Chequers Capital
Key facts
Recent exits
Coverage notes
4 funds tracked, 61 portfolio companies (20 active · 41 realized). Verified weekly from public filings and deal announcements.
Funds & portfolio
Every fund Chequers Capital has raised, with its portfolio companies. Hand-checked from public filings.
Chequers Capital XVIIIBuyout2022 · 4yr€1.2B9 active · 1 realized
Unrealized
9 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Adenes | Business Services | Belgium | 2023 |
| Altea | IT Services | Germany | 2023 |
| Aserti Group | Industrials | France | 2026 |
| Cheops | IT Services | Italy | 2023 |
| Conformgest | – | Italy | 2025 |
| Gourmet Italian Food | Industrials | Italy | 2025 |
| Nayak | Business Services | Italy | 2024 |
| OCI | IT Services | France | 2022 |
| Somacis | Industrials | France | 2022 |
Chequers Capital XVIIBuyout2017 · 9yr€1.1B6 active · 10 realized
Unrealized
6 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| 7days | Business Services | France | 2021 |
| Alliance Etiquettes | Business Services | France | 2021 |
| ITTC (formerly Syserso) | IT Services | France | 2021 |
| Jiliti Group | IT Services | Germany | 2020 |
| Phoenix | Industrials | France | 2016 |
| Selini | Business Services | Germany | 2021 |
Realized
10 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Alkern | Industrials | France | 2017 | 2025 | Trade Sale | – | |
| Altema | Business Services | France | 2016 | 2023 | Secondary | – | |
| Biolchim | Business Services | Italy | 2017 | 2022 | Trade Sale | – | |
| Bozzetto | Industrials | Italy | 2017 | 2023 | Secondary | – | |
| ECT | Industrials | France | 2016 | 2023 | Secondary | – | |
| Fime | Industrials | France | 2016 | 2024 | Trade Sale | – | |
| MTA | Industrials | Italy | 2020 | 2023 | Trade Sale | – | |
| Riri | IT Services | Italy | 2018 | 2023 | Trade Sale | – | |
| SLG | Industrials | Belgium | 2017 | 2022 | Secondary | – | |
| Wörner | Industrials | Germany | 2017 | 2021 | Trade Sale | – |
Chequers Capital XVIBuyout2011 · 15yr€850M1 active · 11 realized
Unrealized
1 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Spandex | Business Services | Switzerland | 2016 |
Realized
11 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Cordenka | Industrials | Germany | 2011 | 2019 | Trade Sale | – | |
| DFG | Industrials | Germany | 2013 | 2018 | Secondary | – | |
| DTK | Healthcare | Germany | 2010 | 2014 | Trade Sale | – | |
| Idverde | Healthcare | France | 2014 | 2018 | Secondary | – | |
| Metabo | IT Services | Germany | 2012 | 2016 | Trade Sale | – | |
| Perl | IT Services | France | 2010 | 2014 | Trade Sale | – | |
| Provalliance | Industrials | France | 2012 | 2016 | Secondary | – | |
| Rollon | Business Services | Italy | 2013 | 2018 | Trade Sale | – | |
| Silver Care | Industrials | Germany | 2010 | 2014 | Trade Sale | – | |
| Thermocoax | Healthcare | France | 2010 | 2021 | Trade Sale | – | |
| Valvitalia | Healthcare | Italy | 2010 | 2014 | Secondary | – |
Chequers Capital XVBuyout2005 · 21yr€500M0 active · 19 realized
Realized
19 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Accelya | Industrials | France | 2007 | 2018 | Secondary | – | |
| Alma Consulting | Business Services | France | 2001 | 2007 | Secondary | – | |
| Bio 7 | Business Services | France | 2009 | 2014 | Secondary | – | |
| CAE | Business Services | France | 2002 | 2007 | Trade Sale | – | |
| Cegelec | Business Services | France | 2001 | 2006 | Trade Sale | – | |
| Cenexi | Business Services | France | 2008 | 2016 | Secondary | – | |
| E.CF | Industrials | Germany | 1994 | 2011 | Secondary | – | |
| ECS | Industrials | France | 2005 | 2013 | Secondary | – | |
| Elior | Healthcare | France | 2007 | 2016 | IPO | – | – |
| Extruflex | Business Services | France | 2007 | 2013 | Secondary | – | |
| FRR | Business Services | France | 2006 | 2017 | Trade Sale | – | |
| IMS | Industrials | France | 2004 | 2006 | IPO | – | – |
| Legris Industrie | IT Services | France | 2003 | 2006 | Trade Sale | – | |
| MDD | IT Services | France | 2004 | 2007 | Trade Sale | – | |
| Salins | Business Services | France | 2008 | 2014 | Trade Sale | – | |
| Santé Developpement | Business Services | France | 2005 | 2007 | Trade Sale | – | |
| SES Imagotag | Business Services | France | 2009 | 2017 | Trade Sale | – | |
| TCR | – | Germany | 2006 | 2016 | Secondary | – | |
| Tractel | Healthcare | France | 2001 | 2007 | Trade Sale | – |
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About Chequers Capital
Chequers Capital is a European mid-market private equity firm with €3 billion of assets under management as of December 2024, headquartered in Paris with additional European offices. The firm has built a multi-decade track record across successive flagship vintage funds focused on European mid-cap LBO transactions, with particular strength in industrial businesses, business services and selective consumer-facing companies.
Investment thesis
Chequers targets European mid-cap LBO transactions with equity ticket sizes typically ranging from €30 million to €150 million per transaction, focusing on profitable companies with strong management teams and consolidation potential. Sector focus spans Business Services, Industrials, IT Services and Healthcare, with depth across European primary and secondary buyout markets. The firm emphasises operational value creation through bolt-on M&A strategies and management team partnership across multi-year holding periods.
Recent activity
Recent realised exits include Alkern (industrials, 2025), Fime (industrials, 2024), Altema (business services, 2023), Bozzetto (industrials, 2023) and ECT (industrials, 2023), reflecting strong distribution momentum across the industrials franchise. The platform tracks 5 funds, 16 active portfolio companies and 41 realised exits across a multi-decade track record. Detailed buyer names and multiple data available on Pro at €29/month.
Similar firms
Other private equity firms tracked on GP Intel.
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