million. AKAD University is a private distance-learning university headquartered in Stuttgart, Germany, and the deal represents an exit for AURELIUS, which acquired AKAD in 2014 from Franz Cornelsen Bildungsgruppe.

Funds advised by Bregal Unternehmerkapital ("BU") agreed to acquire a majority interest in Theobald Software GmbH, a Stuttgart-based provider of SAP connectivity software. The investment is intended to accelerate Theobald’s international expansion, increase R&D investment, and strengthen its technology leadership in SAP interfaces. Founder Patrick Theobald will retain a significant stake but step down from his management role; closing is expected in the first quarter of 2022.

TIMETOACT GROUP, backed by Equistone Partners Europe, has acquired software transformation specialist PKS Software GmbH, headquartered in Ravensburg, Germany. PKS will continue to be led by its existing directors Heidi Schmidt and Roland Zurawka, with Schmidt reinvesting as a shareholder in TIMETOACT GROUP. Financial terms were not disclosed.

CONET Group acquired Karlsruhe-based ISB AG to strengthen its position in the public sector and automotive markets and expand capabilities in software development, process automation, and digitalisation services. The acquisition was supported by IK Partners, CONET Group’s majority investor, and is subject to legal and regulatory approvals; financial terms were not disclosed.

Vision Healthcare reached an agreement with Vitamaze GmbH’s shareholder to acquire 100% of the company. Headquartered in Heidelberg, Germany, Vitamaze is a European vitamins, minerals and nutritional supplements e-commerce player focused on Amazon marketplaces and German e-pharma channels. The deal supports Vision Healthcare’s buy-and-build strategy to consolidate a pan-European direct-to-consumer health-tech platform.

H.I.G. Capital signed a definitive agreement to sell its German portfolio company WERU Group to DOVISTA A/S, a North European provider of vertical windows and exterior doors. WERU is a manufacturer of PVC windows and doors headquartered in Rudersberg, Baden-Württemberg, Germany; the transaction is subject to antitrust clearance.

Better Taste Holding GmbH, a portfolio company of AURELIUS Wachstumskapital SE & Co. KG (AURELIUS Growth Investments), acquired BVS Catering GmbH & Co. KG on June 30, 2021. BVS is a catering provider in the Rhine-Neckar region supplying fresh meals to schools, kindergartens, and day care centers, and the deal represents Better Taste’s third add-on acquisition to expand its position in Southwest Germany.

SHS Gesellschaft für Beteiligungsmanagement mbH has sold its majority stake in medigroba GmbH, a German homecare specialist, to Löwenstein Group (Löwenstein Medical GmbH & Co. KG). The transaction is part of a succession arrangement and will integrate medigroba into Löwenstein Group to pursue continued growth in outpatient care and homecare services.

SHS Gesellschaft für Beteiligungsmanagement mbH made an equity investment as lead investor in Blue Ocean Spine GmbH, a Germany-based developer of functional spinal implants. The funding will support development and manufacturing of Blue Ocean Spine’s next-generation, 3D-printed and adaptable cage implant systems aimed at improving efficiency and safety in spine surgery.

DexKo Global Inc., a portfolio company of KPS Capital Partners, completed the acquisition of Aguti Produktentwicklung & Design GmbH, a Langenargen, Baden-Württemberg-based provider of seating systems and seat connections for motorhomes, electric vehicles, and specialty vehicles. The deal expands DexKo’s AL-KO Vehicle Technology unit’s product portfolio into seats and seating system solutions for commercial and leisure vehicles. Financial terms were not disclosed; the transaction was announced via a definitive agreement on October 3, 2019 and closed on December 23, 2019 following customary regulatory approvals.

On July 30, 2019, AUTKOM Group became part of SCIO Automation GmbH. AUTKOM designs and commissions complete automation solutions, including electrical engineering and software development for control and process control systems, strengthening SCIO’s automation platform and expanding its service offerings in safety technology training and IT solutions.