Ufenau Capital Partners

What Ufenau Capital Partners does

Ufenau Capital Partners is a Swiss private equity firm specializing in majority participations in profitable service companies with revenues of EUR 20-100 million across the DACH region, Benelux, Spain, UK, and Poland. Founded in 2011 and headquartered in Pfäffikon, Switzerland, the firm operates through multiple fund vehicles (Ufenau IV through VIII plus continuation vehicles) and employs a distinctive Buy-&-Build strategy to develop companies while preserving locations and jobs. The firm serves three primary customer segments: entrepreneurs and business owners seeking succession solutions, management teams seeking equity participation as partners, and institutional investors seeking exposure to European small-cap private equity through fund subscriptions.

The firm's core offerings are its series of private equity funds, with the flagship Ufenau VIII Asset Light SLP closing at EUR 2.12 billion in June 2025 after being oversubscribed within four months. As a pure-play financial firm, Ufenau does not develop proprietary technology; its value proposition centers on a unique network of Industry Partners — high-profile entrepreneurs and senior managers who provide sector expertise to portfolio companies. The portfolio spans over 30 companies across IT services, healthcare, legal services, infrastructure, and environmental services, including notable holdings such as Altano (veterinary medicine), Corius (dermatology clinics), X1F (IT consulting for financial services), Kanalservice Gruppe (sewer maintenance, merged with Grupo Sasti in June 2026), and enomyc GmbH (management consulting).

Ufenau's business model generates revenue through two streams: recurring management fees on committed capital and performance-based carried interest from successful exits. Distribution occurs through direct fundraising to institutional investors, family offices, and high-net-worth individuals, supplemented by placement agents and a dedicated Head of Investor Relations (William Clegg). The firm has expanded its geographic footprint with offices in Madrid, Amsterdam (opened 2023), Warsaw, London (opened April 2024), and Miami (opened May 2026), the latter marking its first presence outside Europe. Leadership comprises Managing Partners Ralf Flore and Dieter Scheiff alongside Partners Marinus Schmitt, Andreas Joehle, Adrian Hess, Joaquín Alcalde, and Richard Lustig, supported by an investment team with credentials from Lazard, Moelis, Ardian, Rothschild, KPMG, and BlackRock. The firm has earned multiple industry awards including the Real Deals Fundraise of the Year: Over EUR 2bn in 2026 and consistent recognition as a top DACH small-cap buyout fund.

Name

Ufenau Capital Partners

Legal name

Ufenau Capital Partners AG

Website

https://ucp.ch/

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

11–50 employees

Short description

Ufenau Capital Partners is a Swiss private equity firm that acquires majority stakes in profitable European service companies with EUR 20-100 million revenues, executing a Buy-&-Build strategy to serve entrepreneurs, management teams, and institutional investors through multiple fund vintages.

Ownership category

akta.pro rank

Product category

Private Equity Buyout Fund Management

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Corporate Finance & Capital Advisory (BPAHADAB)

akta.pro secondary industry

Institutional Capital Introduction (LP/Family Office/Endowment Matching) (FSAEALAI)

Keywords

• Private equity investments
• Small-cap buyout funds
• Buy-and-build strategy
• Majority stake acquisitions
• Asset-light services

Headquarters

HQ city

Pfaffikon

HQ country

Switzerland

HQ region

Europe

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others, Technology or R&D

Revenue model

1. Management Fees: Private equity fund management fees charged on committed capital or assets under management during the investment period.
2. Carried Interest: Performance-based carried interest from successful exits and value creation in portfolio companies, typically 20% of profits above the hurdle rate.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Ufenau Capital Partners is a Swiss private equity firm that invests in profitable service companies with revenues of EUR 20-100 million through a Buy-&-Build strategy, taking majority stakes across DACH, Benelux, Spain, UK, and Poland. The firm manages multiple fund vehicles (Ufenau IV through VIII plus Continuation funds) and supports portfolio companies with an Industry Partner network providing deep sector expertise, management participation, succession solutions, and capital for organic growth and acquisitions.

Product overview

Ufenau Capital Partners operates a series of private equity funds (Ufenau IV through VIII plus continuation vehicles) offering majority participations in profitable service companies with EUR 20-100 million revenues across DACH, Benelux, Spain, UK, and Poland. The firm's flagship product is the Asset Light SLP fund series, with the Ufenau VIII closing at EUR 2.12 billion. The funds implement a Buy-&-Build strategy to develop companies while preserving locations and jobs, supported by an Industry Partner network. The portfolio spans diverse service sectors including IT services (collana, Unikal, X1F), healthcare (Altano veterinary, Corius dermatology), business services (ebutec, enomyc), legal services (Express Solicitors, KWKR, Asenza), engineering (IPP, Rootworx), and environmental services (Grupo Sasti, Kanalservice).

Differentiator

Problem solved

Functional benefit

Brands

• Ufenau IV German Asset Light: Fund vehicle for German asset light investments
• Ufenau VI German Asset Light
• Ufenau VII Asset Light
• Ufenau VIII Asset Light
• Ufenau Continuation III
• Ufenau Continuation 4

Products and services

• Ufenau VIII Asset Light SLP Flagship Ufenau private equity fund vehicle targeting majority stakes in profitable service companies with EUR 20-100 million revenues across DACH region, Benelux, Spain, UK, and Poland. Closed at EUR 2.12 billion hard-cap in June 2025. Aimed at qualified institutional investors, family offices, and high-net-worth individuals.
• Ufenau VII Asset Light SLP Private equity fund for majority participations in profitable service companies. Closed at EUR 1.0 billion hard-cap in March 2022. Used to support add-on acquisitions and platform investments across the target European geographies.
• Ufenau Continuation Fonds 4, SLP Continuation vehicle for existing portfolio companies Corius and Altano to support continued Buy-&-Build strategy. Closed at EUR 450 million hard-cap in September 2023.
• Ufenau Continuation III Continuation fund providing additional capital for portfolio companies Corius and Altano to support strong growth and continue the Buy-&-Build strategy that Ufenau V began in 2017. Closed at EUR 563 million hard-cap in April 2022.
• Ufenau VI German Asset Light Private equity fund vehicle focused on German-speaking markets and adjacent regions for majority service-company investments. Has executed exits including the HVAC unit of ebutec Gruppe to Nordic Climate and CVS Group to Eiffage Energía.
• Ufenau IV German Asset Light, SLP Earlier vintage fund in the Ufenau series focused on majority investments in service companies. Successfully divested Trans Europa Express Holding AG to Orlando Capital GmbH in June 2026.
• Buy-&-Build Platform Investments Majority stake investments in profitable service companies (EUR 20-100 million revenue) combined with reserved follow-on capital and operational support to enable strategic add-on acquisitions, organic growth, and market consolidation in fragmented service sectors.
• Succession Solutions for Business Owners Complete or gradual succession solutions for entrepreneurs and families seeking to sell majority shareholdings or entire companies, with the option to re-invest alongside Ufenau to remain connected to the business and participate in future performance.
• Management Participation Programs Equity participation programs on a partnership basis with attractive terms that enable ambitious management teams to acquire companies, become co-investors, and execute Buy-&-Build acquisitions alongside Ufenau.
• Industry Partner Network Support Operational know-how and sector expertise provided to portfolio companies through a unique network of high-profile entrepreneurs and former/active senior managers who act as sparring partners alongside management teams.

Quantifiable outcome

• Ufenau VIII closed at EUR 2.12 billion hard-cap within 4 months
• +4 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core and minor.

• enomyc GmbHcoreStrategic or Co-development Partner · 18 June 2026Ufenau VIII Asset Light, SLP acquired a majority stake in enomyc GmbH, a German management consulting firm specializing in transformation and restructuring services for mid-market customers across various industries. Founded in 2003, enomyc has successfully completed over 1,800 customer projects.
• Nordic Climate GruppeminorStrategic or Co-development Partner · 16 June 2026Ufenau VI German Asset Light sold the HVAC (heating, ventilation, air conditioning) unit of the ebutec Group to Nordic Climate Gruppe, a Swedish company specializing in cooling, heating, and energy efficiency solutions.
• PKF WMScoreStrategic or Co-development Partner · 3 June 2025Ufenau Fond VII entered a long-term strategic partnership with PKF WMS, a leading regional one-stop-shop for tax advisory, auditing, legal, and complementary financial advisory services with six offices in Northwest Germany and over 450 employees.

Scale indicators10 records

Recent moves13 records

Expansion highlights5 records

Regional players

• Bencis Capital Partners: Amsterdam-based lower-mid-market PE firm focused on Benelux-headquartered companies. Directly comparable as a regional DACH/Benelux mid-market sponsor with similar service-company orientation and ticket-size profile.

Direct peers

• Triton Partners: European mid-market PE firm that acquired Swiss IT Security from Ufenau in 2021. Comparable investor profile in DACH/European mid-market service and industrial buyouts and a natural counterparty in Ufenau's exit universe.
• Capvis Equity Partners: Swiss-headquartered lower-mid-market PE firm focused on majority buyouts in profitable, cash-flow-positive companies across DACH and Benelux. Closest direct competitor in geography, ticket size, and asset-light service-company thesis.
• Aurelius Equity Opportunities: DACH-headquartered mid-market investor in operational and corporate carve-outs. Overlaps with Ufenau in DACH service-company buyouts and Buy-&-Build execution; one of Ufenau's Sustainability Manager's prior internship sites.
• Orlando Capital: Munich-based lower-mid-market PE firm. Recent counterparty in the 2026 sale of Trans Europa Express from a Ufenau fund, making it a directly comparable DACH sponsor at similar ticket sizes.
• IK Partners: European mid-market sponsor with a strong DACH/Benelux footprint and focus on profitable service and consumer companies. Directly comparable in target geography, ticket size, and sector orientation.
• Paragon Partners: Munich-based lower-mid-market PE firm focused on DACH Mittelstand buyouts. Comparable in target geography, deal size, and preference for owner-led succession situations similar to Ufenau's core thesis.
• Equistone Partners Europe: Pan-European mid-market buyout firm with deep DACH roots and a focus on majority stakes in profitable mid-sized companies. Closely comparable in target geography, deal size, and service-sector orientation.

Broad incumbents

• Gimv: Listed European investment company with strong Benelux mid-market franchise. Comparable as a regional mid-market sponsor pursuing Buy-&-Build in profitable service companies across Western Europe.
• Deutsche Beteiligungs AG (DBAG): Frankfurt-listed mid-market PE firm investing in German Mittelstand companies. Comparable in DACH service-company focus and Buy-&-Build execution but operates with broader industrial exposure and a public listing.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries42 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A15 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ufenau Capital Partners