Süd Beteiligungen (SüdBG)
100% private-equity subsidiary of Landesbank Baden-Württemberg (LBBW)
Also known as Süd Beteiligungen GmbH, SüdBG, Süd-Kapitalbeteiligungs-Gesellschaft mbH (SüdKB), Süd KB Unternehmensbeteiligungsgesellschaft mbH (SüdKBU)
LBBW's wholly owned Mittelstand PE company (Stuttgart): majority/minority equity and mezzanine from €2.5m for DACH firms with €20m+ revenue; >€500m capital commitments.
LBBW's Mittelstand private-equity subsidiary; its sister company LBBW Venture Capital (slug lbbw-venture-capital) handles start-ups. Not to be confused with CFH Management (Leipzig), a former LBBW equity unit spun out in 2017.
- HEADQUARTERS
- Stuttgart, Germany
- FOUNDED
- —
- AUM
- €500M (2026)
- OUTSIDE CAPITAL
- No — own capital only
- TEAM LISTED
- 10 people
FOCUS
- STAGES
- GrowthBuyout
- ASSET MIX
- Private equityPrivate credit
- GEOGRAPHY
- GermanyAustriaSwitzerland
WHAT IT IS
Corporate VC. A corporation investing from its own balance sheet, usually with strategic goals.
- Süd-Kapitalbeteiligungs-Gesellschaft mbH (SüdKB)Evergreen investment vehicle managed and held by SüdBG
- Süd KB Unternehmensbeteiligungsgesellschaft mbH (SüdKBU)Evergreen investment vehicle (Unternehmensbeteiligungsgesellschaft) managed and held by SüdBG
ABOUT
Süd Beteiligungen GmbH (SüdBG) is a wholly owned subsidiary of Landesbank Baden-Württemberg, based in Stuttgart, and acts as management and holding company for LBBW's Mittelstand equity vehicles SüdKB and SüdKBU. It provides majority and minority stakes and mezzanine capital of at least €2.5 million to growing companies in Germany, Austria and Switzerland with revenue of €20 million or more, for growth, succession, shareholder changes and spin-offs. It reports capital commitments of more than €500 million and says it has backed over 70 companies with about €600 million over the past ten years. Recent activity includes the DEKOM investment with VR Equitypartner (December 2024), a majority stake in webesan with the WMS fund (February 2025) and the sale of Janoschka to Blue Cap (May 2026).
INVESTMENT THESIS
Majority and minority equity and mezzanine for growing Mittelstand companies in Germany, Austria and Switzerland with revenue from €20m, qualified management, clear competitive advantages and solid reporting; minimum investment €2.5m; occasions are growth and buy-and-build, succession/MBO, shareholder changes and corporate spin-offs; typical exit after 5–7 years, longer holds possible thanks to evergreen investment vehicles; no operational role.
PORTFOLIO (24)
- DEKOMMedia & Entertainment · since 2024
- m+m Gebäudetechnik GmbHIndustrial & Manufacturing · since 2023
- Sovereign Speed GruppeMobility & Logistics · since 2022
- Deharde GmbHIndustrial & Manufacturing · since 2022
- Fischer Panda GmbHIndustrial & Manufacturing · since 2021
- AGVS Aluminium Werke GmbHIndustrial & Manufacturing · since 2018
- webesan GmbHIndustrial & Manufacturing · since 2025
- Janoschka AGIndustrial & Manufacturing · since 2017 · Exited (sold to Blue Cap AG, signed May 2026)
- KKL Klimatechnik-Vertriebs GmbHIndustrial & Manufacturing · since 2018 · Exited (sold to bluu unit GmbH, Sept 2025)
- Fabmatics GmbHDeep Tech · Exited
- Addfinity / TestaIndustrial & Manufacturing · Exited
- EPSaSoftware & SaaS · Exited
- DUO PLAST AGIndustrial & Manufacturing · Exited
- RitterwandIndustrial & Manufacturing · Exited
- PillerIndustrial & Manufacturing · Exited
- WayandIndustrial & Manufacturing · Exited
- DBWMobility & Logistics · Exited
- FEAGIndustrial & Manufacturing · Exited
- SVTIndustrial & Manufacturing · Exited
- Clean CarIndustrial & Manufacturing · Exited
- MASAIndustrial & Manufacturing · Exited
- MSCIndustrial & Manufacturing · Exited
- CS ConsultingSoftware & SaaS · Exited
- myonicIndustrial & Manufacturing · Exited
TEAM
- Gunter MaxSpokesman of the Management (Sprecher der Geschäftsführung) · source
- Manfred PeterHead of Middle Office · source
- Daniel HeinzmannInvestment Director · source
- Marius MeyerInvestment Director · source
- Felix RiederInvestment Director · source
- Jens FuhrmannSenior Investment Manager · source
- Philipp NitzschkeSenior Investment Manager · source
- Bettina SchäferSenior Investment Manager · source
- Sebastian KöhnleinInvestment Manager · source
- Alexander LangInvestment Manager · source
LINKS
FAQ
Süd Beteiligungen (SüdBG) is a corporate venture arm based in Stuttgart, Germany.
Yes. Süd Beteiligungen (SüdBG) invests directly in private companies.
Süd Beteiligungen (SüdBG) invests at Growth and Buyout stages in Industrial & Manufacturing, Mobility & Logistics, Software & SaaS, Deep Tech and Media & Entertainment.
Süd Beteiligungen (SüdBG)'s stated ticket size is From €2.5M.
Key people at Süd Beteiligungen (SüdBG) include Gunter Max (Spokesman of the Management (Sprecher der Geschäftsführung)), Manfred Peter (Head of Middle Office), Daniel Heinzmann (Investment Director) and Marius Meyer (Investment Director).
Süd Beteiligungen (SüdBG)'s investments include DEKOM, m+m Gebäudetechnik GmbH, Sovereign Speed Gruppe, Deharde GmbH, Fischer Panda GmbH, AGVS Aluminium Werke GmbH, webesan GmbH and Janoschka AG, among others.
The most recent publicly reported investment by Süd Beteiligungen (SüdBG) is webesan GmbH (Majority stake (co-investment with WMS Wachstumsfonds Mittelstand Sachsen)), announced in Feb 2025.
No. Süd Beteiligungen (SüdBG) invests its own capital and does not raise money from outside investors.