Acquisitions in Hamburg, Germany

Mindgruve acquired Hamburg-based commerce agency Ameo to accelerate its European expansion and strengthen its international retail media and cross-border commerce capabilities. Ameo is known for Amazon advertising, Amazon Marketing Cloud expertise, and analytics services across Europe, and its capabilities are expected to enhance Mindgruve’s Sightline measurement and business intelligence platform. Financial terms were not disclosed, and Ameo founder Sönke Hansen will join Mindgruve as SVP of Commerce for Europe.

Asolvi, a European provider of field service management (FSM) software, acquired Hamburg-based Foxtag GmbH to strengthen its position in the fire and security market across Europe. Foxtag will be integrated into Asolvi’s portfolio to deepen product capabilities and expand Asolvi’s presence in Germany and the broader European region. The acquisition is Asolvi’s sixth deal under Volpi Capital’s ownership.

Octopus Energy Generation, the renewables arm of Octopus Energy Group, acquired Hamburg-based renewable energy developer MN Projekt GmbH through the Octopus Energy Development Partnership (OEDP) fund. MN Projekt brings a ~2 GW development pipeline spanning more than 70 solar and battery storage projects across Germany, supporting the country’s renewable electricity targets.

TIMETOACT GROUP, an Equistone Partners Europe-backed IT services provider, has acquired Hamburg-based beBOLD GmbH, a consulting boutique specializing in cloud transformation and digital innovation. The deal strengthens TIMETOACT GROUP’s independent cloud consulting and IT strategy consulting capabilities as part of its ongoing buy-and-build strategy.

A company backed by Permira funds agreed to acquire GGW Group, a Hamburg-headquartered European insurance brokerage and MGA platform serving SMEs, with closing subject to regulatory approvals (initially expected in Q2 2024). Following completion, Hg also invested (via its Hg Saturn fund) and will hold a co-controlling stake in GGW alongside Permira, marking the next phase of the group’s growth in Germany and broader Europe.

Luciole Medical AG has agreed to acquire Spiegelberg GmbH & Co. KG, a Hamburg-based medical technology company focused on neurosurgical catheters and intracranial pressure (ICP) measurement probes. SHS Capital is selling its shares in Spiegelberg after a period of growth, with the deal intended to create product development and sales synergies across overlapping neuroclinic and hospital customer bases.

An affiliate of H.I.G. Capital has completed the sale of Der Grüne Punkt – Duales System Deutschland (DSD) to Circular Resources. The combination is intended to create a large-scale circular-economy solutions provider in Europe, supported by DSD’s packaging licensing operations and plastics recycling capabilities.

Antin Infrastructure Partners, through its Flagship Fund V, agreed to become the new majority shareholder of Blue Elephant Energy AG to support the company’s growth strategy. Blue Elephant Energy is a Hamburg-based renewable energy platform that develops, acquires, and operates solar and wind farms across Europe and Latin America. Financial terms were not disclosed, and the transaction is expected to close in Q4 2022 subject to customary regulatory clearances.

Cadmus acquired Hamburg-based communications agency RaikeSchwertner to expand the capabilities of its German subsidiary, ifok GmbH. The deal adds a Hamburg location and strengthens ifok’s communications and campaigns offering, including digital products and multimedia, with continued service for RaikeSchwertner’s existing client contracts.

Sasol agreed to sell its German subsidiary Sasol Wax GmbH, which comprises Sasol’s European wax business, to AWAX s.p.a. Following the transaction, the business will operate under the name Hywax GmbH effective 1 March 2022 as AWAX expands its wax product portfolio and technological capabilities. Sasol’s South African Fischer–Tropsch hard wax business (including the portion managed in Europe by Sasol Wax GmbH) is excluded from the sale and will remain with Sasol.

Sport Alliance, a Hamburg-based fitness-focused software provider, secured a €60 million growth investment from PSG. The funding will be used to accelerate product development, strengthen go-to-market teams, support international expansion, and potentially pursue M&A activity.

Eurofins Scientific has completed the acquisition of bioskin GmbH, a full-service dermatology-focused contract research organization (CRO) conducting clinical trials for drugs, medical devices, food supplements, and advanced cosmetics. The deal expands Eurofins’ dermatology clinical testing footprint and strengthens its cosmetics and personal care testing offering, including enhanced capabilities in Germany.

Summa Equity Fund II acquired a majority stake in myneva, a European SaaS software provider for the social care sector. The investment is intended to support further digitization of care-provider workflows and enable myneva’s continued growth and international expansion across Europe, marking Summa’s first investment in Germany.

Charterhouse Capital Partners has agreed to invest in Telio Management GmbH, a Hamburg-headquartered provider of technology and communications services for correctional facilities. Charterhouse is acquiring Telio from Deutsche Beteiligungs AG (DBAG), which will reinvest part of its proceeds and retain a minority stake.

wecare Group acquired Seniorenresidenz Eidelstedt, a 78-place care facility in Hamburg, from private owners. The acquisition expands wecare Group’s footprint in the German care market, bringing its total operated facilities to 13. wecare Group was initiated in February 2020 with support from the Quadriga Capital Funds.

An affiliate of H.I.G. Capital has signed a definitive agreement to acquire Lagardère Sports from the Lagardère Group, subject to antitrust approvals. The Lagardère Group will retain a 24.9% minority shareholding following the transaction. Lagardère Sports is a global sports marketing firm providing sponsorship, media, brand consulting, event management, and athlete management services.

Funds advised by Triton acquired a stake in All4Labels – Global Packaging Group, partnering with the company’s current management as the business continues to be run by its existing leadership. Owner families are remaining invested, while minority shareholder Genui Partners is selling its shares. Financial terms were not disclosed.

Tecan Group announced the acquisition of IBL International, an immunoassay company focused on microtiter plate-based specialty diagnostics, for a total cash consideration of EUR 29.0 million. IBL International will be integrated into Tecan's Life Sciences Business, expanding Tecan’s offering to a more fully integrated instrument-and-reagent solution for research and clinical laboratories. IBL International’s main operations are located in Hamburg, Germany, and closing is expected within the coming weeks.