ALLEGRA CAPITAL

About ALLEGRA CAPITAL

ALLEGRA CAPITAL GmbH is a Munich-headquartered independent private equity firm founded in 2000, specialising in the acquisition of medium-sized corporate subsidiaries in special situations across Europe. The firm positions itself as the better option for corporations with loss-making subsidiaries, targeting carve-outs that strategic owners are no longer willing or able to sustain on their balance sheet. ALLEGRA CAPITAL is structured as an evergreen advisor that channels capital through deal-specific holding companies rather than a series of conventional time-limited limited partner funds. The firm's institutional name appears on dedicated special-purpose vehicles rather than as a commingled fund vehicle, and cumulative assets under management are not publicly disclosed. The team comprises approximately six senior investment professionals based in Munich. Since inception in 2000, ALLEGRA CAPITAL has completed roughly ten platform acquisitions and executed exits to strategic acquirers, family offices and IT-sector buyers.

Investment thesis

ALLEGRA CAPITAL targets European corporate carve-outs of medium-sized subsidiaries in special situations, with a specific willingness to take on loss-generating businesses where parent corporations seek to halt cash drains and exit non-core operations. Sector scope is intentionally broad and is defined by the underlying carve-out opportunity flow rather than by sectoral conviction, with representative verticals across the portfolio spanning medical technology, optics, software and IT services, electronics, display components, automotive supply, special materials, plant engineering, trade, environmental consulting, logistics, postal services, printing services and corporate services. Geographic focus is pan-European, with deals executed in Germany, Switzerland, France, Sweden, Norway and Italy. The firm specialises in turnaround and operational restructuring, deploying in-house operating partners alongside management to stabilise working capital, restructure cost bases, rebuild commercial pipelines and reposition the standalone business for either strategic sale or family-office ownership.

Recent activity

Recent portfolio acquisitions across the current and prior vintages include Genoud Entreprise d'arts graphiques in printing services (2020), Musumeci S.p.A. in printing services (2020), Bring CityMail in postal and logistics services, and VGT-DYKO in the refractory industry (2013). Recent realisations include Pirobase Imperia in software and IT services (2022) and VGT-DYKO in the refractory industry (2019). The firm continues to execute its pan-European corporate carve-out mandate across special situations, with corporate sellers in the firm's deal history spanning major industrial groups across Germany, Switzerland and the Nordics. Detailed buyer names and multiple data available on Pro at €49/month.