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Friedrich & Wagner Holding
Friedrich & Wagner Holding was established in Germany by Christian Wagner and Bastian Friedrich, who founded and scaled the engineering services company...
Friedrich & Wagner Holding
Friedrich & Wagner Holding was established in Germany by Christian Wagner and Bastian Friedrich, who founded and scaled the engineering services company in-tech. The holding company represents the entrepreneurs' investment vehicle for managing proceeds from the landmark 2022 divestiture of a majority stake in in-tech to Frankfurt-listed private equity firm Deutsche Beteiligungs AG (DBAG), which acquired 70% of the business (per DBAG, 2022). The founders retained a minority interest and continue to govern the holding company alongside their reinvestment activities. The firm operates with a generalist mandate but tilts heavily toward the industrial technology and mobility sectors where its principals have direct operational expertise. The portfolio spans buyout, start-up, and spin-off stages. Known positions include pepper motion GmbH, an electrification partner for commercial truck OEMs, which attracted co-investment from Lennertz & Co, the family office of the Haribo founding family, and the strategic German industrial group Würth. The firm also backs deep-tech hardware, participating in a European Innovation Council Fund co-investment in XSun, a solar-powered unmanned aerial vehicle developer. Real asset exposure runs through prime infinity real estate GmbH in Altomünster, mixed-use holdings via a stake in Obotritia Capital KGaA, and aviation assets held under Maverick Air GmbH. Friedrich & Wagner operates leanly from Germany, using a holding-company structure rather than a blind-pool fund model, which allows permanent capital and flexible hold periods. The May 2022 in-tech transaction provided a liquidity event that both crystallized the founders' wealth and freed operating capacity for new portfolio construction. The management team includes Tobias Wagner, who serves as Managing Director of in-tech and related entities, bridging the holding company and the remaining operating business. The firm's architecture departs from the typical German single-family office by functioning as a principal investment platform with concentrated co-investor relationships rather than a diversified multi-asset allocator. Its deal flow emerges from the founders' deep automotive and industrial networks, with external capital partners brought in on a deal-by-deal basis — a model that mirrors disciplined industrial holding companies more than it does a conventional asset manager.
General information
Firm type
Generalist
Year founded
—
AUM
Undisclosed
Location
Region
Europe
Country
Germany
City
Munich
Corporate office
Munich, Germany
Principals
Christian Wagner
Co-founder and CEO
Bastian Friedrich
Co-founder and Owner
Sector focus
Frequently asked questions
Who runs investment decisions at Friedrich & Wagner Holding?
Co-founders Christian Wagner and Bastian Friedrich govern the investment activities of the holding company. Tobias Wagner, Managing Director of in-tech and related entities, also operates within the group's structure. The principals bring direct operational experience from building the engineering services firm in-tech before its partial sale.
How did the 2022 in-tech sale reshape Friedrich & Wagner Holding?
In May 2022, Deutsche Beteiligungs AG acquired a 70% stake in in-tech from the founders (per DBAG, 2022). The transaction provided a significant liquidity event that transitioned Friedrich & Wagner from a holding company anchored to a single operating business into a more active principal investment platform, with capital available for new mobility and industrial tech deployments.
Does Friedrich & Wagner invest in start-ups or only mature companies?
The firm invests across the full lifecycle. Its portfolio includes early-stage companies — demonstrated by its Series A participation in pepper motion GmbH and its investment in the XSun solar drone project alongside the European Innovation Council Fund — as well as buyout and spin-off transactions in more mature industrial businesses.
Which external co-investors does Friedrich & Wagner work with?
The firm co-invests alongside a tight network of industrial and family-office partners. Lennertz & Co, the family office associated with the Haribo founders, joined the pepper motion Series A round. The Würth Group, the global industrial distributor, participated as a strategic co-investor in the same deal. For deep-tech ventures, the European Innovation Council Fund has appeared alongside Friedrich & Wagner.
What real asset exposure does Friedrich & Wagner hold?
The portfolio holds commercial real estate through prime infinity real estate GmbH in Altomünster, Germany, and mixed-use property via a stake in Obotritia Capital KGaA. The firm also owns aviation assets through Maverick Air GmbH, though the specific fleet composition is not publicly detailed.
Where does Friedrich & Wagner source its deal flow?
Deal flow originates from the founders' deep professional networks in the German automotive, industrial engineering, and technology sectors — relationships built over their tenure scaling in-tech into an engineering services platform serving large industrial OEMs. The firm does not publicly solicit investment opportunities through a broad origination funnel.
Is Friedrich & Wagner structured as a family office or an asset manager?
The firm operates as a principal investment holding company rather than a traditional single-family office or regulated asset manager. There is no evidence of external limited partners committing capital to a pooled fund structure. The group manages founder capital directly, selectively bringing in co-investors on a transaction-by-transaction basis.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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