Saturnus Capital

Joscha Böhm and Philipp Schweizer serve as the firm's partners and appear to jointly make all investment and portfolio-management decisions. Böhm has 21 years of private equity experience across international firms, while Schweizer spent 11 years in private equity, M&A, and transaction services. No separate investment committee or external advisory board is disclosed.

Saturnus does not publicly describe a proprietary sourcing model. Given its focus on succession-driven and carve-out transactions in the German and Swiss Mittelstand, deal flow likely depends on the partners' personal networks, relationships with family business owners, and intermediaries in the DACH region. The firm's concentrated sector focus — healthcare, business services, consumer services, IT, and industrial production — may also generate repeatable origination patterns.

Neither. Saturnus describes itself as an owner-managed investment company — a "Beteiligungsgesellschaft" — deploying capital without a disclosed external limited partner base. It does not market itself as a family office, nor does it follow a blind-pool fund model with institutional investors. This deal-by-deal structure gives the partners discretion and permanence not typical of a fixed-life fund.

All available information points to direct, majority-control investments in operating companies. Saturnus has not disclosed any fund-of-funds activity or limited partner commitments to external managers.

Saturnus targets profitable mid-market companies with revenue above €10 million and EBITDA margins exceeding 10%. The firm does not invest in start-ups or pre-revenue ventures. Its deals center on mature businesses requiring succession solutions, carve-outs from larger corporates, or growth capital for internationalization.

Saturnus names five focus sectors — healthcare, business services, consumer services, IT, and industrial production — and has not flagged any explicit exclusions. However, its stated criteria, including a profitability requirement and a DACH geographic constraint, likely rule out pre-revenue technology, natural resources, and most financial services.

Saturnus has not disclosed any co-investment activity alongside other general partners. Its website and public materials present each portfolio company as a standalone majority acquisition, with no mention of club deals, syndicates, or passive minority stakes taken alongside other sponsors.