What investment strategy does CAPCELLENCE Mittelstandspartner focus on?

CAPCELLENCE Mittelstandspartner focuses on Buyout, Growth strategies in the private equity space.

How many portfolio companies does CAPCELLENCE Mittelstandspartner have?

CAPCELLENCE Mittelstandspartner has 4 active portfolio companies and 8 completed exits and 1 fund tracked on GP Intel.

Where is CAPCELLENCE Mittelstandspartner headquartered?

CAPCELLENCE Mittelstandspartner is headquartered in Hamburg, Germany.

When was CAPCELLENCE Mittelstandspartner founded?

CAPCELLENCE Mittelstandspartner was founded in 2005.

What sectors does CAPCELLENCE Mittelstandspartner invest in?

CAPCELLENCE Mittelstandspartner invests across Industrials, Business Services, Consumer, TMT.

What are CAPCELLENCE Mittelstandspartner's recent exits?

Recent realized exits by CAPCELLENCE Mittelstandspartner include: 4WHEELS (2023) to Management; ARGO-HYTOS (2022) to Voith; Atelier Gardeur (2013) to Management; Kundo (2013) to HgCapital; Qundis (2013) to HgCapital; SPHEROS (2012) to Deutsche Beteiligungs AG; Deutsche See (2006) to BPE Unternehmensbeteiligungen GmbH.

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CAPCELLENCE Mittelstandspartner

Hamburg, Germany·Founded 2005·

Buyout Growth Equity

·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

vintages 2005

Portfolio

Exits

CAPCELLENCE Mittelstandspartner is a Hamburg buyout firm with 4 active companies and 8 exits.

SectorsIndustrials Business Services Consumer TMT

Key takeaways

·Average hold across 8 realized deals: 6 years.
·Top sector focus: Industrials (58% of portfolio).

Sector breakdown

12 companies

Industrials

7 · 58%

Consumer

2 · 17%

Business Services

1 · 8%

TMT

1 · 8%

Mobility

1 · 8%

Geography breakdown

3 geographies

Germany

10 · 83%

Austria

1 · 8%

Switzerland

1 · 8%

Key facts

HQHamburg, Germany

Founded2005

Websitecapcellence.com

Recent exits

CAPCELLENCE Mittelstandspartner sold 4wheels to Management in 2023 after 12 years.

CAPCELLENCE Mittelstandspartner sold Argo-hytos to Voith in 2022 after 6 years.

CAPCELLENCE Mittelstandspartner sold Atelier Gardeur to Management in 2013 after 5 years.

CAPCELLENCE Mittelstandspartner sold Kundo to HgCapital in 2013 after 6 years.

Partners

Dr. Spyros ChavelesCo-Founder & Managing Partner

Coverage notes

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

Investment team

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

Dr. Spyros Chaveles

Co-Founder & Managing Partner

Funds & portfolio

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

1 fund

Fund

Strategy

Vintage

Size

Assets

Exits

CAPCELLENCE Evergreen HoldingActive

Evergreen20054 assets8 exits

Evergreen

2005 · 21yr

–

Unrealized

4 held

Company	Entry
AUTOLIFT Group Industrials · Austria	2025
NARR Gruppe Industrials · Germany	2022
SOBAtec Industrials · Germany	2026
THE Machines Group Industrials · Switzerland	2021

Realized

8 exits

Company	Entry	Exit	Type	Buyer	MOIC
4wheels Business Services · Germany	2011	2023	MBO	Management	–
Argo-hytos Industrials · Germany	2016	2022	Trade Sale	Voith	–
Atelier Gardeur Consumer · Germany	2008	2013	MBO	Management	–
Deutsche See Consumer · Germany	2002	2006	Secondary	BPE Unternehmensbeteiligungen GmbH	–
Kundo Industrials · Germany	2007	2013	Secondary	HgCapital	–
M-U-T AG (Nynomic) TMT · Germany	2002	2007	IPO	–	–
Qundis Industrials · Germany	2007	2013	Secondary	HgCapital	–
Spheros Mobility · Germany	2005	2012	Secondary	Deutsche Beteiligungs AG	–

Frequently asked questions

What investment strategy does CAPCELLENCE Mittelstandspartner focus on?: CAPCELLENCE Mittelstandspartner focuses on Buyout, Growth strategies in the private equity space.
How many portfolio companies does CAPCELLENCE Mittelstandspartner have?: CAPCELLENCE Mittelstandspartner has 4 active portfolio companies and 8 completed exits and 1 fund tracked on GP Intel.
Where is CAPCELLENCE Mittelstandspartner headquartered?: CAPCELLENCE Mittelstandspartner is headquartered in Hamburg, Germany.
When was CAPCELLENCE Mittelstandspartner founded?: CAPCELLENCE Mittelstandspartner was founded in 2005.
What sectors does CAPCELLENCE Mittelstandspartner invest in?: CAPCELLENCE Mittelstandspartner invests across Industrials, Business Services, Consumer, TMT.
What are CAPCELLENCE Mittelstandspartner's recent exits?: Recent realized exits by CAPCELLENCE Mittelstandspartner include: 4WHEELS (2023) to Management; ARGO-HYTOS (2022) to Voith; Atelier Gardeur (2013) to Management; Kundo (2013) to HgCapital; Qundis (2013) to HgCapital; SPHEROS (2012) to Deutsche Beteiligungs AG; Deutsche See (2006) to BPE Unternehmensbeteiligungen GmbH.