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IK Partners

IK Partners

London, United Kingdom·Founded 1989··ikpartners.com

IK Partners is a pan-European mid-market private equity firm founded in 1989 as Industri Kapital and headquartered in London, with its UK advisory entity IK Investment Partners Limited authorised and regulated by the FCA. The firm invests across Mid Cap, Small Cap, Development Capital and Partnership Fund strategies, focusing on Business Services, Healthcare and Industrials, and manages around EUR 14 billion across more than 200 professionals in offices including London, Stockholm, Hamburg, Paris, Amsterdam and Luxembourg. Wendel acquired a majority stake in IK Partners in 2024.

AUM
€13.8B
Funds
18
vintages 1989–2025
Portfolio
97
Exits
138

IK Partners is a London buyout firm with €13.8B AUM, 97 active companies and 138 exits.

Key takeaways
  • ·43 exits in the last 5 years · consistent DPI cadence.
  • ·Average hold across 138 realized deals: 5 years.
  • ·Top sector focus: Industrials (26% of portfolio).
  • ·Fund cadence: ~2Y between vintages · last raise 2025.

Sector breakdown

235 companies
Industrials
62 · 26%
Business Services
37 · 16%
Consumer
31 · 13%
TMT
24 · 10%
Healthcare
20 · 9%
Financials
14 · 6%
Construction
9 · 4%
MedTech
5 · 2%

Geography breakdown

17 geographies
France
66 · 28%
Sweden
46 · 20%
Germany
35 · 15%
Netherlands
23 · 10%
UK
16 · 7%
Norway
13 · 6%
Belgium
9 · 4%
Finland
9 · 4%

Key facts

HQLondon, United Kingdom
Founded1989
Employees200+

Recent exits

Sofia Developpement

IK Partners sold Sofia Developpement to Corilus in 2026 after 4 years.

Innovad

IK Partners sold Innovad to PAI Partners in 2026 after 5 years.

IK Partners sold MDT Technologies to BU Bregal Unternehmerkapital in 2026 after 6 years.

Acture Group

IK Partners sold Acture Group to Rivean Capital in 2025 after 5 years.

Partners

Dan SoudryManaging Partner, Head of Mid Cap
Kristian Carlsson KemppinenManaging Partner, Head of Small Cap
Rémi ButtiauxManaging Partner, Business Services Lead
Remko HilhorstManaging Partner, Industrials
Christopher MasekCEO

Coverage notes

18 funds tracked, 235 portfolio companies (97 active · 138 realized). Verified weekly from public filings and deal announcements.

Investment team

Senior partners. Hand-checked from public filings and the firm's own site.

Dan Soudry
Managing Partner, Head of Mid Cap · Mid Cap funds. Healthcare sector lead. HEC Paris 1993. 30+ deals
Kristian Carlsson Kemppinen
Managing Partner, Head of Small Cap · Small Cap strategy. Stockholm. Joined IK 2001. Helsinki School of Economics
Rémi Buttiaux
Managing Partner, Business Services Lead · French Mid Cap. Business Services sector. HEC Paris 1999. Ex-Morgan Stanley
Remko Hilhorst
Managing Partner, Industrials · Mid Cap Amsterdam. Industrials sector. 40+ deals. U Amsterdam MA. Harvard Business School PLD 2008
Christopher Masek
CEO · CEO since 2012. Led transformation to multi-strategy pan-European firm. Sciences Po, Yale, KPMG CF Paris

Funds & portfolio

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

18 funds
IK Partnership Fund III
Growth2025€500M3 assets

Unrealized

3 held
CompanyEntry
Octime
Software · France
2024
OCTIME Group
TMT · France
2024
Seventeen Group
Financials · UK
2025
IK Small Cap IV
Buyout2025€2.0B7 assets

Unrealized

7 held
CompanyEntry
Academy Group (DATAPART)
Financials · Germany
2025
Ascora
Software · Germany
2025
Datapart
Fintech · Germany
2025
Domek Group
Financials · Netherlands
2026
Endrix
Business Services · France
2025
TELL
Business Services · Norway
2025
Trustmoore
Financials · NL
2026
IK Strategic Opportunities I
Buyout2024€505M1 assets

Unrealized

1 held
CompanyEntry
Yellow Hive
Financials · Netherlands
2024
IK X (Mid Cap)
Buyout2024€3.3B14 assets

Unrealized

14 held
CompanyEntry
BOMA
Business Services · Norway
2024
Dains Accountants
Business Services · UK
2025
Driescher
Industrials · Germany
2024
Eres
HR Tech · France
2024
Eurobio Scientific
MedTech · France
2024
Eurofeu
Construction · France
2024
Francks Kylindustri
Industrials · Sweden
2025
Kooi
TMT · Netherlands
2024
Octime
HR Tech · France
2024
Rhetores Finance
Financials · France
2025
Selatek
Business Services · Sweden
2026
Sterimed
MedTech · France
2025
Sterimed Group
Healthcare · France
2025
Trusec
TMT · Sweden
2021
IK Partnership Fund II
Growth2022€335M9 assets

Unrealized

9 held
CompanyEntry
A-safe
Industrials · UK
2024
FCG Group (now Advisense)
Financials · Netherlands
2022
GEDH (Groupe Européen de Données de l'Habitat)
TMT · France
2022
Ipsum Utilities
Industrials · UK
2023
Muepro
Industrials · Germany
2022
Safic-Alcan
Industrials · France
2022
Unither
Pharma · France
2023
Unither Pharmaceuticals
Pharma · France
2023
Wishcard
Consumer · France
2022
IK Small Cap IIIHarvesting
Buyout2021€1.2B29 assets2 exits

Unrealized

29 held
CompanyEntry
Advisense
Business Services · Sweden
2022
BIOBank
Biotech · France
2024
Blanchon
Construction · France
2021
Blanchon Group
Construction · France
2021
Checkmate Fire
Business Services · UK
2024
Dals
Business Services · UK
2021
Defibrion
Healthcare · Netherlands
2024
HSL Compliance
Industrials · UK
2025
Ipsum Group
Industrials · UK
2023
Kestrel Capital
Business Services · Ireland
2025
KIS
Industrials · Norway
2024
Kran og Industri Service
TMT · Norway
2024
Linxea
Business Services · France
2023
Lohoff
Business Services · Germany
2025
MMS
Business Services · France
2023
MMS Group
Industrials · France
2023
NEVERHACK (Pr0ph3cy)
TMT · France
2023
Plastiflex
Healthcare · Belgium
2021
Plus que PRO
Business Services · France
2022
Qconcepts
Business Services · Netherlands
2024
Remazing
Business Services · Germany
2022
Responda Group
Business Services · Sweden
2023
Sansidor
Industrials · Netherlands
2024
Schwingshandl
Industrials · Austria
2024
Sitevision
Business Services · Sweden
2022
Skill&You
Education · France
2021
Stein HGS
Business Services · Germany
2022
Tecomatic
Industrials · Sweden
2025
Veldeman Group
Industrials · Belgium
2023

Realized

2 exits
CompanyEntryExitTypeBuyerMOIC
Pr0ph3cy Group
TMT · France
20212023SecondaryCarlyle–
Sofia Developpement
HealthTech · France
20222026Trade SaleCorilus–
IK IX (Mid Cap)Harvesting
Buyout2020€2.9B14 assets2 exits

Unrealized

14 held
CompanyEntry
Advania
IT Services · Iceland
2021
Batisanté
Business Services · France
2022
Cinerius Financial Partners
Financials · UK
2024
GoodLife Foods
Consumer · Netherlands
2023
iad
TMT · France
2021
iad Group
Business Services · France
2021
IG&H
TMT · Netherlands
2021
Kersia
Healthcare · France
2020
Medica Group
Healthcare · France
2023
MÜPRO
Industrials · Germany
2022
Questel
LegalTech · France
2020
Renta Group
Industrials · Finland
2022
Skill & You
Education · France
2021
Truesec
TMT · Sweden
2021

Realized

2 exits
CompanyEntryExitTypeBuyerMOIC
CONET Group
TMT · Germany
20212023SecondaryCoquet-Reinier family / Holding Reinier–
Innovad
Consumer · Belgium
20212026SecondaryPAI Partners–
IK Partnership Fund IHarvesting
Growth2019€300M6 assets

Unrealized

6 held
CompanyEntry
Formue
Financials · Norway
2021
iM Global Partner
Financials · France
2021
LAP-Laser
MedTech · Germany
2019
Marle Group
Healthcare · France
2019
Third Bridge
Business Services · UK
2021
Vivalto Santé
Healthcare · France
2021
IK Small Cap IIHarvesting
Buyout2018€550M3 assets15 exits

Unrealized

3 held
CompanyEntry
EQQO
Consumer · Sweden
2020
Forthglade
Consumer · UK
2020
Infradata
Cybersecurity · Netherlands
2018

Realized

15 exits
CompanyEntryExitTypeBuyerMOIC
2Connect
Industrials · Netherlands
20182022SecondaryRivean Capital–
Acture Group
Business Services · Netherlands
20202025SecondaryRivean Capital–
Ascentiel Groupe
InsurTech · France
20212024SecondaryCobepa–
Bahr Modultechnik
Industrials · Germany
20182022Trade SaleIMI plc–
BST
Industrials · Sweden
20192021SecondaryNorvestor–
BST Group Nordic
Industrials · Sweden
20192021SecondaryNorvestor–
Carspect
Business Services · Sweden
20182024Trade SaleTUV SUD–
GeoDynamics
TMT · Belgium
20202025SecondaryBlinqx–
Mabtech
Healthcare · Sweden
20192024SecondaryEQT Healthcare Growth–
Mecenat
AdTech · Sweden
20212024SecondaryInflexion–
NetCo Group
Industrials · France
20192021SecondaryArdian–
Quanos
TMT · Germany
20182023SecondaryKeensight Capital–
Recocash
Business Services · France
20192022SecondaryQualium Investissement–
Valoria Capital
Financials · France
20212023SecondaryTA Associates–
Yellow Hive
Financials · Netherlands
20202024Continuation VehicleIK Strategic Opportunities I–
IK VIII (Mid Cap)Harvesting
Buyout2016€1.9B6 assets20 exits

Unrealized

6 held
CompanyEntry
Alanta Health Group
Healthcare · Germany
2016
Euro Cater
Business Services · Denmark
2016
LAP Group
Healthcare · Germany
2019
Ondal Medical Systems
MedTech · Germany
2020
Optimum Group
Industrials · Netherlands
2018
Zytoservice
Pharma · Germany
2016

Realized

20 exits
CompanyEntryExitTypeBuyerMOIC
Aspia
Business Services · Sweden
20182023SecondaryVitruvian Partners–
Cérélia Group
Consumer · France
20152020SecondaryArdian–
CID Lines
Healthcare · Belgium
20162020Trade SaleEcolab Inc.–
Colisée
Healthcare · France
20172020SecondaryEQT Infrastructure V + CDPQ–
Ellab
Industrials · Denmark
20162019SecondaryEQT–
Eres Group
HR Tech · France
20192024SecondaryEurazeo–
KLINGEL Medical Metal
MedTech · Germany
20182023Trade SaleElos Medtech (TA Associates)–
LINXIS Group
Industrials · France
20172022Trade SaleHillenbrand Inc. (NYSE: HI)–
Løgismose
Consumer · Denmark
20152023SecondaryHalberg A/S–
Mademoiselle Desserts
Consumer · France
20182024Trade SaleEmmi Group (Swiss)–
Marle Group
Healthcare · France
20162019SecondaryDentressangle–
MDT Technologies
Industrials · Germany
20202026SecondaryBU Bregal Unternehmerkapital–
Netel
Business Services · Sweden
20162025IPOIPO (Nasdaq Stockholm)–
Nomios Group
TMT · France
20192023SecondaryKeensight Capital–
Pinard Beauty Pack
Industrials · France
20172024Trade SaleBluegem Capital + AREV Partners–
Questel
LegalTech · France
20182020SecondaryIK IX + Eurazeo–
Schock
Industrials · Germany
20162021SecondaryTriton Fund V–
Signature Foods
Consumer · Netherlands
20162021SecondaryPamplona Capital–
Visolit
TMT · Norway
20162021Trade SaleAdvania (Goldman Sachs AM)–
VPS
Industrials · UK
20132021SecondaryFremman Capital–
IK Small Cap IRealized
Buyout2015€277M2 assets11 exits

Unrealized

2 held
CompanyEntry
coin4 Solutions (Incendia Group)
TMT · Sweden
2017
svt-Gruppe
Construction · Germany
2015

Realized

11 exits
CompanyEntryExitTypeBuyerMOIC
Aposan
Healthcare · Germany
20162020Trade SaleSanté Cie (Ardian)–
Auxiga Group
Business Services · France
20152019SecondaryAndera Partners (Winch Capital 4)–
Domia Group
Consumer · France
20182024SecondaryCinven–
Izium Group
Business Services · France
20162017Trade SaleComdata (Carlyle)–
Messerschmitt Systems
TMT · Germany
20172024Trade SaleASSA ABLOY–
OPEN (OpenSolution)
TMT · Sweden
20162024Trade SaleUndisclosed–
Studienkreis
Education · Germany
20172023Trade SaleGoStudent–
svt Group
Industrials · Germany
20152018SecondaryErgon Capital Partners III–
TCM Group
Consumer · Denmark
20162017IPONasdaq Copenhagen–
Third Bridge
Business Services · UK
20172021SecondaryAstorg–
Touristry
Hospitality · Sweden
20162018Trade SaleTourism Group Holding (TGH)–
IK VII (Mid Cap)Realized
Buyout2013€1.4B0 assets9 exits

Realized

9 exits
CompanyEntryExitTypeBuyerMOIC
Ampelmann
Industrials · Netherlands
20132025Trade SaleStandard Investment–
Cérélia
Consumer · France
20152020SecondaryArdian–
Evac Group
Industrials · Finland
20142017SecondaryBridgepoint–
Exxelia
Aerospace & Defence · France
20142023Trade SaleHEICO (NYSE)–
Hansen Protection
Industrials · Norway
20132021Trade SaleSurvitec (Onex)–
Logismose Meyers
Consumer · Denmark
20152023Trade SaleHalberg + WSH–
Ramudden
Business Services · Sweden
20142017SecondaryTriton Partners–
Transnorm
Industrials · Germany
20142018Trade SaleHoneywell (NYSE)–
VPS (Veritas Petroleum Services)
Energy · Netherlands
20132021SecondaryFremman Capital–
IK 2007Realized
Buyout2007€1.7B3 assets17 exits

Unrealized

3 held
CompanyEntry
Savena
Consumer · France
2011
Sfinc
Industrials · Belgium
2011
Unipex
Industrials · France
2012

Realized

17 exits
CompanyEntryExitTypeBuyerMOIC
Actic
Healthcare · Sweden
20122017IPO––
Agros Nova
Consumer · Poland
20102015Trade SaleMaspex-GMW–
Colosseum Dental
Healthcare · Norway
20102017Trade SaleJacobs Holding AG–
Doedjins International
Industrials · Netherlands
20112020Trade SaleVydraulics–
EPiServer
TMT · Sweden
20102014SecondaryAccel-KKR–
Etanco
Construction · France
20082011Secondary3i–
Europe Snacks
Consumer · France
20102013SecondaryApax Partners–
Flabeg
Industrials · Germany
20082013SecondarySun & Life LLC, a subsidiary of ACWA Holding Company–
GHD
Healthcare · Germany
20102014SecondaryNordic Capital–
Hansa Group
Industrials · Germany
20112013Trade SaleOras Group and Franke–
Minimax Viking
Construction · Germany
20062014SecondaryKirkbi A/S and Intermediate Capital Group–
Schenck Process
Industrials · Germany
20072017SecondaryBlackstone–
Solina Group
Consumer · UK
20112015SecondaryArdian Mid Cap Buyout–
Trigo Group
Industrials · France
20112016SecondaryArdian Mid Cap Buyout–
Unipex Group
Industrials · UK
20122015–––
Vemedia
Consumer · Netherlands
20122016SecondaryCharterhouse Capital Partners–
Vistra Group
Consumer · Luxembourg
20092015SecondaryBaring Private Equity Asia–
IK 2004Realized
Buyout2004€825M0 assets10 exits

Realized

10 exits
CompanyEntryExitTypeBuyerMOIC
Attendo
Healthcare · Sweden
20072015IPO––
Axtone
Industrials · Poland
20082017Trade SaleITT Inc.–
Cerba European Lab
Healthcare · France
20062010SecondaryPAI Partners–
DYWIDAG Systems
Construction · Germany
20052007SecondaryCVC Capital Partners–
ELFA
TMT · Sweden
20062008Trade SaleDaetwyler–
Kid Interiør
Business Services · Norway
20052009Trade SaleDnB NOR Bank ASA–
Magotteaux
Industrials · Belgium
20072011Trade SaleSigdo Koppers–
Moventas
Industrials · Finland
20072011Trade SaleClyde Blowers Group–
Prevesta
Financials · Sweden
20052007Trade SaleBlock Watne Gruppen ASA–
SIA Group
Consumer · France
20052009SecondaryVermeer Capital–
IK 2000Realized
Buyout2000€2.1B0 assets19 exits

Realized

19 exits
CompanyEntryExitTypeBuyerMOIC
Alfa Laval
Consumer · Sweden
20002005SecondarySwedish and international institutional investors–
Ceva Santé Animale
Pharma · France
20032007MBOManagement + Euromezzanine + Natexis–
CPS Color
TMT · Finland
20002008SecondaryNordic Capital–
Dataphone
Telecom · Sweden
20012008Trade SaleIP-Only Telecommunications AB and Blixtvik AB–
Dyno Nobel
Industrials · Australia
20002005SecondaryMacquarie Bank-led consortium of institutional investors–
Eltel Networks
Telecom · Sweden
20012007Secondary3i–
Europris
Consumer · Norway
20042012SecondaryNordic Capital–
Fortex
TMT · US
20002005SecondaryABN AMRO Capital–
Gardena
Consumer · Germany
20022007Trade SaleHusqvarna Group–
Groupe Fives-Lille
Industrials · France
20012004SecondaryBarclays Private Equity France–
Idex
ClimateTech · France
20042011SecondaryCube Infrastructure–
Kwintet
Industrials · Sweden
20052015SecondaryConsortium led by Michael Hauge Sørensen and Christian Dyvig–
Labeyrie Group
Consumer · France
20022004Trade SaleSÍF hf.–
Laho Equipement
Industrials · France
20002005SecondaryBarclays Private Equity–
Sport Group
Industrials · Germany
20062015SecondaryEquistone Partners Europe–
Suomen Lähikauppa
Consumer · Finland
20052012SecondaryTriton III–
Sydsvenska Kemi
Industrials · Sweden
20012005SecondaryPAI Partners–
Wehkamp
Consumer · Netherlands
20062008MBOAd Scheepbouwer, Paul Nijhof and Berend van der Maat–
Welzorg
Healthcare · Netherlands
20022011Trade SaleLouwman Group–
IK 1997Realized
Buyout1997€750M0 assets12 exits

Realized

12 exits
CompanyEntryExitTypeBuyerMOIC
Arca Systems
Industrials · Sweden
19982005Trade SaleSchoeller Wavin Systems–
Continental Bakeries
Consumer · Netherlands
19992006SecondaryNPM Capital–
Dynea
Industrials · Norway
19992014–––
Elektrokoppar
Industrials · Sweden
19972007Trade SaleLiljedahlsbolagen–
F Group
Consumer · Denmark
20012006Trade SaleDSGi plc–
i-Center
Business Services · Germany
19982001–––
Intrum Justitia
Business Services · Sweden
20022005SecondarySwedish and international institutional investors–
Kongsberg Automotive
Mobility · Norway
19992001SecondaryFSN Capital–
MacGregor
Industrials · Sweden
19982005Trade SaleKone Corporation–
Oriflame
Industrials · Sweden
19992006SecondarySwedish and international institutional investors–
Paroc
Construction · Finland
19992003SecondaryBanc of America Equity Partners–
Superfos
Industrials · Denmark
19992011Trade SaleRPC Group Plc–
IK 1994Realized
Buyout1994€250M0 assets9 exits

Realized

9 exits
CompanyEntryExitTypeBuyerMOIC
Addum
Industrials · Sweden
19962000Trade SaleGeveke–
Amas
Logistics · Netherlands
19952001Trade SaleTMI–
Consolis
Construction · Finland
19972005Trade SaleBonna Sabla–
Ellos
E-commerce · Sweden
19951997Trade SaleLa Redoute–
Enermet Group
TMT · Finland
19992006Trade SaleBayard Group–
KCI Konecranes
Industrials · Finland
19941996IPO––
Nobia
Consumer · Sweden
19962004SecondarySwedish and international institutional investors–
Pieters
Agriculture · Belgium
19982000Trade SaleFjord Seafood ASA and Domstein ASA–
VSM Group
TMT · Sweden
19972006SecondaryAffiliates of Kohlberg Management IV L.L.C.–
IK 1989Realized
Buyout1989€108M0 assets12 exits

Realized

12 exits
CompanyEntryExitTypeBuyerMOIC
Crisplant Industries
Industrials · Denmark
19921999Trade SaleFKI Group–
CSE Oxford
Education · UK
19901997SecondaryClose Investment Management–
Graphium
Business Services · Sweden
19901993IPO––
Guldfynd
Consumer · Sweden
19932001Trade SaleAlbrekts Guld–
Hjem-Is Europa
Business Services · Denmark
19921997Trade SaleSchöller–
Idesta
Industrials · Sweden
19891999Trade SaleColdator–
Liber
Education · Sweden
19901993Trade SaleWolters Kluwer–
Lindex
Industrials · Sweden
19931995IPO––
Lithells
Consumer · Sweden
19941997Trade SaleAtria–
Liva Bil
Financials · Norway
19911993IPO––
NYGE Aero
Industrials · Sweden
19901999Trade SaleSaab–
Partena
Business Services · Belgium
19921995Trade SaleSodexo–

About IK Partners

IK Partners is a British private equity and investment platform with €13.8 billion of assets under management as of December 2024, headquartered in London. The firm operates across multiple alternative strategies, with capital deployed into European businesses across industrials, business services, consumer, TMT, healthcare and financials.

Investment thesis

IK Partners operates across complementary alternative investment strategies, deploying capital into European businesses across industrials, business services, consumer, TMT, healthcare and financials. The multi-strategy platform enables diversified capital deployment across the business lifecycle from venture and growth equity to mid-cap buyouts, with capital sourced from institutional limited partners and selective family-office capital across the United Kingdom and broader European market.

Recent activity

Recent realised exits include Innovad (consumer, 2026), Sofia Développement (TMT, 2026), Netel (business services, 2025) and Acture Group (business services, 2025). The platform tracks 19 fund vehicles, 82 active portfolio companies and 138 realised exits across the strategy's history.

Frequently asked questions

What investment strategy does IK Partners focus on?
IK Partners focuses on Buyout, Growth strategies in the private equity space.
How many portfolio companies does IK Partners have?
IK Partners has 97 active portfolio companies and 138 completed exits and 18 funds tracked on GP Intel.
Where is IK Partners headquartered?
IK Partners is headquartered in London, United Kingdom.
What is IK Partners's assets under management?
IK Partners manages approximately €13.8B in assets under management.
When was IK Partners founded?
IK Partners was founded in 1989.
What sectors does IK Partners invest in?
IK Partners invests across Business Services, Healthcare, Industrials.
What are IK Partners's recent exits?
Recent realized exits by IK Partners include: Sofia Developpement (2026) to Corilus; Innovad (2026) to PAI Partners; MDT Technologies (2026) to BU Bregal Unternehmerkapital; Acture Group (2025) to Rivean Capital; GeoDynamics (2025) to Blinqx; Netel (2025) to IPO (Nasdaq Stockholm); Ampelmann (2025) to Standard Investment; Ascentiel Groupe (2024) to Cobepa.
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Last updated August 2026 · Sourced from public filings · Report an issue