DUBAG Group
DUBAG Group is a Munich-based private equity advisory firm founded in 2009 that specializes in special-situations investing, principally corporate carve-outs and orphaned divisions spun out of large industrial groups. It advises the Lenbach Equity Opportunities (LEO) fund series and has completed over 20 acquisitions including carve-outs from Nestle, TRUMPF, Schaeffler, Vitesco, Saint-Gobain and Stora Enso, actively restructuring and growing acquired businesses in mechanical engineering, healthcare, media and industrial products.
Key facts
Recent exits
Coverage notes
3 funds tracked, 22 portfolio companies (15 active · 7 realized). Verified weekly from public filings and deal announcements.
Sector breakdown
22 companiesFunds & portfolio
Every fund DUBAG Group has raised, with its portfolio companies. Hand-checked from public filings.
Lenbach Equity Opportunities IIITurnaround2024 · 2yr€80M8 active
Unrealized
8 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Industrials |  Germany | 2025 | |
| Industrials | Germany | 2024 | |
| Industrials | Germany | 2025 | |
| Construction | Germany | 2026 | |
| Aerospace & Defence | Germany | 2026 | |
| Mobility |  Italy | 2026 | |
| Healthcare |  Spain | 2025 | |
| Mobility |  France | 2026 |
Germany· Entry 2025Germany· Entry 2024Germany· Entry 2025Germany· Entry 2026Germany· Entry 2026Italy· Entry 2026Spain· Entry 2025France· Entry 2026Lenbach Equity Opportunities IITurnaround2019 · 7yr€40M6 active · 2 realized
Unrealized
6 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Mobility | Germany | 2022 | |
| Mobility | Germany | 2023 | |
| Telecom |  Switzerland | 2023 | |
| Business Services | Germany | 2019 | |
| Business Services | Germany | 2023 | |
| Industrials | Italy | 2021 |
Germany· Entry 2022Germany· Entry 2023Switzerland· Entry 2023Germany· Entry 2019Germany· Entry 2023Italy· Entry 2021Realized
2 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Business Services | Germany | 2022 | 2024 | Trade Sale | – | ||
| Construction | Germany | 2020 | 2023 | Trade Sale | – |
Lenbach Equity Opportunities IEvergreenActive2017 · 9yr1 active · 5 realized
Unrealized
1 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Industrials | Germany | 2014 |
Germany· Entry 2014Realized
5 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Industrials | Germany | 2010 | 2012 | Trade Sale | – | ||
| Pharma | Germany | 2013 | 2018 | Trade Sale | – | ||
| TMT | Germany | 2013 | 2019 | Secondary | – | ||
| Industrials | Germany | 2017 | 2020 | Trade Sale | – | ||
| Consumer | Germany | 2015 | 2020 | Secondary | – |
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