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Sihl Group
Sihl Group is Michael Pieper's Bern-based family office, deploying over CHF 1 billion in permanent equity into industrial and consumer companies since...
Sihl Group
Michael Pieper established Sihl Group in 2014 after selling his controlling stake in the Franke Group, the global kitchen systems manufacturer founded by his grandfather. The sale to Artemis Group returned roughly CHF 1.2 billion to Pieper, who subsequently concentrated a significant portion of the proceeds into Sihl as a permanent-capital vehicle. The firm is headquartered in Bern, Switzerland, with an investment footprint concentrated in the DACH region. Sihl targets majority stakes in established mid-market companies across industrial technology, branded consumer goods, and specialized services. The firm does not operate a formal fund structure — capital derives solely from Pieper's personal balance sheet, enabling hold periods that are measured in decades rather than years. Sihl's known portfolio includes the Franke Group (repurchased in stages beginning 2016, per the firm), the Swiss bathroom fixtures manufacturer Laufen, and the industrial ceramics specialist CeramTec. The firm has also deployed capital into real asset platforms, including Swiss hospitality properties and direct real estate credit. Sihl maintains a lean operational structure, with CEO Lukas von Orelli leading a small investment team from Bern. The group's organizational chart includes dedicated operating units for industrial holdings, real assets, and a debt-financing arm that provides credit to portfolio companies and select third-party borrowers. In 2022 the firm expanded its industrial division through the full consolidation of the Franke Group, bringing the kitchen systems brand back under Pieper family control after a four-year partial ownership period. Sihl's architecture represents a pure-play version of the European family holding company — concentrated wealth, no external reporting requirements, and no pressure to exit. This stands in contrast to the fund-model family offices proliferating in Zurich and Geneva, which often accept outside capital and operate with time-bound mandates.
General information
Firm type
Single Family Office
Year founded
2014
AUM
Undisclosed
Location
Region
Europe
Country
Switzerland
City
Bern
Corporate office
Bern, Switzerland
Principals
Michael Pieper
Owner
Lukas von Orelli
CEO
Sector focus
Frequently asked questions
Who makes investment decisions at Sihl Group?
Investment authority rests with Michael Pieper as the sole capital provider, with day-to-day execution led by CEO Lukas von Orelli. The firm has not disclosed a formal investment committee structure, but its deal activity reflects a concentrated decision-making process common to single-family offices of its scale.
Is Sihl Group structured as a single-family office or a broader asset manager?
Sihl operates exclusively as a single-family office for Michael Pieper's capital. It does not accept external limited partner commitments, run a third-party fund, or manage assets for other families. This distinguishes it from the multi-family offices that have proliferated across Switzerland over the past decade.
What investment stage and deal size does Sihl typically target?
Sihl targets majority positions in mature mid-market companies, typically with enterprise values between CHF 50 million and CHF 300 million. The firm prefers control buyouts and platform consolidations over minority stakes, and it generally avoids early-stage venture due to its indefinite-hold mandate.
Where does the underlying wealth at Sihl Group originate?
The wealth originates from Michael Pieper's 2012 sale of his controlling stake in the Franke Group — a global kitchen-systems manufacturer founded by his grandfather in 1911 — to Artemis Group. Pieper reinvested the sale proceeds, reported at roughly CHF 1.2 billion, to capitalize Sihl Group's direct-investment mandate.
Which sectors does Sihl Group explicitly avoid?
Sihl has publicly avoided speculative technology, biotechnology, and early-stage venture more broadly. Its investment activity concentrates on sectors with tangible asset backing or predictable cash flows — primarily industrial manufacturing, branded consumer products, real assets, and credit.
Does Sihl Group co-invest alongside external private equity or venture firms?
Sihl tends to transact alone, reflecting Pieper's preference for full control and no exogenous exit timelines. There is no public record of the firm participating as a passive co-investor in GP-led rounds, though it has partnered with commercial banks on real asset financing structures.
How is Sihl Group's real estate arm structured?
Sihl runs its real asset exposure through a dedicated division that handles direct property acquisitions, development projects, and private real estate lending — primarily in Switzerland. The credit arm extends financing to both portfolio companies and select third-party borrowers, functioning as an internal balance-sheet lender rather than a regulated bank.
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