# Haspa BGM

Haspa BGM is a Private Equity based in Hamburg, Germany.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Hamburg, Germany
- **Region:** Europe
- **Address:** Hamburg, Germany
- **Founded:** 2003
- **Assets under management:** Undisclosed (Altss estimate below €500M)
- **Website:** haspa-bgm.de
- **LinkedIn:** https://www.linkedin.com/company/haspa-beteiligungsgesellschaft-f%C3%BCr-den-mittelstand-mbh

## Regulatory record

- **Reports private funds:** No

## About

Haspa BGM is a private-equity firm that invests in selected mid-sized companies across the German-speaking region. It currently manages a portfolio of about 20 holdings across diverse sectors and business models. With Haspa Finanzholding as shareholder, it can act flexibly and without fund-term limits, offering tailored equity solutions including mezzanine, minority and majority stakes, and actively supporting portfolio companies.

## Sectors

- Industrial Tech
- Healthcare Services
- Enterprise Software

## People

- Frank Franzke — Managing Director
- Rolf-Peter Stock — Managing Director

## Questions

### Who runs investment decisions at Haspa BGM?

Frank Franzke and Rolf-Peter Stock serve as joint Managing Directors and control investment committee decisions. Both have operated the firm since its 2003 founding. Final credit approval also involves Haspa executive board oversight, given the firm's full ownership by the parent Sparkasse.

### How does Haspa BGM source deal flow?

Deal origination runs primarily through Hamburger Sparkasse's corporate banking network, which serves over 80,000 business clients in the Hamburg metropolitan region. Local relationship managers identify succession situations and strategic repositioning opportunities, referring them internally to Franzke's team. This captive origination channel is the firm's structural advantage — independent GPs cannot replicate it.

### Does Haspa BGM raise external capital or invest exclusively from the Sparkasse balance sheet?

Haspa BGM does not fundraise from external limited partners. All commitments come from Hamburger Sparkasse's balance sheet and affiliated pension trusts. This capital structure permits indefinite hold periods and eliminates fund-life constraints, a feature the firm leverages in succession situations where generational handovers take years to complete.

### What investment structures does Haspa BGM typically use?

The firm executes classic Mittelstand private equity structures: majority buyouts, minority recapitalizations, management buy-ins, and buy-and-build platforms. Deal sizes cluster between €2 million and €15 million in equity, targeting companies with €5 million to €50 million in revenue. Mezzanine instruments and vendor notes frequently supplement equity checks.

### Which geographic regions does Haspa BGM target?

The investment mandate covers northern Germany, with concentration in Hamburg, Schleswig-Holstein, and Lower Saxony. Occasional investments extend into Mecklenburg-Vorpommern and Bremen. The firm deliberately avoids southern Germany and does not invest outside the DACH region.

### How does Haspa BGM handle portfolio company exits?

The firm pursues trade sales to strategic buyers and secondary buyouts to other financial sponsors. Because it invests permanent capital rather than fund-cycle capital, it can time exits around company readiness rather than fund-life deadlines. Holding periods have historically ranged from four to nine years, though the structure permits longer durations when succession transitions require patience.

## Related profiles

- [Hasko Invest](https://altss.com/profile/hasko-invest)
- [Hassad Food](https://altss.com/profile/hassad-food)

---

Last updated: 2026-08-11T15:06:57.816Z

Canonical page: https://altss.com/profile/haspa-bgm

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology