What investment strategy does DUBAG Group focus on?

DUBAG Group focuses on Buyout, Growth strategies in the private equity space.

How many portfolio companies does DUBAG Group have?

DUBAG Group has 15 active portfolio companies and 7 completed exits and 3 funds tracked on GP Intel.

Where is DUBAG Group headquartered?

DUBAG Group is headquartered in Munich, Germany.

When was DUBAG Group founded?

DUBAG Group was founded in 2009.

What sectors does DUBAG Group invest in?

DUBAG Group invests across Industrials, Healthcare, Business Services, TMT, Consumer.

What are DUBAG Group's recent exits?

Recent realized exits by DUBAG Group include: ATOZ Facility Solutions (2024) to HOWOGE; Holzwerke Pfarrkirchen (Lignopan) (2023) to DEBA Group; Scheven (2020) to Diringer & Scheidel; Schwinn (2020) to Private investor; MMC Studios (2019) to Novum Capital; Lomapharm (2018) to Daicel Corporation; IDC (International Detergent Compounds) (2012) to Warwick Chemicals.

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DUBAG Group

Munich, Germany·Founded 2009·

Buyout Growth Equity

·dubag.eu

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.

AUM

–

Funds

vintages 2017–2024

Portfolio

Exits

DUBAG Group is a Munich buyout firm with 15 active companies and 7 exits.

SectorsIndustrials Healthcare Business Services TMT Consumer

Key takeaways

·Average hold across 7 realized deals: 4 years.
·Top sector focus: Industrials (27% of portfolio).
·Fund cadence: ~4Y between vintages · last raise 2024.

Sector breakdown

22 companies

Industrials

6 · 27%

Mobility

4 · 18%

Construction

3 · 14%

Business Services

3 · 14%

Aerospace & Defence

1 · 5%

Healthcare

1 · 5%

Telecom

1 · 5%

Pharma

1 · 5%

Geography breakdown

5 geographies

Germany

17 · 77%

Italy

2 · 9%

Spain

1 · 5%

France

1 · 5%

Switzerland

1 · 5%

Key facts

HQMunich, Germany

Founded2009

Websitedubag.eu

Recent exits

DUBAG Group sold ATOZ Facility Solutions to HOWOGE in 2024 after 2 years.

DUBAG Group sold Holzwerke Pfarrkirchen (Lignopan) to DEBA Group in 2023 after 3 years.

DUBAG Group sold Scheven to Diringer & Scheidel in 2020 after 3 years.

DUBAG Group sold Schwinn to Private investor in 2020 after 5 years.

Coverage notes

3 funds tracked, 22 portfolio companies (15 active · 7 realized). Verified weekly from public filings and deal announcements.

Funds & portfolio

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

3 funds

Fund

Strategy

Vintage

Size

Assets

Exits

Lenbach Equity Opportunities III

Turnaround2024€80M8 assets

Turnaround

2024 · 2yr

€80M

–

Unrealized

8 held

Company	Entry
Atlix Industrials · Germany	2025
Ceratech Group (Ampack and Osgood) Industrials · Germany	2024
Erftcarbon Industrials · Germany	2025
H.k.o. Construction · Germany	2026
HTSP (Holcim Technical Solutions and Products) Aerospace & Defence · Germany	2026
ItalPresseGauss Mobility · Italy	2026
PronoKal Group Healthcare · Spain	2025
Zenith (JTEKT European Automotive Steering) Mobility · France	2026

Lenbach Equity Opportunities II

Turnaround2019€40M6 assets2 exits

Turnaround

2019 · 7yr

€40M

Unrealized

6 held

Company	Entry
Catensys Mobility · Germany	2022
Emitec Technologies Mobility · Germany	2023
Eurovision Services Telecom · Switzerland	2023
GfR Business Services · Germany	2019
Promedi Business Services · Germany	2023
Spica Industrials · Italy	2021

Realized

2 exits

Company	Entry	Exit	Type	Buyer	MOIC
ATOZ Facility Solutions Business Services · Germany	2022	2024	Trade Sale	HOWOGE	–
Holzwerke Pfarrkirchen (Lignopan) Construction · Germany	2020	2023	Trade Sale	DEBA Group	–

Lenbach Equity Opportunities IActive

Evergreen20171 assets5 exits

Evergreen

2017 · 9yr

–

Unrealized

1 held

Company	Entry
epsotech Industrials · Germany	2014

Realized

5 exits

Company	Entry	Exit	Type	Buyer	MOIC
IDC (International Detergent Compounds) Industrials · Germany	2010	2012	Trade Sale	Warwick Chemicals	–
Lomapharm Pharma · Germany	2013	2018	Trade Sale	Daicel Corporation	–
MMC Studios TMT · Germany	2013	2019	Secondary	Novum Capital	–
Scheven Construction · Germany	2017	2020	Trade Sale	Diringer & Scheidel	–
Schwinn Consumer · Germany	2015	2020	Secondary	Private investor	–

Frequently asked questions

What investment strategy does DUBAG Group focus on?: DUBAG Group focuses on Buyout, Growth strategies in the private equity space.
How many portfolio companies does DUBAG Group have?: DUBAG Group has 15 active portfolio companies and 7 completed exits and 3 funds tracked on GP Intel.
Where is DUBAG Group headquartered?: DUBAG Group is headquartered in Munich, Germany.
When was DUBAG Group founded?: DUBAG Group was founded in 2009.
What sectors does DUBAG Group invest in?: DUBAG Group invests across Industrials, Healthcare, Business Services, TMT, Consumer.
What are DUBAG Group's recent exits?: Recent realized exits by DUBAG Group include: ATOZ Facility Solutions (2024) to HOWOGE; Holzwerke Pfarrkirchen (Lignopan) (2023) to DEBA Group; Scheven (2020) to Diringer & Scheidel; Schwinn (2020) to Private investor; MMC Studios (2019) to Novum Capital; Lomapharm (2018) to Daicel Corporation; IDC (International Detergent Compounds) (2012) to Warwick Chemicals.