Buyer landscape
Likely buyers · in Germany.
Prepared 2026-08-28 with GP Intel · deterministic scoring, published weights: gp-intel.com/methodology/league-tables
How companies like this sold · 1,747 verified exits: 27% to sponsors, 67% to corporates and platforms, 5% via IPO, 1% other routes. Route shift since 2020: sponsors 23% (was 33%), corporates and platforms 73% (was 58%), IPO 3% (was 7%).
The list: 25 Tier 1 · 0 Tier 2 of 120 matched buyers. A first round of the Tier 1 names plus the expansion buyers covers the demonstrated demand.
Financial buyers · 25
Tier 1 · Very High · score 70+
1. BU Bregal Unternehmerkapital Multi-Asset Continuation Fund SponsorVery High75
32 in Germany · 15 deals 2024–26
AUM €7.0B · BU Bregal Unternehmerkapital Multi-Asset Continuation Fund · 2026 vintage · deploying · check €16-122M
4 platform investments since the 2026 vintage · early in deployment vs its usual 9 per fund.
Backed A.Eberle, 2026 · Industrials, Germany
2. BU Bregal Unternehmerkapital SponsorVery High75
32 in Germany · 14 deals 2024–26
AUM €7.0B · BU Bregal Unternehmerkapital Multi-Asset Continuation Fund · 2026 vintage · deploying · check €16-122M
4 platform investments since the 2026 vintage · early in deployment vs its usual 9 per fund.
Backed A.Eberle, 2026 · Industrials, Germany
3. NORD Holding SponsorVery High75
40 in Germany · 15 deals 2024–26
AUM €5.0B · NORD Holding all inclusive Fitness Continuation Fund · 2026 vintage · deploying
Accelerating: 13 deals in the last 2 years vs 2.5/yr before.
Backed all inclusive Fitness, 2026 · Hospitality, Germany
4. NORD Holding / Pinova Capital SponsorVery High75
37 in Germany · 12 deals 2024–26
AUM €5.0B · NORD Holding all inclusive Fitness Continuation Fund · 2026 vintage · deploying
Accelerating: 10 deals in the last 2 years vs 2.5/yr before.
Backed all inclusive Fitness, 2026 · Hospitality, Germany
5. Deutsche Beteiligungs AG SponsorVery High74
85 in Germany · 9 deals 2024–26
AUM €2.7B · DBAG Solvares Continuation Fund · 2024 vintage · deploying · check €3-20M
9 platform investments since the 2024 vintage · largely deployed vs its usual 8 per fund.
Backed Bug Bounty Switzerland, 2026 · Cybersecurity, Switzerland
6. Triton Partners SponsorVery High74
41 in Germany · 10 deals 2024–26
AUM €18.5B · Triton Fund VI · 2026 vintage · deploying · check €110-825M
3 platform investments since the 2026 vintage · early in deployment vs its usual 11 per fund.
Backed Flender, 2026 · Industrials, Germany
7. Deutsche Beteiligungs SponsorVery High74
80 in Germany · 10 deals 2024–26
AUM €2.7B · DBAG Solvares Continuation Fund · 2024 vintage · deploying · check €3-20M
9 platform investments since the 2024 vintage · largely deployed vs its usual 8 per fund.
Backed Bug Bounty Switzerland, 2026 · Cybersecurity, Switzerland
8. Inflexion SponsorVery High74
5 in Germany · 27 deals 2024–26
AUM €11.0B · Inflexion Buyout Fund VII · 2026 vintage · deploying · check €90-675M
4 platform investments since the 2026 vintage · mid-deployment vs its usual 6 per fund.
Backed Ascend Insurance Holdings, 2026 · Financials, UK
9. DUBAG Group SponsorVery High74
17 in Germany · 8 deals 2024–26
Lenbach Equity Opportunities III · 2024 vintage · deploying · check €2-12M
Accelerating: 7 deals in the last 2 years vs 1.8/yr before.
Backed H.K.O., 2026 · Construction, Germany
10. Paragon Partners SponsorVery High73
38 in Germany · 6 deals 2024–26
AUM €2.4B · Paragon Fund IV · 2023 vintage · deploying · check €24-180M
5 platform investments since the 2023 vintage · mid-deployment vs its usual 10 per fund.
Backed BALDUR-Garten, 2026 · E-commerce, Germany
11. Capmont SponsorVery High73
32 in Germany · 16 deals 2024–26
Capmont Technology Fund · 2024 vintage · deploying · check €2-15M
16 platform investments since the 2024 vintage · largely deployed vs its usual 15 per fund.
Backed Dyneon, 2026 · Industrials, Germany
12. AFINUM Management GmbH SponsorVery High73
24 in Germany · 9 deals 2024–26
AFINUM X Buyout (2026) · 2026 vintage · deploying · check €10-75M
2 platform investments since the 2026 vintage · early in deployment vs its usual 9 per fund.
Backed Fairbanks, 2026 · SaaS, Netherlands
13. Armira SponsorVery High73
23 in Germany · 12 deals 2024–26
AUM €5.0B · Armira III · 2025 vintage · deploying · check €20-150M
8 platform investments since the 2025 vintage · mid-deployment vs its usual 10 per fund.
Backed AVILOO, 2026 · Mobility, Austria
14. bm-t Beteiligungsmanagement Thueringen SponsorVery High73
28 in Germany · 13 deals 2024–26
AUM €465M · Mittelstands-Fonds Thueringen II (MFT II) · 2025 vintage · deploying · check €0-3M
Accelerating: 8 deals in the last 2 years vs 2.5/yr before.
Backed ad hoc energy, 2026 · Energy, Germany
15. BID Equity Continuation Fund I SCSp SponsorVery High73
14 in Germany · 9 deals 2024–26
AUM €800M · BID Equity Continuation Fund I · 2025 vintage · deploying · check €6-45M
Accelerating: 7 deals in the last 2 years vs 2.0/yr before.
Backed Local Brand X, 2026 · AdTech, Germany
16. BID Equity SponsorVery High73
13 in Germany · 7 deals 2024–26
AUM €800M · BID Equity Continuation Fund I · 2025 vintage · deploying · check €6-45M
5 platform investments since the 2025 vintage · largely deployed vs its usual 5 per fund.
Backed Local Brand X, 2026 · AdTech, Germany
17. IK Partners SponsorVery High72
34 in Germany · 52 deals 2024–26
AUM €13.8B · IK Partnership Fund III · 2025 vintage · deploying · check €10-75M
18 platform investments since the 2025 vintage · largely deployed vs its usual 13 per fund.
Bought Domek Group from Capital A Investment Partners, 2026 · Financials, Netherlands
18. IK Partners (IK Small Cap III) SponsorVery High72
32 in Germany · 39 deals 2024–26
AUM €13.8B · IK Partnership Fund III · 2025 vintage · deploying · check €10-75M
18 platform investments since the 2025 vintage · largely deployed vs its usual 13 per fund.
Backed Domek Group, 2026 · Financials, Netherlands
19. IK Partners / GIC / Keensight / Parquest / management SponsorVery High72
32 in Germany · 38 deals 2024–26
AUM €13.8B · IK Partnership Fund III · 2025 vintage · deploying · check €10-75M
18 platform investments since the 2025 vintage · largely deployed vs its usual 13 per fund.
Backed Domek Group, 2026 · Financials, Netherlands
20. Omnes Capital SponsorVery High72
14 in Germany · 11 deals 2024–26
AUM €6.7B · Capenergie 5 · 2024 vintage · deploying · check €41-308M
11 platform investments since the 2024 vintage · mid-deployment vs its usual 15 per fund.
Backed ARX Robotics, 2025 · Aerospace & Defence, Germany
21. Hg SponsorVery High72
19 in Germany · 22 deals 2024–26
AUM €69.0B · Hg Mercury 4 · 2023 vintage · deploying · check €48-360M
24 platform investments since the 2023 vintage · largely deployed vs its usual 8 per fund.
Backed OneStream, 2026 · SaaS, US
22. Inflexion (Partnership Capital III) SponsorVery High72
4 in Germany · 25 deals 2024–26
AUM €11.0B · Inflexion Buyout Fund VII · 2026 vintage · deploying · check €90-675M
Accelerating: 15 deals in the last 2 years vs 5.0/yr before.
Backed Ascend Insurance Holdings, 2026 · Financials, UK
23. Archimedes Partners SponsorVery High72
7 in Germany · 21 deals 2024–26
AUM €9.0B · MED Rise · 2024 vintage · deploying · check €8-60M
18 platform investments since the 2024 vintage · largely deployed vs its usual 9 per fund.
Backed Esperion Therapeutics, 2026 · NULL, NULL
24. Orlando Management SponsorVery High72
17 in Germany · 10 deals 2024–26
AUM €800M · Orlando Capital V · 2024 vintage · deploying · check €5-38M
Accelerating: 6 deals in the last 2 years vs 1.8/yr before.
Backed Kwantum, 2026 · Consumer, Netherlands
25. KGAL SponsorVery High72
9 in Germany · 7 deals 2024–26
AUM €15.0B · KGAL ESPF 6 · 2023 vintage · deploying · check €5-38M
9 platform investments since the 2023 vintage · largely deployed vs its usual 6 per fund.
Backed Grevesmuehlen Battery Storage, 2026 · ClimateTech, Germany
Scores and facts derive from verified deal records only; sample floors and thresholds are published on the methodology page. Figures marked with a tilde are bands, not disclosures.