S-UBG Gruppe
Equity subsidiary of the shareholding Sparkassen (BVK: 'Beteiligungs- / Tochtergesellschaft institutioneller Investoren', investor type Kreditinstitute); invests the shareholders' capital Eight Rhineland Sparkassen (Sparkasse Aachen, Sparkasse Düren, Kreissparkasse Heinsberg, Kreissparkasse Euskirchen, Sparkasse Krefeld, Stadtsparkasse Mönchengladbach, Sparkasse Neuss, Sparkasse Rhein-Maas)
Also known as S-UBG AG, S-UBG AG Unternehmensbeteiligungsgesellschaft für die Regionen Aachen, Krefeld und Mönchengladbach, S-UBG Aktiengesellschaft, S-VC GmbH Risikokapitalfonds für die Regionen Aachen, Krefeld und Mönchengladbach
Aachen equity company of eight Rhineland Sparkassen, founded 1988; minority stakes of up to €6M in Mittelstand firms for growth, MBO/MBI and succession.
Aachen Sparkassen equity company. Not the same as S-Beteiligungen Leipzig or other Sparkasse equity companies (S-Beteiligungsgesellschaften, S-UBG names) elsewhere in Germany.
- HEADQUARTERS
- Aachen, Germany
- FOUNDED
- 1988
- AUM
- —
- OUTSIDE CAPITAL
- —
- TEAM LISTED
- 7 people
Focus
- STAGES
- GrowthBuyout
- SECTORS
- Industrial & ManufacturingSoftware & SaaSHealthTechBiotech & Life SciencesEducationMobility & Logistics
- ASSET MIX
- Private equityDirect investments
- GEOGRAPHY
- Germany
Investment arms & vehicles
- Partner fund for early-stage startups (pre-seed to Series A); the S-UBG board members are its Managing Partners and the S-UBG CFO structures its funds; TVF funds take third-party LP money
- Venture capital company of the group, listed in the S-UBG Impressum (Handelsregister Aachen HR B 7107)
Overview
S-UBG AG is an Aachen-based Unternehmensbeteiligungsgesellschaft founded in 1988 and owned by Sparkassen from the western Rhineland; Sparkasse Neuss and Sparkasse Rhein-Maas joined through a capital increase in February 2025. It takes open and silent minority stakes of up to €6M in established Mittelstand companies for growth, shareholder changes, succession (MBO/MBI) and entrepreneurship through acquisition, with no time limit on its holdings. The S-UBG Gruppe says it has financed more than 200 companies and holds stakes in close to 40 companies in the region. Its early-stage partner fund is TechVision Fonds, run by the same managing partners.
Investment thesis
Minority equity and mezzanine for established Mittelstand companies in the western Rhineland (Aachen, Krefeld, Mönchengladbach, Neuss, Rhein-Maas) in growth sectors, with no fixed sector focus; high quality of management is a key investment criterion; growth finance, shareholder changes, MBO/MBI succession and entrepreneurship through acquisition, up to €6M equity per company, larger deals with co-investors and lenders.
PORTFOLIO (14)
- KSA Kugelstrahlzentrum AachenSpace · since 2005
- Albrecht-AutomatikIndustrial & Manufacturing · since 2026
- INsparesSoftware & SaaS · since 2025
- FluviusIndustrial & Manufacturing · since 2025
- LUMINO Licht ElektronikMobility & Logistics · since 2002
- LD DIDACTICEducation · since 2023 · Exited
- HPL TechnologiesMobility & Logistics · since 2022
- Kerpen DatacomIndustrial & Manufacturing · since 2021
- Talbot ServicesMobility & Logistics · since 2013
- Palmer HargreavesMedia & Entertainment · since 2020
- Rattay UnternehmensgruppeIndustrial & Manufacturing
- Jouhsen bündgensIndustrial & Manufacturing
- AMEPAIndustrial & Manufacturing
- Cyrus TechnologyIndustrial & Manufacturing
People
- Bernhard KugelVorstand (Management Board); Managing Partner of TVF · source
- Dr. Ansgar SchleicherVorstand (Management Board); Managing Partner of TVF · source
- Peter BoymansProkurist; CFO · source
- Humberto DuarteProkurist; PR, marketing and PIN partner network · source
- Beate FederselSenior Investment Manager · source
- Dr. Cäcilie ReyInvestment Associate · source
- Dr. Christian BurmesterChair of the Supervisory Board (Aufsichtsratsvorsitz) · source
Links
Frequently asked questions
S-UBG Gruppe is a corporate venture arm based in Aachen, Germany, founded in 1988.
Yes. S-UBG Gruppe invests its own capital in private companies.
S-UBG Gruppe invests at Growth and Buyout stages in Industrial & Manufacturing, Software & SaaS, HealthTech, Biotech & Life Sciences, Education and Mobility & Logistics.
S-UBG Gruppe's stated ticket size is €500K–€6M.
Key people at S-UBG Gruppe include Bernhard Kugel (Vorstand (Management Board); Managing Partner of TVF), Dr. Ansgar Schleicher (Vorstand (Management Board); Managing Partner of TVF), Peter Boymans (Prokurist; CFO) and Humberto Duarte (Prokurist; PR, marketing and PIN partner network).
S-UBG Gruppe's investments include KSA Kugelstrahlzentrum Aachen, Albrecht-Automatik, INspares, Fluvius, LUMINO Licht Elektronik, LD DIDACTIC, HPL Technologies and Kerpen Datacom, among others.
The most recent publicly reported investment by S-UBG Gruppe is KSA Kugelstrahlzentrum Aachen (Management buy-in with ACT-Holding: 80% acquired (re-investment; S-UBG invested since 2005)), announced in May 2026.
S-UBG Gruppe states that it accepts submissions through its official contact page.