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.
Funds & 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 |
|---|---|---|---|
| Atlix | Industrials | Germany | 2025 |
| Ceratech Group (Ampack and Osgood) | Industrials | Germany | 2024 |
| Erftcarbon | Industrials | Germany | 2025 |
| H.K.O. | Industrials | Germany | 2026 |
| HTSP (Holcim Technical Solutions and Products) | Industrials | Germany | 2026 |
| ItalPresseGauss | Industrials | Italy | 2026 |
| PronoKal Group | Healthcare | Spain | 2025 |
| Zenith (JTEKT European Automotive Steering) | Mobility | France | 2026 |
Lenbach Equity Opportunities IITurnaround2019 · 7yr€40M6 active · 2 realized
Unrealized
6 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Catensys | Industrials | Germany | 2022 |
| Emitec Technologies | Industrials | Germany | 2023 |
| Eurovision Services | TMT | Switzerland | 2023 |
| GfR | Business Services | Germany | 2019 |
| Promedi | Business Services | Germany | 2023 |
| SPICA | Industrials | Italy | 2021 |
Realized
2 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| ATOZ Facility Solutions | Business Services | Germany | 2022 | 2024 | Trade Sale | – | |
| Holzwerke Pfarrkirchen (Lignopan) | Industrials | Germany | 2020 | 2023 | Trade Sale | – |
Lenbach Equity Opportunities IEvergreen2017 · 9yr1 active · 5 realized
Unrealized
1 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| epsotech | Industrials | Germany | 2014 |
Realized
5 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| IDC (International Detergent Compounds) | Industrials | Germany | 2010 | 2012 | Trade Sale | – | |
| Lomapharm | Healthcare | Germany | 2013 | 2018 | Trade Sale | – | |
| MMC Studios | TMT | Germany | 2013 | 2019 | Secondary | – | |
| Scheven | Industrials | Germany | 2017 | 2020 | Trade Sale | – | |
| Schwinn | Consumer | Germany | 2015 | 2020 | Secondary | – |
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