BU Bregal Unternehmerkapital
DACH mid-market buyout and growth firm founded in Munich in 2015 by Florian Schick and Jan-Daniel Neumann together with the Brenninkmeijer family (C and A, COFRA), whose vehicles anchor its funds. BU invests in Mittelstand succession situations, MBOs, growth financings and corporate spin-offs with equity tickets up to EUR 300m across software, industrial technology, business services, healthcare and consumer, with a Northern Italy focus added since Fund III. EUR 7bn raised across four fund generations and nearly 160 investments (40 plus platforms, over 120 add-ons) since 2015. Dual-seat structure: founded and operationally rooted in Munich (BU Bregal Unternehmerkapital GmbH) while the group holding BU Bregal Unternehmerkapital AG has been seated in Zug since 2023; rebranded to BU in 2025. Landmark exit: EA Elektro-Automatik to Fortive at EUR 1,585m enterprise value.
Key facts
Recent exits
Coverage notes
5 funds tracked, 46 portfolio companies (32 active · 14 realized). Verified weekly from public filings and deal announcements.
Sector breakdown
46 companiesFunds & portfolio
Every fund BU Bregal Unternehmerkapital has raised, with its portfolio companies. Hand-checked from public filings.
BU Bregal Unternehmerkapital Multi-Asset Continuation FundBuyout2026 · 0yr€811M2 active
Unrealized
2 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Business Services |  Germany | 2026 | |
| Software |  Italy | 2026 |
Germany· Entry 2026Italy· Entry 2026Bregal Unternehmerkapital IVBuyout2024 · 2yr€2.6B11 active
Unrealized
11 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Industrials | Germany | 2026 | |
| Software |  Switzerland | 2024 | |
| IT Services | Germany | 2024 | |
| E-commerce | Germany | 2024 | |
| AdTech | Canada | 2024 | |
| MedTech | Germany | 2024 | |
| Industrials | Germany | 2026 | |
| IT Services | Italy | 2024 | |
| SaaS |  Netherlands | 2025 | |
| Logistics |  Denmark | 2025 | |
| SaaS | Denmark | 2025 |
Germany· Entry 2026Switzerland· Entry 2024Germany· Entry 2024Germany· Entry 2024Germany· Entry 2024Germany· Entry 2026Italy· Entry 2024Netherlands· Entry 2025Denmark· Entry 2025Denmark· Entry 2025Bregal Unternehmerkapital IIIBuyoutHarvesting2021 · 5yr€1.9B10 active · 2 realized
Unrealized
10 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| E-commerce | Germany | 2023 | |
| E-commerce | Germany | 2023 | |
| Software | Germany | 2022 | |
| Industrials | Italy | 2022 | |
| IT Services | Switzerland | 2023 | |
| Consumer | Germany | 2021 | |
| HealthTech | Germany | 2022 | |
| Software | Germany | 2022 | |
| Healthcare | Germany | 2021 | |
| Software | Germany | 2022 |
Germany· Entry 2023Germany· Entry 2023Germany· Entry 2022Italy· Entry 2022Switzerland· Entry 2023Germany· Entry 2021Germany· Entry 2022Germany· Entry 2022Germany· Entry 2021Germany· Entry 2022Realized
2 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Software | Germany | 2021 | 2025 | Secondary | – | ||
| Software | Italy | 2021 | 2026 | Continuation Vehicle | – |
Bregal Unternehmerkapital IIBuyoutHarvesting2018 · 8yr€1.2B3 active · 7 realized
Unrealized
3 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Industrials | Germany | 2020 | |
| Hospitality | Germany | 2018 | |
| Consumer |  Austria | 2020 |
Germany· Entry 2020Germany· Entry 2018Austria· Entry 2020Realized
7 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Industrials | Switzerland | 2019 | 2022 | Secondary | – | ||
| Industrials | Germany | 2019 | 2023 | Trade Sale | – | ||
| Software | Germany | 2020 | 2022 | – | – | ||
| Software |  Sweden | 2020 | 2022 | – | – | ||
| Business Services | Germany | 2019 | 2024 | Trade Sale | – | ||
| Software | Germany | 2019 | 2022 | – | – | ||
| LegalTech | Germany | 2020 | 2025 | Trade Sale | – |
Bregal Unternehmerkapital IBuyoutHarvesting2015 · 11yr€550M6 active · 5 realized
Unrealized
6 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Business Services | Germany | 2018 | |
| Consumer | Switzerland | 2017 | |
| Industrials | Switzerland | 2016 | |
| Healthcare | Germany | 2018 | |
| Industrials | Germany | 2011 | |
| Software | Germany | 2013 |
Germany· Entry 2018Switzerland· Entry 2017Switzerland· Entry 2016Germany· Entry 2018Germany· Entry 2011Germany· Entry 2013Realized
5 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Healthcare | Germany | 2015 | 2017 | Secondary | – | ||
| Industrials | Germany | 2017 | 2019 | Trade Sale | – | ||
| Business Services | Germany | 2016 | 2026 | Continuation Vehicle | – | ||
| Software | Germany | 2017 | 2022 | – | – | ||
| AdTech | Germany | 2015 | 2021 | Secondary | – |
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About BU Bregal Unternehmerkapital
Bregal Unternehmerkapital is the largest mid-cap private equity investor headquartered in the DACH region with more than €7.0 billion of capital raised to date as of December 2024, headquartered in Zug, Switzerland with offices in Munich, Amsterdam, Milan and London. The firm was founded in 2015 as the DACH mid-cap arm of Bregal Investments, the private equity platform of the COFRA Group (Brenninkmeijer family), and operates with a partner-led investment team. Fund IV closed in May 2024 at a €2.65 billion hard cap.
Investment thesis
Bregal Unternehmerkapital deploys capital through approximately four funds, targeting majority and minority shareholdings, growth financing, succession, carve-outs and management transactions in founder- and family-led Mittelstand hidden champions with equity tickets of €75-300 million. Sector focus spans software, industrial technology, business services and healthcare and life sciences and healthtech. Geographic deployment is the DACH region (Germany, Austria, Switzerland) plus northern Italy and neighbouring economies. The platform converts founders into advisory-board members and management teams into co-owners.
Recent activity
Recent realised exits include legal tech software (2025-2026) and risk-management and decision software (2025). Recent acquisitions include IT consulting and outsourcing (2026) plus a legal tech software platform. The platform continues active deployment of Fund IV across the DACH Mittelstand mandate. Detailed buyer names and multiple data available on Pro at €29/month.
Portfolio platforms backed by BU Bregal Unternehmerkapital made 11 researched add-on acquisitions during its ownership. See the roll-up tracker
Investment team
Senior partners. Hand-checked from public filings and the firm's own site.
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Germany·€2.7BGet the full picture on BU Bregal Unternehmerkapital.
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