H1 2025
AUCTUS HALF-YEAR REPORT 2025
Dear friends and business partners of AUCTUS,
A new chapter is beginning – not just for AUCTUS, but for the entire investment landscape. In recent months, we have seen a notable shift in sentiment: With a new German government in place and fresh momentum from its infrastructure agenda, international investors are returning with renewed interest. At two significant events – the SuperReturn and the German Private Equity Summit – the consensus was clear: “Europe is back.”
The tailwind is strong – now it’s time to raise the sails. While optimism is rising, the real conditions still demand bold entrepreneurship and active investors who drive real value.
At AUCTUS, we take that responsibility seriously. While others hold on, we continue to invest: counter-cyclically, decisively and with entrepreneurial belief – in our portfolio companies, for our investors, and for Europe’s economic future.
Record first half: 4 new platforms
The first six months mark the strongest first half in AUCTUS history: Never before have we completed four platform investments within the first half of a year – with a fifth already nearing signing. A strong signal in a PE market still shaped by hesitation more than momentum.
Cyber Intelligence & Security: A globally active provider of mission-critical software solutions. The company develops proprietary systems for digital intelligence and threat mitigation – a highly relevant growth field that continues to gain strategic importance for public institutions and enterprises alike.
Value Added Distribution: An international specialist in design-in, distribution and logistics of electronic components, supporting clients across initial development phases to series production. With logistics and sales hubs in Germany, China and the US, the company ensures reach and efficiency across key markets.lobal specialist for design-in, sales & logistics of electronic components that supports its customers from component development to series delivery with its own sales and logistics locations in Germany, China and the USA.
Industrial TIC: A global platform for industrial testing, inspection and certification that operates its own testing laboratories and consolidates manufacturers of niche testing instruments. Focus is on TIC services & measurement instruments for demanding and highly regulated industries such as Aerospace & Defense, Infrastructure, Industrial, Railway & Transportation.
Thermal-Wellness & Spa: Two premium wellness and spa destinations in western Germany redefine health-related leisure. With a broad offering of saunas, thermal pools, fitness and gastronomy in densely populated regions, the platform lays the foundation for a sustainable consumer concept in the wellness segment.
Coming soon: A fifth deal is close to signing: an Italian technology company specializing in measurement, validation, implementation and optimization of advanced infrastructure systems. Its solutions serve enterprise networks, data centers, telecom environments and industrial operations.
1 Exit
Alongside building our portfolio, we’ve continued delivering results for our funds – including a recent milestone:
SD Fiber – Switzerland’s leading independent fiber specialist was successfully sold to a strategic buyer. During our partnership, SD Fiber tripled its revenue, successfully entered the German market and established a dedicated Smart Metering business unit – unlocking key future growth areas. Today, SD Fiber stands for operational excellence, regional strength and deep technical expertise – a prime example of long-term value creation in digital infrastructure.
9 add-ons for our future market leaders
Our existing platforms continue to show strong momentum. Nine strategic add-ons were completed, further accelerating their path toward market leadership through geographic expansion, broader capabilities and deeper technology expertise.
Especially in construction, consulting, logistics and digital services, valuable synergies were realized and strategic gaps closed. From specialized experts to cross-border providers, this combination of organic and inorganic growth once again proves the resilience and scalability of our buy-and-build approach – even (or especially) in uncertain times.
The new AUCTUS fund is coming
The sixth AUCTUS fund named “AUCTUS Unternehmerfonds” has almost reached its target volume and is expected to close this summer. The first two platforms have already been acquired.
It is a fund by entrepreneurs for entrepreneurs, emphasizing our entrepreneurial approach with more than 50% investment by our team. We invest our own capital and share the same risk as our investors.
The new fund continues the proven strategy of its five predecessors, targeting mid-sized market leaders with a clear focus on long-term value, partnership and operational engagement. For us, private equity isn’t just a vehicle – it’s a conviction.
Our team – Three locations, one culture
This year’s international team offsite took us to Warsaw – our third location alongside Munich and Milan.
With 35+ colleagues, we explored a city full of energy, celebrated a strong team spirit, and further developed our shared vision: position AUCTUS as the go-to partner for building sustainable businesses across Europe.
We look forward to a strong second half of 2025 – together with you, our valued friends and business partners.
Your AUCTUS team
About Auctus
With over 470 investments in the last 25 years, AUCTUS is the most active investment company for European SMEs. Our investments focus on majority shareholdings in companies with annual sales of between EUR 10 million and EUR 150 million.
AUCTUS stands for sustainable organic growth, but also inorganic growth through acquisitions. We achieve this in a trusting partnership together with the management of our companies. We specialize in building successful medium-sized groups of companies - we make market leaders. The more than 35 experienced AUCTUS investment experts currently manage 50 platform investments from various sectors of the economy. The platform holdings, with a total of over 200 individual companies, generate annual sales of € 4 billion. Sales and earnings have been growing at >10% per year for years.
Our successful work is regularly rewarded with prestigious awards and top international rankings.
