What investment strategy does Aheim Capital focus on?

Aheim Capital focuses on Buyout strategies in the private equity space.

How many portfolio companies does Aheim Capital have?

Aheim Capital has 3 active portfolio companies and 5 completed exits and 2 funds tracked on GP Intel.

Where is Aheim Capital headquartered?

Aheim Capital is headquartered in Munich, Germany.

When was Aheim Capital founded?

Aheim Capital was founded in 2005.

What sectors does Aheim Capital invest in?

Aheim Capital invests across Industrials, Software, Consumer, Business Services.

What are Aheim Capital's recent exits?

Recent realized exits by Aheim Capital include: milch & zucker AG (2023) to Bertelsmann Investments; detailM GmbH (2020) to Aurelius Wachstumskapital; time:matters GmbH (2016) to Lufthansa Cargo; Aqua Vital Quell- und Mineralwasser GmbH (2013) to Halder; Remy & Geiser GmbH (2012) to Austrian family office.

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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.

AUM

–

Funds

vintages 2007–2015

Portfolio

Exits

Aheim Capital is a Munich buyout firm with 3 active companies and 5 exits.

SectorsIndustrials Software Consumer Business Services

Key takeaways

·Average hold across 5 realized deals: 5 years.
·Top sector focus: Software (25% of portfolio).

Sector breakdown

8 companies

Software

2 · 25%

Industrials

2 · 25%

TMT

1 · 13%

Consumer

1 · 13%

Hospitality

1 · 13%

Logistics

1 · 13%

Key facts

HQMunich, Germany

Founded2005

Websiteaheim.com

Recent exits

Aheim Capital sold milch & zucker AG to Bertelsmann Investments in 2023 after 2 years.

Aheim Capital sold detailM GmbH to Aurelius Wachstumskapital in 2020 after 2 years.

Aheim Capital sold time:matters GmbH to Lufthansa Cargo in 2016 after 10 years.

Aheim Capital sold Aqua Vital Quell- und Mineralwasser GmbH to Halder in 2013 after 5 years.

Coverage notes

2 funds tracked, 8 portfolio companies (3 active · 5 realized). Verified weekly from public filings and deal announcements.

Funds & portfolio

Every fund Aheim Capital has raised, with its portfolio companies. Hand-checked from public filings.

2 funds

Fund

Strategy

Vintage

Size

Assets

Exits

Aheim Evergreen HoldingActive

Evergreen20151 assets2 exits

Evergreen

2015 · 11yr

–

Unrealized

1 held

Company	Entry
PDV GmbH Software · Germany	2015

Realized

2 exits

Company	Entry	Exit	Type	Buyer	MOIC
detailM GmbH TMT · Germany	2018	2020	Secondary	Aurelius Wachstumskapital	–
milch & zucker AG Software · Germany	2021	2023	Trade Sale	Bertelsmann Investments	–

Aheim Unternehmer-Fonds I

Small-Mid Buyout2007€70M2 assets3 exits

Small-Mid Buyout

2007 · 19yr

€70M

Unrealized

2 held

Company	Entry
Metzgerei Zeiss GmbH Hospitality · Germany	2010
W.AG Funktion + Design GmbH Industrials · Germany	2014

Realized

3 exits

Company	Entry	Exit	Type	Buyer	MOIC
Aqua Vital Quell- und Mineralwasser GmbH Consumer · Germany	2008	2013	Secondary	Halder	–
Remy & Geiser GmbH Industrials · Germany	2008	2012	Trade Sale	Austrian family office	–
time:matters GmbH Logistics · Germany	2006	2016	Trade Sale	Lufthansa Cargo	–

Frequently asked questions

What investment strategy does Aheim Capital focus on?: Aheim Capital focuses on Buyout strategies in the private equity space.
How many portfolio companies does Aheim Capital have?: Aheim Capital has 3 active portfolio companies and 5 completed exits and 2 funds tracked on GP Intel.
Where is Aheim Capital headquartered?: Aheim Capital is headquartered in Munich, Germany.
When was Aheim Capital founded?: Aheim Capital was founded in 2005.
What sectors does Aheim Capital invest in?: Aheim Capital invests across Industrials, Software, Consumer, Business Services.
What are Aheim Capital's recent exits?: Recent realized exits by Aheim Capital include: milch & zucker AG (2023) to Bertelsmann Investments; detailM GmbH (2020) to Aurelius Wachstumskapital; time:matters GmbH (2016) to Lufthansa Cargo; Aqua Vital Quell- und Mineralwasser GmbH (2013) to Halder; Remy & Geiser GmbH (2012) to Austrian family office.