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CAPCELLENCE Mittelstandspartner

CAPCELLENCE Mittelstandspartner

Hamburg, Germany·Founded 2005··capcellence.com

CAPCELLENCE Mittelstandspartner is a Hamburg-based independent single-family-office private equity holding founded in 2005 (independent via a 2009 MBO led by Dr. Spyros Chaveles) that acquires majority stakes in DACH Mittelstand companies in mechanical and plant engineering, industrial and electrical/measurement technology, and B2B services and software, investing only its own entrepreneurially earned capital with a long-term evergreen approach and no fund-driven exit pressure.

AUM
Funds
1
vintages 2005
Portfolio
4
Exits
8
SectorsIndustrialsBusiness ServicesConsumerTMT

Key facts

HQHamburg, Germany
Founded2005

Recent exits

4WHEELS
Business Services · 2023 · 12yr hold
ARGO-HYTOS
Industrials · 2022 · 6yr hold
Atelier Gardeur
Consumer · 2013 · 5yr hold
Kundo
Industrials · 2013 · 6yr hold

Coverage notes

1 fund tracked, 12 portfolio companies (4 active · 8 realized). Verified weekly from public filings and deal announcements.

Funds & portfolio

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

1 fund
CAPCELLENCE Evergreen HoldingEvergreen
2005 · 21yr4 active · 8 realized

Unrealized

4 held
IndustrialsAustria· Entry 2025
IndustrialsGermany· Entry 2022
SOBAtecActive
IndustrialsGermany· Entry 2026
IndustrialsSwitzerland· Entry 2021

Realized

8 exits
4WHEELSExited 2023
Business ServicesGermany· Entry 2011
MBOto
ARGO-HYTOSExited 2022
IndustrialsGermany· Entry 2016
Trade Saleto
Atelier GardeurExited 2013
ConsumerGermany· Entry 2008
MBOto
Deutsche SeeExited 2006
ConsumerGermany· Entry 2002
KundoExited 2013
IndustrialsGermany· Entry 2007
TMTGermany· Entry 2002
IPO
QundisExited 2013
IndustrialsGermany· Entry 2007
SPHEROSExited 2012
IndustrialsGermany· Entry 2005
Secondaryto
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Investment team

Senior partners. Hand-checked from public filings and the firm's own site.

Dr. Spyros Chaveles
Co-Founder & Managing Partner
Last updated July 2026 · Sourced from public filings