What Chequers Capital does

Chequers Capital is a privately held, pan-European private equity firm founded in 1972 and headquartered in Paris, with a secondary office in Munich. The firm specializes in mid-cap buyout investments in B2B companies, typically deploying €50-150 million of equity per transaction as either a majority or minority investor under a long-term ownership model. Over its 50-year history, Chequers has completed approximately 300 investments and currently invests through its 18th fund vehicle, managing around €2 billion in assets. The firm operates with 25 investment professionals across two offices and has built a network of 300+ management partnerships, contributing what it describes as a "full ecosystem of executive experts" to portfolio companies through organic growth programs and buy-and-build strategies.

The firm's core offering is investment management services for institutional limited partners, generating revenue through management fees on committed capital and carried interest on exits. Chequers targets market-leading mid-cap companies across a diverse set of verticals, including light industrial (Rollon, Metabo, Thermocoax), specialty chemicals (Bozzetto, Biolchim), construction materials (Alkern), IT services (Accelya, Fime), equipment rental (TCR), HVAC and industrial cooling (MTA), and luxury components (Riri). Disclosed transaction history shows a continuous cadence of platform acquisitions and exits dating back to 1993, with notable recent activity including Alliance Etiquettes (2021), Somacis (2022), Riri divestiture (2023), MTA divestiture (2023), Fime divestiture (2024), Alkern divestiture (2025), and the Aserti Group acquisition from Parquest in March 2026 (the asset's fourth LBO).

Chequers maintains a relationship-based, referral-driven go-to-market rather than a transactional sales motion, with deal sourcing driven by the investment team and its network of executives, intermediaries, and prior portfolio managers. The firm has formalized ESG positioning through UNPRI signatory status, membership in France Invest and Level 20, and partnerships with social and environmental initiatives. There is no proprietary technology platform; the competitive differentiation rests on track record, network, and operating support rather than on a software or AI-enabled product surface.

Name

Chequers Capital

Legal name

Chequers Partenaires SA

Website

http://www.chequerscapital.com/

Company type

Private

Founded year

1972

Operating status

Operating

Headcount range

11–50 employees

Short description

Chequers Capital is a privately held Paris-based private equity firm (founded 1972) specializing in pan-European mid-cap buyouts of B2B companies, deploying up to €150m per transaction through its 18th fund vehicle with €2B under management and a 300-investment track record.

Ownership category

akta.pro rank

Product category

Private Equity / Investment Management

NAICS

Commercial Banking (522110), Commercial Banking (52211)

SIC

Loan Brokers (6163), Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Tail-End / Residual Portfolio Secondaries (FSANAFAK)

Keywords

• Private equity buyouts
• Mid-cap investments
• Fund management services
• B2B company acquisitions
• Leveraged buyouts

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Fund Management: Chequers Capital generates revenue through management fees and carried interest from their investment funds. As a private equity firm, they manage €2 billion under management across multiple fund vehicles, with their 18th investment vehicle currently active.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Chequers Capital is a pan-European, mid-cap buyout specialist focused on acquiring and developing small, medium and large-sized B2B companies. The firm invests up to €150m equity per transaction, acting as majority or minority investor with a long-term view. It manages approximately €2 billion across multiple fund vehicles, currently deploying its 18th investment vehicle while supporting portfolio companies through organic growth and buy-and-build strategies.

Product overview

Chequers Capital is a private equity firm (founded in 1972) offering investment management services to institutional investors. The firm operates as a single unified service focused on mid-cap buyout investments in European B2B companies. The core offering consists of equity investment and active portfolio management, with the firm typically investing €50m to €150m equity per transaction across various sectors including B2B services, IT services, light industrial, and healthcare. The investment strategy supports both organic growth and external growth (buy-and-build) initiatives, with a long-term holding approach and active involvement in portfolio company development.

Differentiator

Problem solved

Functional benefit

Products and services

• Investment Management Services

Quantifiable outcome

• 300 investments completed over 50 years
• +2 more outcomes

Named customers12 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered core and minor.

• UNPRI (United Nations Principles for Responsible Investment)coreOthersChequers is a signatory member of UNPRI, reporting annually on their responsible investment performance to investors and committing to industry initiatives that promote ESG best practices.
• France InvestcoreOthersFrench private equity and venture capital association. Chequers participates in industry initiatives promoting sustainable investment practices in France.
• Level 20minorOthersAssociation dedicated to promoting gender diversity in private equity across Europe. Chequers supports this initiative as part of their diversity commitment.
• Break PovertyminorOthersChequers contributes to Break Poverty, an organization working to break the cycle of poverty through employment and entrepreneurship support.
• ONF (Office National des Forêts)minorOthersChequers supports ONF's forest conservation and environmental initiatives as part of their environmental commitments.
• Elles BougentminorOthersChequers participates in Elles Bougent, an organization promoting gender diversity in engineering and technical professions.

Scale indicators5 records

Recent moves6 records

Expansion highlights7 records

Broad incumbents

• 3i Group: London-listed broader private equity and venture platform with European mid-market activity, an incumbent peer that operates at the upper edge of Chequers' mid-cap range and beyond.

Direct peers

• Astorg: Paris-based mid-market private equity firm focused on European B2B companies, with comparable ticket sizes, sector focus and a long-hold approach similar to Chequers.
• PAI Partners: Paris-headquartered mid/large-cap buyout firm investing across Europe in B2B businesses, overlapping with Chequers on ticket size, sector mix, and operating model.
• Ardian: Paris-based global private investment house with a large mid-cap buyout franchise across Europe, directly comparable to Chequers in geography, ticket size, and B2B sector focus.
• Apax Partners: Paris- and London-headquartered mid-market private equity firm with a European B2B focus, directly comparable in deal size and sector orientation to Chequers.
• Eurazeo: Paris-listed investment firm with a sizeable mid- and large-cap private equity franchise in Europe, competing directly with Chequers for European B2B mid-cap buyouts.
• Bridgepoint: London-based mid-market private equity firm investing across European B2B companies with similar equity tickets and sector breadth as Chequers.
• IK Partners: European mid-market private equity firm with offices across the continent, focused on B2B businesses at equity tickets overlapping with Chequers' range.
• Equistone Partners Europe: Pan-European mid-market buyout firm headquartered in London with continental European offices, competing with Chequers for similar mid-cap B2B transactions.
• Charterhouse Capital Partners: London-headquartered mid-market private equity firm investing in European B2B companies at comparable ticket sizes to Chequers, with a similar long-hold approach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

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

M&A19 records

Investments2 records

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

Frequently asked questions about Chequers Capital