Cinven
Cinven is a London private equity firm with €30.0B AUM, 52 active companies and 56 exits.
- ·18 exits in the last 5 years · consistent DPI cadence.
- ·Average hold across 54 realized deals: 6 years.
- ·Best return: 3.2x MOIC on CeramTec (2018).
- ·Fund cadence: ~4Y between vintages · last raise 2024.
Sector breakdown
106 companiesGeography breakdown
12 geographiesKey facts
Recent exits
Cinven sold MasOrange to Orange S.A. in 2026 after 6 years.
Cinven sold TK Elevator to Kone in 2026 after 6 years.
Cinven sold Clario to Thermo Fisher Scientific in 2026 after 10 years.
Cinven sold Stada to CapVest Partners in 2026 after 9 years.
Coverage notes
7 funds tracked, 108 portfolio companies (52 active · 56 realized). Verified weekly from public filings and deal announcements.
Funds & portfolio
Every fund Cinven has raised, with its portfolio companies. Hand-checked from public filings.
Cinven Fund VIIIBuyout2024€13.2B16 assetsBuyout2024 · 2yr€13.2B16–
Unrealized
16 held| Company | Entry |
|---|---|
| Alter Domus Business Services · UK | 2024 |
| Artefact Business Services · UK | 2025 |
| Domia Group Business Services · UK | 2024 |
| Finaxy Consumer · France | 2024 |
| Flint Global Business Services · UK | 2025 |
| Fressnapf Group Consumer · UK | 2024 |
| Grant Thornton Financials · UK | 2025 |
| idealista PropTech · UK | 2024 |
| Nutrisens Healthcare · France | 2025 |
| Objectway Fintech · UK | 2025 |
| Regenity Biosciences MedTech · US | 2026 |
| Salsify SaaS · US | 2026 |
| Smart Communications TMT · UK | 2025 |
| Universidad Alfonso X el Sabio Education · Spain | 2025 |
| Vitamin Well Consumer · Sweden | 2024 |
| Vitamin Well (partial) Consumer · Sweden | 2024 |
Cinven Strategic Financials FundBuyout2022€1.5B6 assetsBuyout2022 · 4yr€1.5B6–
Unrealized
6 held| Company | Entry |
|---|---|
| Compre Financials · UK | 2021 |
| Finaxy Group Financials · France | 2024 |
| IFGL Financials · UK | 2022 |
| Optio Group InsurTech · UK | 2026 |
| Policy Expert InsurTech · UK | 2025 |
| Sakra Financials · UK | 2023 |
Cinven Seventh FundBuyout2019€10.0B18 assets6 exitsBuyout2019 · 7yr€10.0B186
Unrealized
18 held| Company | Entry |
|---|---|
| Amara NZero Business Services · UK | 2023 |
| Archer Business Services · UK | 2015 |
| Arxada Agriculture · UK | 2021 |
| Barentz II Business Services · UK | 2019 |
| BioAgilytix Biotech · UK | 2021 |
| Envu Agriculture · UK | 2022 |
| group.One Telecom · UK | 2023 |
| LGC MedTech · UK | 2020 |
| MasMovil Telecom · Spain | 2020 |
| Master Builders Solutions Construction · UK | 2023 |
| National Seating & Mobility Healthcare · UK | 2019 |
| OMNES Education Business Services · UK | 2019 |
| Restaurant Brands Europe Hospitality · UK | 2021 |
| RTB House TMT · UK | 2019 |
| Taxwell TMT · UK | 2021 |
| think-cell TMT · UK | 2021 |
| True Potential Fintech · UK | 2022 |
| Ufinet International II Telecom · UK | 2022 |
Realized
6 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Arcaplanet Consumer · Italy | 2022 | 2024 | Trade Sale | Fressnapf Group | – |
| MasOrange Telecom · UK | 2020 | 2026 | Trade Sale | Orange S.A. | – |
| Miller Industrials · UK | 2021 | 2024 | Trade Sale | GIC | – |
| Netceed Telecom · UK | 2022 | 2025 | Secondary | Pemberton Asset Management / Blue Owl Capital / Hayfin Capital Management | – |
| Nitel Telecom · US | 2021 | 2024 | Trade Sale | Comcast Business | – |
| TK Elevator Industrials · UK | 2020 | 2026 | Trade Sale | Kone | – |
Cinven Sixth FundBuyout2016€7.0B7 assets10 exitsBuyout2016 · 10yr€7.0B710
Unrealized
7 heldRealized
10 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Chryso Construction · France | 2017 | 2021 | Trade Sale | Saint-Gobain | – |
| Clario HealthTech · UK | 2016 | 2026 | Trade Sale | Thermo Fisher Scientific | – |
| Envirotainer Logistics · UK | 2018 | 2022 | Secondary | EQT and Mubadala | – |
| HBX Group Business Services · UK | 2016 | 2025 | IPO | – | – |
| Jaggaer TMT · US | 2019 | 2024 | Secondary | Vista Equity Partners | – |
| Kurt Geiger Consumer · UK | 2016 | 2025 | Trade Sale | Steve Madden | – |
| One.com Telecom · Denmark | 2019 | 2023 | Continuation Vehicle | Cinven Fund VII / Ontario Teachers Pension Plan | – |
| Planasa Consumer · Spain | 2018 | 2024 | Trade Sale | EW Group | – |
| Stada Pharma · UK | 2017 | 2026 | Secondary | CapVest Partners | – |
| Viridium Gruppe InsurTech · Germany | 2017 | 2025 | Trade Sale | Allianz / BlackRock / T&D Holdings / Generali / Hannover Re | – |
Cinven Fifth FundBuyout2012€5.3B3 assets19 exitsBuyout2012 · 14yr€5.3B319
Unrealized
3 held| Company | Entry |
|---|---|
| Host Europe Cloud Infrastructure · UK | 2013 |
| Labco MedTech · France | 2015 |
| Synlab MedTech · UK | 2015 |
Realized
19 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| AMCo Pharma · UK | 2012 | 2015 | Trade Sale | Concordia Healthcare Corp. | – |
| Camaieu Consumer · France | 2013 | 2016 | Secondary | Ardian and Centerbridge Partners | – |
| CeramTec Industrials · Germany | 2013 | 2018 | Secondary | BC Partners / PSP Investments / Ontario Teachers | 3.2x |
| CPA Global LegalTech · UK | 2012 | 2020 | Trade Sale | Clarivate Analytics | – |
| EnServe Business Services · UK | 2012 | 2016 | Secondary | Rubicon Partners | – |
| Guardian Financial Services Financials · UK | 2011 | 2015 | Trade Sale | Admin Re (Swiss Re) | – |
| Klockner Pentaplast Industrials · Germany | 2001 | 2007 | Secondary | Blackstone | – |
| Medpace Healthcare · US | 2014 | 2017 | Trade Sale | Medpace Holdings Inc. | – |
| Northgate Public Services TMT · UK | 2014 | 2018 | Trade Sale | NEC Corporation | – |
| Premium Credit Fintech · UK | 2015 | 2022 | Secondary | TowerBrook Capital Partners | – |
| Prezioso Linjebygg Construction · Norway | 2014 | 2016 | Trade Sale | Altrad Group | – |
| Pronet Business Services · Turkey | 2012 | 2018 | Trade Sale | Securitas | – |
| Sebia MedTech · France | 2014 | 2017 | Secondary | Montagu Private Equity / Astorg Partners | 2.4x |
| SLV Consumer · Germany | 2014 | 2016 | Secondary | Ardian | – |
| Tractel Industrials · France | 2015 | 2022 | Trade Sale | Alimak Group | – |
| Ufinet International Telecom · Spain | 2014 | 2019 | Continuation Vehicle | Cinven Fund VI / Antin Infrastructure (Spain) | – |
| Unique Pub Company Hospitality · UK | 2012 | 2015 | Trade Sale | Enterprise Inns | – |
| Visma SaaS · Norway | 2014 | 2017 | Secondary | HgCapital / GIC / Montagu / ICG | – |
| Ziggo Telecom · Netherlands | – | 2013 | IPO | Public markets | – |
Cinven Fund IVBuyout2006€4.4B0 assets14 exitsBuyout2006 · 20yr€4.4B014
Realized
14 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Ahlsell Construction · Sweden | 2006 | 2012 | Secondary | CVC Capital Partners | – |
| Amadeus TMT · Spain | 2005 | 2010 | IPO | – | – |
| Avio Aerospace & Defence · Italy | 2006 | 2013 | Trade Sale | GE | – |
| Avolon Aerospace & Defence · Ireland | 2010 | 2016 | Trade Sale | Bohai Leasing | – |
| CBR Industrials · Netherlands | 2007 | 2007 | Secondary | EQT V | – |
| Coor Business Services · Sweden | 2007 | 2016 | IPO | – | – |
| Eutelsat Telecom · France | 2007 | 2012 | Trade Sale | Abertis Telecom S.A. and Lehman Brothers International (Europe) | – |
| Gondola Hospitality · UK | 2007 | 2015 | Secondary | Hony Capital and Bridgepoint | – |
| Jost Mobility · Germany | 2008 | 2017 | IPO | – | – |
| Just Group Financials · UK | 2008 | 2017 | Secondary | – | – |
| Numericable Group Telecom · France | 2005 | 2016 | Trade Sale | Altice | – |
| Partnerships in Care Healthcare · UK | 2005 | 2014 | Trade Sale | Acadia Healthcare | – |
| Phadia MedTech · Sweden | 2010 | 2011 | Trade Sale | Thermo Fisher Scientific Inc. | – |
| Spire Healthcare Healthcare · UK | 2007 | 2014 | IPO | – | – |
Cinven Fund IIIBuyout2001€2.2B0 assets7 exitsBuyout2001 · 25yr€2.2B07
Realized
7 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Fitness First Hospitality · UK | 2003 | 2005 | Secondary | BC Partners | – |
| Frans Bonhomme Construction · France | 2000 | 2003 | Secondary | Apax Partners | – |
| Gala Coral Consumer · UK | 2003 | 2010 | Secondary | Apollo Management and other mezzanine lenders | – |
| HEG Telecom · UK | 2003 | 2016 | Trade Sale | GoDaddy Inc. | – |
| Maxeda Consumer · Netherlands | 2004 | 2015 | Secondary | Ardian and GoldenTree Asset Management | – |
| MediMedia TMT · US | 2002 | 2006 | Secondary | Vestar Capital Partners | – |
| NCP Business Services · UK | 2003 | 2005 | Secondary | 3i | – |
Other portfolio companies
2 more Cinven investments not tied to a tracked fund.
- Ongoing Warehouse · SaaS · Sweden · 2026
- William Hill · Consumer · UK · 1999
About Cinven
Cinven is a leading European private equity firm with €30.0 billion of assets under management as of December 2024, headquartered in London with offices in Paris, Frankfurt, Madrid, Milan, Luxembourg, New York and Hong Kong. The firm was founded in 1977 originally as the in-house investment arm of the British Coal Pension Fund, before becoming fully independent in 1995 through a partner-led management buyout. Cinven remains partner-owned and is one of the longest-established institutional private equity platforms in Europe with a 48-year continuous investment track record.
Investment thesis
Cinven deploys capital from successive flagship buyout funds into European mid and large-cap companies with enterprise values typically between €500 million and €5 billion, with equity tickets of €100 million to €1 billion per transaction. Sector focus spans Business Services, Consumer, Financial Services, Healthcare, Industrials, TMT and Education, with dedicated sector teams driving thematic origination across the platform. The firm emphasises operational value creation through portfolio improvement initiatives and selective build-up M&A strategies across multiple cycles.
Recent activity
Recent realised exits include Clario (healthcare, 2026), MasOrange (TMT, 2026), STADA (healthcare, 2026 partial), Kurt Geiger (consumer, 2025), Netceed (TMT, 2025) and Viridium Gruppe (financials, 2025), demonstrating strong 2025-2026 distribution momentum across multiple sectors. The platform tracks 8 funds, 48 active portfolio companies and 53 realised exits, with the latest flagship vintage actively deploying capital across European target geographies.
Portfolio platforms backed by Cinven made 36 researched add-on acquisitions during its ownership.
Frequently asked questions
- How many portfolio companies does Cinven have?
- Cinven has 52 active portfolio companies and 56 completed exits and 7 funds tracked on GP Intel.
- Where is Cinven headquartered?
- Cinven is headquartered in London, United Kingdom.
- What is Cinven's assets under management?
- Cinven manages approximately €30.0B in assets under management.
- What are Cinven's recent exits?
- Recent realized exits by Cinven include: MasOrange (2026) to Orange S.A.; TK Elevator (2026) to Kone; Clario (2026) to Thermo Fisher Scientific; STADA (2026) to CapVest Partners; Netceed (2025) to Pemberton Asset Management / Blue Owl Capital / Hayfin Capital Management; Kurt Geiger (2025) to Steve Madden; Viridium Gruppe (2025) to Allianz / BlackRock / T&D Holdings / Generali / Hannover Re; Arcaplanet (2024) to Fressnapf Group.
Similar firms
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