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Stemas
Stemas AG invests in mid-sized industrial companies, particularly where succession is unresolved, restructuring is needed, or carve-outs from corporations...
Stemas
Stemas AG invests in mid-sized industrial companies, particularly where succession is unresolved, restructuring is needed, or carve-outs from corporations occur. It takes majority stakes and holds permanently with no planned exits. Focus sectors are electronics/electrical engineering, mechanical and plant engineering, and fire protection. Portfolio companies operate independently within the Stemas group while receiving strategic and financing support.
General information
Firm type
Private Equity
Year founded
2003
Location
Region
Europe
Country
Germany
City
Munich
Corporate office
Brienner Str. 7, 80333 München, Germany
Principals
Stefan Hasper
Member of the Management Board
Thomas Müsch
Member of the Management Board
Sector focus
Frequently asked questions
Who runs investment decisions at Stemas?
Stefan Hasper and Thomas Müsch, the two-member management board, make all investment and operational decisions. Hasper focuses on deal structuring and financing, while Müsch handles deal flow, operations, personnel, and controlling. Both are credentialed engineers with prior consulting careers at KPMG and Roland Berger, respectively.
Does Stemas ever sell its portfolio companies?
No. Stemas explicitly states that a Weiterveräußerung — resale — of its holdings is not planned. The firm positions itself as a permanent owner for small and mid-sized German industrials, making it structurally distinct from traditional private equity funds that operate on fixed 5-to-10-year hold periods.
What is Stemas’s relationship with GCI Management Consulting?
Stemas is the largest single shareholder in GCI Management, holding a reported 30 percent stake. GCI provides turnaround, restructuring, and M&A advisory services to mid-sized companies in the DACH region and serves as a proprietary deal-sourcing channel for Stemas. Stefan Hasper is also a managing director at GCI, where he leads the restructuring and M&A practice.
How is Stemas governed?
The two-member management board is overseen by a three-member supervisory board: Dr. Achim Johannis (VALTEQ makon), Helena Vonholdt (former Taylor Wessing CSO), and Dirk Ostheimer (Global Assekuranz). The structure separates strategic oversight from day-to-day investment and operating work conducted by Hasper and Müsch.
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