Aheim Capital

Munich, Germany·Founded 2005·

Buyout

·aheim.com

Aheim Capital is an owner-managed, independent Munich-based investment firm founded in 2005 in Starnberg that acquires majority and minority stakes in profitable, owner-managed German small-cap Mittelstand companies, typically via succession solutions. From 2006 to 2014 it invested through the closed-end Aheim Unternehmer-Fonds I (EUR 70m, backed by pension schemes, foundations and family offices), and since 2015 it invests exclusively the own capital of its sole shareholder as an evergreen industrial holding with no fixed holding periods. It targets owner-managed firms with revenue above EUR 5m and EBITDA margins of at least 20 percent across industrial, IT and software, logistics, packaging, plastics, chemicals and medtech niches. The firm is led by managing partner Frank Henkelmann, formerly of General Atlantic and Morgan Stanley, and is a BVK member.