NEXX Capital
NEXX Capital is a Frankfurt-based mid-market private equity firm founded in 1991 as HQ Equita, the direct buyout arm of the Harald Quandt family's HQ Capital, and rebranded to NEXX Capital in April 2025. It backs established German-speaking (DACH) Mittelstand companies in industrial technology, business and IT services, software and healthcare through succession, growth and repositioning transactions. In a 2024 GP-led deal, Verdane acquired a significant minority stake in the firm's Fund V and in the management company. Over more than three decades it has completed over 45 investments including add-ons and raised roughly EUR 1 billion of cumulative commitments across five fund generations.
Key facts
Recent exits
Coverage notes
2 funds tracked, 8 portfolio companies (5 active · 3 realized). Verified weekly from public filings and deal announcements.
Sector breakdown
8 companiesFunds & portfolio
Every fund NEXX Capital has raised, with its portfolio companies. Hand-checked from public filings.
NEXX Capital VBuyoutHarvesting2019 · 7yr€308M4 active · 1 realized
Unrealized
4 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Software |  Germany | 2019 | |
| Industrials | Germany | 2020 | |
| Mobility | Germany | 2018 | |
| Industrials | Germany | 2018 |
HQ Equita IIIBuyoutHarvesting2007 · 19yr€315M1 active · 2 realized
Unrealized
1 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Business Services | Germany | 2009 |
Germany· Entry 2009Realized
2 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Industrials | Germany | 2011 | 2015 | Trade Sale | Poly-Clip System | – | |
| Consumer | Germany | 2010 | 2016 | Secondary | IK Investment Partners | – |
About NEXX Capital
NEXX Capital is a three-decade German Mittelstand specialist with approximately €1 billion cumulatively invested across 35 plus SMEs since 1991, headquartered in Frankfurt am Main with registered office in Bad Homburg. The firm was founded in 1991 as HQ Equita before rebranding to NEXX Capital, and operates as an independent partner-owned mid-market PE firm with a strategic partnership with growth-buyout firm Verdane since 2023.
Investment thesis
NEXX Capital deploys capital through multiple closed-end funds (the Beteiligungen series, latest 'V'), targeting DACH mid-market buyout with majority or significant-minority stakes in established SMEs for growth, succession and strategic-repositioning situations, with hands-on operational value creation. Sector focus spans industrial technology, manufacturing, business services, consumer and IT security and cybersecurity. Geographic deployment spans Germany, Austria and Switzerland. The platform is positioned as a long-term succession partner to family-owned businesses.
Recent activity
No confirmed 2024-2026 exit was verified from public sources. Recent acquisitions include the portfolio company indevis combined with Data-Sec to form a full-service cybersecurity group (2025), plus ongoing add-on M&A across portfolio companies. The platform continues active deployment across the DACH Mittelstand succession mandate.
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