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Quadriga Capital

Quadriga Capital

Frankfurt, Germany·Founded 1990··quadriga-capital.de

Frankfurt mid-market control-buyout firm operating since around 1990, investing in DACH healthcare, tech-enabled services and smart-industry companies; it has backed more than 150 mid-market businesses across Germany, Austria and Switzerland.

AUM
€851M
Funds
5
vintages 1998–2022
Portfolio
4
Exits
12

Key facts

HQFrankfurt, Germany
Founded1990

Recent exits

Kinetics Group
Industrials2024 · 13yr hold
SCIO Automation
SCIO Automation
Industrials2023 · 4yr hold
GBA Group
GBA Group
Healthcare2021 · 5yr hold
DOREA Familie
Healthcare2019 · 4yr hold

Coverage notes

5 funds tracked, 16 portfolio companies (4 active · 12 realized). Verified weekly from public filings and deal announcements.

Sector breakdown

16 companies
Industrials
10 · 63%
Healthcare
4 · 25%
Business Services
1 · 6%
Consumer
1 · 6%

Funds & portfolio

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

5 funds
Quadriga Capital PE Fund VIBuyout
2022 · 4yr2 active

Unrealized

2 held
Business ServicesGermany· Entry 2023
HealthcareGermany· Entry 2022
Quadriga Capital PE Fund VBuyoutHarvesting
2019 · 7yr1 active · 1 realized

Unrealized

1 held
HealthcareGermany· Entry 2020

Realized

1 exit
SCIO Automation
SCIO AutomationExited 2023
IndustrialsGermany· Entry 2019
Secondaryto
Quadriga Capital PE Fund IVBuyoutRealized
2012 · 14yr€529M0 active · 4 realized

Realized

4 exits
Alicona
AliconaExited 2018
IndustrialsAustria· Entry 2015
Trade Saleto
DOREA FamilieExited 2019
HealthcareGermany· Entry 2015
Trade Saleto
GBA Group
GBA GroupExited 2021
HealthcareGermany· Entry 2016
Secondaryto
M&R AutomationExited 2017
IndustrialsAustria· Entry 2015
Trade Saleto
Quadriga Capital PE Fund IIIBuyoutHarvesting
2006 · 20yr1 active · 3 realized

Unrealized

1 held
IndustrialsGermany· Entry 2007

Realized

3 exits
AHT Cooling SystemsExited 2013
IndustrialsAustria· Entry 2007
Secondaryto
Kinetics GroupExited 2024
IndustrialsGermany· Entry 2011
Trade Saleto
LAPP InsulatorsExited 2015
IndustrialsGermany· Entry 2011
Trade Saleto
Quadriga Capital Fund IIBuyoutRealized
1998 · 28yr0 active · 4 realized

Realized

4 exits
CoventyaExited 2006
IndustrialsFrance· Entry 2000
Secondaryto
Jack Wolfskin
Jack WolfskinExited 2011
ConsumerGermany· Entry 2005
Secondaryto
LEWA
LEWAExited 2009
IndustrialsGermany· Entry 2005
Trade Saleto
Uster TechnologiesExited 2007
IndustrialsSwitzerland· Entry 2003
IPO
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About Quadriga Capital

Quadriga Capital is a long-established DACH mid-market private equity firm with more than €1 billion of assets in active funds as of December 2024 (Fund VI plus prior vintages, more than €6 billion total historic transaction volume), headquartered in Frankfurt. The firm was founded in 1995 by Dr. Andreas Fendel and Max W. Romer (founders who helped establish German PE industry in mid-1980s). Quadriga Capital operates as a founder-led independent partnership.

Investment thesis

Quadriga Capital deploys capital through approximately six flagship funds (Funds I through VI, Fund VI active 2023+ vintage), targeting buy-and-build mid-market growth platforms in DACH as an Article 8 SFDR fund. Sector focus spans healthcare, tech-enabled services and smart industries. Geographic deployment is anchored in DACH-core (Germany, Austria, Switzerland) with a global network for follow-on growth. The 25 plus year DACH mid-market track record combines with embedded sustainability and ESG framework across the value-creation playbook.

Recent activity

Recent realised exits include industrial services (2024). Recent acquisitions include healthcare (United Therapy platform expansion, 2026). The platform continues active deployment of Fund VI across the DACH mid-market mandate. Detailed buyer names and multiple data available on Pro at €29/month.

Investment team

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

Joerg Mugrauer
Managing Partner

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Last updated March 2026 · Sourced from public filings · Report an issue