Skip to content
Family HoldingPuts its own capital into companiesLAST VERIFIED Oct 2026 · 1 SOURCES

Aheim Capital

Also known as Aheim Capital GmbH, Aheim, Aheim-Gruppe

Owner-managed Munich investment company (active in Germany since 2005) that invests only its own capital, in some cases with co-investors, in profitable German Mittelstand companies.

USEFUL FOR Business owners seeking a long-term partner · Co-investors

Family & background

HEADQUARTERS
München, Germany
OUTSIDE CAPITAL
No — own capital only

Investment approach

GEOGRAPHY
Germany
STAGES
GrowthBuyout
ROUTES
Companies (own capital)
STRATEGIES
Private equityDirect investments

Overview

Aheim Capital GmbH is an owner-managed, independent investment company based in Munich whose holdings in profitable German Mittelstand companies have no time limit. Its BVK profile says it invests exclusively its own capital, in individual cases alongside selected co-investors, and acts as an industrial holding for the companies of the Aheim group, most of them acquired in succession situations. The profile names PDV GmbH, W.AG Funktion + Design GmbH and milch & zucker as current holdings.

Investment thesis

Long-term, open-ended majority or minority stakes in highly profitable owner-managed Mittelstand market leaders and corporate spin-offs in Germany, mostly in succession situations: revenue from EUR 5m, EBITDA margin at least 20% and sustainable EBITDA at least EUR 2m; no sector focus.

Holdings & investments (7)

  • PDV GmbH
  • W.AG Funktion + Design GmbH
  • milch & zucker Talent Acquisition & Talent Management Company AG
  • detailM GmbH
    Former holding
  • Aqua Vital Quell- und Mineralwasser GmbH
    Former holding
  • Remy & Geiser GmbH
    Former holding
  • time:matters GmbH
    Former holding

People

  • Frank Henkelmann
    Managing Director / Partner · source

Frequently asked questions

Aheim Capital is a family holding based in München, Germany.

Aheim Capital invests its own capital into companies. Its stated asset mix includes private equity and direct investments.

Aheim Capital invests at Growth and Buyout stages.

Aheim Capital's stated ticket size is €3M–€25M.

Key people at Aheim Capital include Frank Henkelmann (Managing Director / Partner).

Aheim Capital's holdings and investments include PDV GmbH, W.AG Funktion + Design GmbH, milch & zucker Talent Acquisition & Talent Management Company AG, detailM GmbH, Aqua Vital Quell- und Mineralwasser GmbH, Remy & Geiser GmbH and time:matters GmbH.

No. Aheim Capital invests its own capital and does not raise money from outside investors.