Odewald & Compagnie

The firm was founded in 2007 by former partners of Permira, a global private equity firm. It targets the German Mittelstand, investing in established small and mid-cap companies undergoing succession or strategic transition. The investment focus spans industrial technology, healthcare services, and enterprise software across the DACH region.

Odewald typically writes equity tickets between €10 and 50 million for control or significant minority positions. The firm targets businesses with €10–100 million in revenue. Its capital is deployed through closed-end funds, with a third vehicle raised in 2018, and it takes active board roles post-investment.

The firm's deal flow is built on relationships with Mittelstand entrepreneurs and their advisors, with a strong emphasis on owner-led succession situations. It operates without a public parent, allowing a discreet, partnership-driven sourcing model. The absence of external reporting pressure supports multi-year turnaround plans.

While Germany is the core market, the firm also invests in Austria, Switzerland, and the Benelux countries. Its geographic strategy follows German-speaking industrial and service companies confronting similar succession or operational challenges across borders.

The firm's structure is partnership-funded, which creates natural co-investment flexibility but its primary transactions are control-oriented. There is no publicly disclosed club or co-investment platform, but the firm's Mittelstand scale aligns well with family office direct investors seeking German exposure.