Haspa BGM

Focus

STAGES

GrowthBuyout

SECTORS

Industrial & ManufacturingConsumer & E-commerceSoftware & SaaSHealthTechMedia & EntertainmentFood & Agriculture

ASSET MIX

Private equityDirect investmentsPrivate credit

GEOGRAPHY

GermanyEurope

Overview

Haspa Beteiligungsgesellschaft für den Mittelstand mbH (Haspa BGM) is a Hamburg private-equity company founded in the late 1990s out of Hamburger Sparkasse's corporate-finance unit and wholly owned by Haspa Finanzholding, sole shareholder of Hamburger Sparkasse. As an evergreen investor financed by its shareholder, it takes silent or open, majority or minority stakes of €3–20 million in owner-managed Mittelstand companies with €10–300 million revenue in German-speaking countries, without sector focus. Typical situations are succession, growth, shareholder changes, buy-and-build, entrepreneur buy-outs and carve-outs. It manages €200 million and about 20 portfolio companies; founder Carsten Röhrs handed over to Maximilian Schilling, Sven Bode and Dr. Florian Franke in 2026.

Investment thesis

Long-term equity partner for established, usually owner-managed Mittelstand companies (revenue €10–300m, good profitability, growth or consolidation potential) in German-speaking countries, with tailored silent or open, majority or minority structures for succession, growth, shareholder exits, buy-and-build, entrepreneur buy-outs and carve-outs.

PORTFOLIO (40)

• Agrarfrost
  Food & Agriculture · Exited (holding period 2011–2025)
• AMAS Technology
  Industrial & Manufacturing · since 2016
• Aqua free
  HealthTech · since 2017
• Becker Marine Systems
  Industrial & Manufacturing · Exited (participation repaid)
• Braase
  Mobility & Logistics · since 2019
• Brands Fashion
  Consumer & E-commerce · Exited (majority sold to Jebsen & Jessen)
• Carl Group
  Exited (optician sold to Fielmann; event-tech unit bought back by shareholders)
• cyber-Wear
  since 2023
• ewers Heizungstechnik
  Industrial & Manufacturing · since 2023
• EUROIMMUN
  Biotech & Life Sciences · Exited (shares bought back by shareholders)
• evotec
  Biotech & Life Sciences · Exited (IPO and gradual sale of shares)
• FRIMO
  Industrial & Manufacturing · Exited (majority sold to Deutsche Beteiligungs AG)
• GFA Consulting Group
  Exited (participation repaid)
• Globetrotter
  Consumer & E-commerce · Exited (stake repaid on sale to Fenix Outdoor International AG)
• Ham-Log Gruppe
  Mobility & Logistics · Exited (bought back by main shareholder)
• Hansa Maschinenbau
  Industrial & Manufacturing · since 2021
• Hein & Oetting
  Industrial & Manufacturing · Exited (participation repaid)
• Helmers Maschinenbau
  Industrial & Manufacturing · since 2018
• HPM Die Handwerksgruppe
  Exited (participation repaid)
• IP Dynamics
  Software & SaaS · since 2020
• Keil Anlagenbau
  Industrial & Manufacturing · since 2017
• moba Fenster + Türen
  Industrial & Manufacturing · Exited (sold to HPM Gruppe)
• MHG Heiztechnik
  Industrial & Manufacturing · Exited (sold to a strategic buyer)
• MT.DERM
  HealthTech · since 2019
• novomind
  Software & SaaS · Exited (holding period 2011–2025)
• Paaschburg & Wunderlich
  Consumer & E-commerce · Exited (sold to a strategic buyer)
• Penpet
  Consumer & E-commerce · Exited (participation repaid)
• R+S Group
  Exited (holding period 2010–2025)
• Rübsam Fachkräfte
  since 2024
• RYSM
  Media & Entertainment · since 2026
• Sandmaster Gruppe
  since 2025
• Schaltex Systems
  Industrial & Manufacturing · Exited (sold to Scanfil Oyj, Finland)
• Schulz-Electronic
  Consumer & E-commerce · since 2022
• sequenom
  Biotech & Life Sciences · Exited (Nasdaq IPO 2000 and sale of shares)
• STEVENS Bikes
  Mobility & Logistics · since 2024
• TeamVet
  HealthTech · Exited (holding period 2020–2025)
• United Ambient Media
  Media & Entertainment · Exited (participation repaid)
• Ventum
  Consumer & E-commerce · Exited (stake repaid in connection with a sale)
• Wunderbar Clean Technology
  since 2025
• VARTAN.AERO
  Industrial & Manufacturing · since 2025

People

• Maximilian Schilling
  Managing Director (Geschäftsführer) · source
• Sven Bode
  Managing Director (Geschäftsführer) · source
• Dr. Florian Franke
  Managing Director (Geschäftsführer) · source
• Stephan Hannebauer
  Investment Director & member of the management team · source
• Janna Meyer-Kistner
  Investment Director · source
• Jörg Könighaus
  Investment Manager · source
• Janne Sönnichsen
  Senior Associate · source
• Imogen Schmidt
  Senior Associate · source
• Mathias Wagemeyer
  Kaufmännischer Leiter (Head of Finance & Administration) · source
• Carsten Röhrs
  Founder; chair of the advisory board (Beiratsvorsitz) since May 2026, managing director until 30 April 2026 · source

Links

• Website
• Official contact page

Frequently asked questions