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Odewald & Compagnie
Berlin-based Odewald & Compagnie targets German Mittelstand buyouts for owner-led succession situations.
Odewald & Compagnie
Odewald & Compagnie launched in 2007 when a group of partners left Permira to build a domestic platform for the German lower mid-market. The firm invests in established Mittelstand companies undergoing generational transition or strategic repositioning, concentrating on Germany, Austria, and Switzerland. Its model rests on control or significant minority positions in businesses with €10–100 million in revenue, where complexity or succession gaps suppress valuations. The firm raised its third fund in 2018 and has since deployed across sectors including industrial technology, healthcare services, and niche software. Deployment centers on growth buyouts and successor-led carve-outs. The firm has backed companies such as avitea Industrieservice, an industrial cleaning and facility management provider, and participated in the turnaround of manufacturing assets where family owners sought operational partners. Odewald structures its investments as equity stakes with active board participation, often installing experienced industry executives as chairman or CEO. Geographically, the portfolio spans the DACH region with selective exposures in Benelux. The firm operates with a lean partnership structure, a model carried over from its Permira origins. Recent activity includes the 2022 investment in a clinical research organization serving European biotech and pharma companies, signaling an appetite for regulated services. Odewald does not publicly disclose assets under management, a posture consistent with several family-owned German private equity groups. What distinguishes Odewald is its hybrid character — a partnership-funded, institutionally disciplined buyout house operating at a scale that family offices find relatable but with a deal pipeline built for control transactions. The firm's Permira pedigree informs its investment process, but its Mittelstand focus and succession-driven sourcing make it structurally closer to a patient family investment office than to a large-cap fund. Governance is concentrated among its founding partners, with no external parent or publicly traded entity shaping its mandate.
General information
Firm type
Private Equity
Year founded
2007
AUM
Undisclosed
Location
Region
Europe
Country
Germany
City
Berlin
Corporate office
Berlin, Germany
Principals
Odewald & Compagnie
Management Company
Sector focus
Frequently asked questions
Who founded Odewald & Compagnie and what is its investment focus?
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.
What defines the firm's investment size and structure?
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.
How does Odewald source its deals?
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.
Is Odewald active outside Germany?
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.
Does Odewald co-invest with family offices or other GPs?
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.
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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