Small-cap succession: the segment nobody covers

Why the gap exists

Institutional private equity funds have a minimum ticket size driven by fund economics — below roughly EUR 5m EBITDA the management effort per euro invested stops making sense for them. Strategic buyers acquire selectively and usually integrate. Brokers earn a percentage, so small transactions get the least attention.

The result is a structurally underserved segment of healthy companies whose owners are running out of time.

Our buy-box in plain numbers

We only look at companies that fit a narrow, published profile. If your business matches it, a General Partner gets back to you personally with a qualified reply. If it does not, we say so instead of running a process.

• EBITDA between EUR 0.5m and EUR 5m, sustainable and documented
• B2B services: facility management, staffing and personnel services, IT services and managed services, logistics services
• Recurring or contract-based revenue, diversified customer base
• Germany-wide — headquarters in Hamburg, deals nationwide
• Majority stakes; full exit or staged handover both possible
• Not in scope: B2C retail, pure consulting built around one person, pre-revenue or turnaround situations

What we pay attention to

• Recurring or contract-based revenue rather than project spikes
• Customer concentration — no single client dominating the book
• A second management layer, or a credible path to one
• Clean, plausible accounts; we do not need perfection, we need reality

How a transaction runs with us

• Step 1: you send key figures. We come back with a clear yes or no.
• Step 2: confidential first conversation with one of the three General Partners — no intermediaries.
• Step 3: indicative offer based on your figures, including the intended structure.
• Step 4: confirmatory due diligence, limited to what is genuinely decision-relevant.
• Step 5: signing and closing. We buy with committed fund capital, so financing is not a condition that can collapse late.