STEMAS

About STEMAS

STEMAS AG is a German industrial holding company founded in 2003 and headquartered in Munich, Germany. It is a permanent-hold investor, an evergreen holding company rather than a fixed-life fund manager, that acquires majority stakes in mid-market companies. The firm operates without fund vehicles, investing off its own balance sheet as a standing holding company. Capital and assets under management are not publicly disclosed. STEMAS operates an electronics group of subsidiaries alongside additional holdings in fire-protection and specialised engineering, and explicitly does not plan exits: portfolio companies are held permanently and managed for dividends rather than resale.

Investment thesis

STEMAS targets German Mittelstand companies with revenues of roughly €5 to €50 million facing unresolved succession issues, restructuring needs or conglomerate spin-outs. It takes majority control, preferably above 75 percent, with a permanent dividend-oriented holding horizon and no planned exits. Sector focus is specialised B2B manufacturing: electronics and electrical engineering covering electronic manufacturing services, PCB assembly, inductive components and transformers, machinery and plant engineering, and fire-protection technology, across medical, automotive and aerospace end-markets. Geography is Germany, primarily Bavaria. As a balance-sheet permanent-capital holding, its capital base is its own shareholders and principals. The value-creation lever is long-term operational ownership, succession resolution and group-level synergies across its electronics cluster.

Recent activity

STEMAS holds companies across electronics manufacturing and lighting technology, inductive components, automation electronics, medical and avionics electronics, and fire-protection equipment. Consistent with its permanent-hold model, STEMAS does not sell portfolio companies and records no exits by design. The platform continues to acquire majority stakes in German Mittelstand companies facing succession, restructuring or spin-out situations, holding them permanently for dividends. Detailed buyer names and multiple data available on Pro at €29/month.