In many ways, the recent history of private equity in Germany mirrors the industry’s recent history throughout Europe. After tumbling off a cliff in the wake of the 2008 financial crisis, activity has bounced back with a vengeance.
The sector most responsible for the rising tide in Germany is B2B. Last year, 47% of all PE deals were in the B2B space, including a PE consortium’s €3.9 billion buyout of service station operator Autobahn Tank & Rast and Bain Capital's €600 million acquisition of elevator components manufacturer Wittur.
While foreign firms have certainly been active in Germany, the country’s own PE investors have been leading the charge. Here are the top PE investors in the nation since 2007, along with their deal counts: