Haspa Beteiligungsgesellschaft
Haspa Beteiligungsgesellschaft fuer den Mittelstand (Haspa BGM) is the Hamburg private equity arm of Hamburger Sparkasse, investing since 1998. Owned by Haspa Finanzholding, it operates as a balance-sheet evergreen investor free of fund-term limits, taking majority or minority equity, silent or open, in owner-managed German-speaking Mittelstand companies for succession, growth and buy-out situations.
Key facts
Recent exits
Coverage notes
1 fund tracked, 39 portfolio companies (19 active · 20 realized). Verified weekly from public filings and deal announcements.
Sector breakdown
39 companiesFunds & portfolio
Every fund Haspa Beteiligungsgesellschaft has raised, with its portfolio companies. Hand-checked from public filings.
Haspa BGM EvergreenBuyoutActive1998 · 28yr19 active · 20 realized
Unrealized
19 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Consumer |  Germany | 2011 | |
| Industrials | Germany | 2016 | |
| MedTech | Germany | 2017 | |
| Logistics | Germany | 2019 | |
| Consumer | Germany | 2023 | |
| Industrials | Germany | 2023 | |
| Industrials | Germany | 2021 | |
| Industrials | Germany | 2018 | |
| Software | Germany | 2020 | |
| Industrials | Germany | 2017 | |
| MedTech | Germany | 2019 | |
| Software | Germany | 2011 | |
| Business Services | Germany | 2024 | |
| Business Services | Germany | 2025 | |
| Industrials | Germany | 2022 | |
| Consumer | Germany | 2024 | |
| Healthcare | Germany | 2020 | |
| Aerospace & Defence | Germany | 2025 | |
| Business Services | Germany | 2024 |
Germany· Entry 2011Germany· Entry 2016Germany· Entry 2017Germany· Entry 2019Germany· Entry 2023Germany· Entry 2023Germany· Entry 2021Germany· Entry 2018Germany· Entry 2020Germany· Entry 2017Germany· Entry 2019Germany· Entry 2011Germany· Entry 2024Germany· Entry 2025Germany· Entry 2022Germany· Entry 2024Germany· Entry 2020Germany· Entry 2025Germany· Entry 2024Realized
20 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Industrials | Germany | 2005 | 2022 | Recapitalization | – | ||
| Consumer | Germany | 2010 | 2017 | Trade Sale | – | ||
| Consumer | Germany | 2004 | 2010 | Trade Sale | – | ||
| MedTech | Germany | 2006 | 2014 | MBO | – | ||
| Biotech | Germany | 1998 | 2005 | IPO | – | – | |
| Industrials | Germany | 2014 | 2016 | Secondary | – | ||
| Business Services | Germany | 2007 | 2019 | Recapitalization | – | – | |
| Consumer | Germany | 2004 | 2014 | Trade Sale | – | ||
| Logistics | Germany | 2017 | 2020 | MBO | – | ||
| Industrials | Germany | 2005 | 2018 | Recapitalization | – | – | |
| Construction | Germany | 2005 | 2019 | Recapitalization | – | – | |
| Industrials | Germany | 2005 | 2023 | Trade Sale | – | ||
| Construction | Germany | 2010 | 2013 | Trade Sale | – | ||
| Consumer | Germany | 2014 | 2021 | Trade Sale | – | ||
| Industrials | Germany | 2011 | 2018 | Recapitalization | – | – | |
| Business Services | Germany | 2021 | 2023 | Trade Sale | – | ||
| Industrials | Germany | 2010 | 2014 | Trade Sale | – | ||
| Biotech |  US | 1998 | 2004 | IPO | – | – | |
| AdTech | Germany | 2007 | 2013 | Recapitalization | – | – | |
| Business Services | Germany | 2014 | 2019 | – | – | – |
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About Haspa Beteiligungsgesellschaft
Haspa Beteiligungsgesellschaft (Haspa BGM) is the equity subsidiary of Hamburger Sparkasse AG (Haspa), headquartered in Hamburg. The firm was founded in 1998 as the wholly-owned PE arm of Hamburger Sparkasse within the Haspa Finanzgruppe, and invests a minimum of approximately €2 million equity per deal with approximately 20 active holdings and 50 plus transactions across its lifetime.
Investment thesis
Haspa BGM deploys capital through a balance-sheet and evergreen bank-backed vehicle, targeting private equity flexibility with moderate leverage and a long-term horizon across MBOs, MBIs, succession, growth capital, recapitalisations, spin-offs and turnarounds, ranging from mezzanine to majority and minority stakes. Sector deployment is diversified across the Mittelstand spanning industrials, cleantech and environmental technology, business services, aviation and aerospace services and consumer. Geographic deployment is Northern Germany (Hamburg metropolitan region core). The platform is the savings-bank-backed PE partner for Northern German Mittelstand, offering patient capital and the Sparkassen trust label for succession deals.
Recent activity
Recent realised exits include industrial distribution and motorcycle parts (2024-2025) and heating technology (2023). Recent acquisitions include aerospace services (2026), cleantech and cleaning technology (2025) and industrial services (Sandmaster Group, 2025). The platform continues active deployment across the Northern German Mittelstand mandate. Detailed buyer names and multiple data available on Pro at €29/month.
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Germany·€260MGet the full picture on Haspa Beteiligungsgesellschaft.
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