FairCap

FairCap is permanently capitalized by Discover Capital GmbH, a German family office that also advises the SQUAD funds with roughly EUR 2 billion in assets under advisory. Because the capital is single-anchor and evergreen, FairCap does not operate a traditional fund structure with a fixed life. That means it can hold portfolio companies indefinitely and avoid forced seller timelines, a core differentiator when acquiring complex carve-outs that need multi-year operational rebuilds.

FairCap focuses almost entirely on corporate carve-outs — non-core subsidiaries that large industrial groups are divesting. Sellers have included Lesjöfors AB, Omron Corporation, Flex Ltd., Novomatic AG, and Emil Frey France. The firm presents itself as a reliable, professionally structured buyer for complex separation transactions where speed, confidentiality, and operational capability matter more than the highest price.

FairCap deploys exclusively through direct acquisitions of majority stakes in operating companies. It does not act as a fund-of-funds, does not take minority positions, and has publicly stated it will not invest in startups, banks, biotech, or pure liquidation cases.

Since 2020, FairCap has completed more than 40 M&A transactions and has built a portfolio that currently includes S & P Federnwerk, Stumpp + Schüle, Obitec, and Flauraud. It has also executed exits, notably Electro System s.r.l (carved out in 2024, exited 2025) and AdriaTronics (carved out from Flex in Trieste, subsequently sold as a going concern).

FairCap embeds an in-house operations team into each portfolio company to advance measurable improvements on three axes: employee welfare, environmental footprint, and financial performance. Publicly stated initiatives include CO₂ reduction across Scopes 1–3, waste reduction in production, implementation of the UN Global Compact principles, and deployment of a firm-wide Code of Conduct. The firm calls this a 'transformative sustainability approach' rather than a screening overlay.

Discover Capital GmbH is the anchor investor in FairCap and simultaneously acts as advisor to the SQUAD funds, which have roughly EUR 2 billion in assets under advisory. FairCap itself is a separate Munich-domiciled entity with its own management team and decision-making, but its permanent equity base shares the same family-office lineage as the SQUAD advisory relationship.

FairCap publicly excludes pure liquidation cases, startups, banks, biotech, and minority investments. It also maintains negative screens for weapons, tobacco, and factory farming. Geographically, the firm concentrates on assets with a business focus in Europe, with acquisitions to date concentrated in Germany, Italy, France, and Poland.