GREENPEAK Partners successfully closed its Fund II in July 2022

  • GREENPEAK Partners Fund II GmbH & Co. KG (the “Fund”) closed on 29 July 2022 with EUR 150m-200m in deployment capacity within Fund II incl. co-investments
  • The Fund is an aspiring SFDR Article 8 fund
  • Fund II has made five platform investments and is now focusing on add-ons; it expects to make three to five add-ons per platform per year
  • GREENPEAK invests EUR 30m-50m of equity per platform company, with EUR 3m-20m deployed per add-on
  • The Fund portfolio companies include Academia, Certania, Epiona, Viventec, and Paratus
  • Ely Place and Acanthus were acting as placement agents for the fundraise of GREENPEAK Fund II
  • Orbit Fund Boutique was acting as legal counsel for the Fund

On the Fund’s strategy

GREENPEAK Partners Fund II follows an ESG theme-led, entrepreneurial Buy & Build strategy driving consolidation in attractive and pre-identified service niches in the DACH market. We specialise in three industrial areas: healthcare, business services, and services for real assets. GREENPEAK seeks value-creation through technology employment in these sectors capitalizing on the mega-trends of environmental and longevity that Europeans care so much for.

We team up with buy-in entrepreneurs and seek to acquire stable cashflow generating companies forming sustainable partnerships between them and thereby building up larger businesses. We always invest into cashflows at fair market valuations, build solid service groups where the re-investing sellers, managing directors, and employees find a home with greater stability also when sailing against economic headwinds.

On GREENPEAK Partners

GREENPEAK Partners is a company builder with proven track record and comprehensive expertise in the foundation, development, and expansion of industry leaders within the German, Austrian, and Swiss markets. While executing its Buy & Build strategies, GREENPEAK aims at developing industry leaders by virtue of strong and close partnerships, ESG values, and aligned sustainable interests.

Throughout the years, the GREENPEAK Partner team has built 8 platforms, all flourishing today, with annual revenues of over €750m.

The founding and managing partners Daniel Beringer, Florian Kopp, Jens Cremer and Dr. Michael Ruoff lead the strategic and operational business of GREENPEAK.

Greenpeak Partners on emerging manager fundraising and specialisation

By Harriet Matthews, published at unquote.com

As Greenpeak Partners wraps up the final close of its second fund, managing partner Daniel Beringer speaks to Unquote about the Munich-headquartered GP’s latest fundraise and its focus on healthcare, business and real assets services buy-and-build.

Beringer did not disclose the expected final close amount, for Greenpeak Fund II, but said that the GP should have EUR 150m-200m in deployment capacity with Fund II plus co-investments. It previously raised EUR 110m for its debut fund.

Ely Place and Acanthus have acted as placement agents for the fundraise of vehicle, which is an Article 8 fund under the SFDR.

Daniel Beringer - GREENPEAK PARTNERS

“We felt that raising around EUR 150m in total capital was a realistic goal, ”Beringer said. “We thought we might get it there a little but faster at the start, but we took half a year longer in the current environment as we are a new fund. We have an almost overperforming portfolio, but with so many large funds drawing money, you need the track record and credibility to raise money – people’s capacity for trial and error is decreasing.”

The GP is well aware that the current market has been, and continues to be, a particularly tough one for emerging managers. “The industry has professionalised and the only strategy as a small fund you can go for is specialisation,” Beringer said. “We specialise in buy and build in three areas: healthcare; and business services, and services for real assets. Technology is engrained into these, and in both sectors, the trend we believe makes sense for us is the environmental and longevity trends that Europeans care so much for.”

Greenpeak’s investment strategy has left its portfolio relatively well insulated from the current market, according to Beringer. “We always acquire cashflow generating companies and build up larger companies from this,” he said. “We have always invested into cashflows at sensible single-digit multiples, so we aren’t suffering so much from multiple compression.”

Its investment themes have also offered a form of buffer from the current cycle, Beringer said. “There is always some cyclicality out there, and consumer preference can change – but people still go to the doctors, and the environment still needs protecting. The trend drivers are higher than the GDP growth drivers.”

Building platforms

Fund II has made five platform investments and is now focusing on add-ons; the GP expects to make three to five add-ons per company from the fund. Greenpeak generally makes 20 deals per year, including add-ons for its portfolio, Beringer said.

Greenpeak typically invests EUR 30m-50m per platform company, with EUR 3m-20m deployed per add-on. It targets businesses based in the DACH region with EBITDA of EUR 500,000-5m and revenues of EUR 5m-50m, according to its website. It focuses on businesses with strong management teams.

The fund’s portfolio companies include laboratory data group Academia, ecological testing, inspection and certification provider Certania, building technology service provider Viventec, and healthcare software and IT provider Paratus.

“HVAC buy-and-build for Viventec is a big topic for us at the moment, particularly given the possibility we will be cut off from Russian gas,” Beringer said. “We foresaw houses getting greener, but we didn’t foresee Russia’s war with Ukraine. We are seeing good growth and a lot of interesting opportunities for Certania, too, which focuses on ESG testing and inspection, and there are similar opportunities for Robur.”

Robur is an industrial service provider that focuses on assisting companies with digital transformation and ecological change. Its services include planning and realisation, operation and maintenance, relocation, and dismantling and disassembly. The GP owns the company via its debut fund.

“We are still debating whether we want to exit any of our portfolio, it could definitely still happen this year,” Beringer said. “The development of our businesses is favourable, but the market might not be favourable for exiting.”

Aside from deals, the GP’s future plans include preparing for its next fundraise. “We will discuss raising the next fund in September or October as it depends on our deployment,” Beringer said. “If we deploy fast, we could come to the market earlier, but a reasonable goal would be 2023.”

© Mergermarket Limited, 10 Queen Street Place, London EC4R 1BE

GREENPEAK Partners becomes a signatory to Initiative Climat International (iCI)

GREENPEAK Partners signatory of initiative climat international

GREENPEAK Partners is pleased to announce it has become a signatory to Initiative Climat International (iCI). The decision to join iCI is an important step on GREENPEAK’s sustainability journey, reflecting its deep commitment to integrating ESG principles in its investment thesis.

iCI is a platform of leading private equity investors under the umbrella of the UNPRI dedicated to play a crucial part in reducing carbon emissions from private equity-backed companies. iCI signatories commit to jointly work towards reaching the goals of the 2015 Paris agreement on limiting CO2 emissions. Collaboration is a key driver for iCI. Its members commit to sharing best practice, key learnings and resources to accelerate change.

Daniel Beringer, Managing Partner of GREENPEAK Partners states: “GREENPEAK’s investment philosophy is highly aligned with iCI’s collaborative approach of experience sharing and working together towards a common goal. Our focus on establishing a partnership culture in the businesses we build allows us to scale the efforts to reach the goals of the Paris Agreement.”

Michael Ruoff, Managing Partner of GREENPEAK Partners adds: “We recognize that climate change will have an adverse effect on the global economy. This generates both risks and opportunities for our investments which we have committed ourselves to address in the best possible way.”

Valentina Stadler, ESG Officer, GREENPEAK Partners highlights: “We at GREENPEAK Partners are deeply committed to a sustainable future. ESG is deeply engrained in our corporate culture and an integral part of our investment DNA. Joining forces with other iCI members on addressing climate change will propel us forward in reaching our key ESG goal to reduce GHG emissions across all GREENPEAK companies.”

GREENPEAK Partner’s commitments include

  • As a member of the Initiative Climate International (iCI), we have joined forces with the international private equity community to contribute to The Paris Agreement to limit global warming to well below two degrees celius, and in pursuit of 1.5%.
  • We will actively engage with our partner companies to establish measurement of their CO2 emissions and set an ambitious, but realistic reduction target – and will do the same for ourselves at fund level.
  • We will support and promote the iC International among private equity firm peers.

GREENPEAK Partners is a team of investment professionals driven by our purpose to “build businesses and partnerships”. We believe that a sustainable economy is built by entrepreneurs with a vision to combine economic success with the achievement of ecological, social and governmental (ESG) criteria beyond today’s standards. We are a company builder with proven track record and comprehensive expertise in the foundation, development, and expansion of industry leaders within the German, Austrian, and Swiss markets. While executing its Buy & Build strategies, GREENPEAK aims at developing industry leaders by virtue of strong and close partnerships, ESG values, and aligned sustainable interests.

For more information on GREENPEAK, please refer to our website & our ESG policy.

Top rankings at Great Place to Work 2021

Yesterday, Great Place to Work held its online awards ceremony for the best employers with more than 50 employees, where St. Vinzenz Allgäu learned about its rankings:

Germany’s Best Employer

(Companies with 251-500 employees)

18th place
18th place
Germany’s Best Employer

(Companies with 251-500 employees)

Best Employer Clinics

(Clinics with 50 or more employees)

2nd place
2nd place
Best Employer Clinics

(Companies with 251-500 employees)

Bavaria’s Best Employers

(Companies with 251-500 employees)

4th place
4th place
Bavarias´s Best Employers

(Companies with 251-500 employees)

Best employers Allgäu

(companies with 50 or more employees)

2nd place
2nd place
Best employers Allgäu

(Companies with 251-500 employees)

St. Vinzenz Allgäu was recognized for the first time as one of the best employers in Germany in a cross-industry comparison. In Bavaria and the Allgäu region, no distinction is made between sectors either. In addition, as in 2009, 2012, 2015 and 2018, the award was given in the category of hospitals, in which hospitals from all over Germany are evaluated. A total of 149 companies from all over Germany were honored yesterday.

Foundation of ACADEMIA, a dedicated Buy & Build concept within the special laboratory space

We are excited to announce that GREENPEAK Partners today officially launched its special laboratory Buy & Build strategy ACADEMIA. The group aims to partner with pathologies, human genetic and hemostaseology laboratories in Germany to generate superior results for practitioners and patients alike.

With Marcus Geier, GREENPEAK Partners managed to sign an experienced industry expert with strong track record in the Healthcare market as CEO for ACADEMIA. With the acquisition of an authorized hospital ACADEMIA has created the basis for a partnership with leading laboratories.

About GREENPEAK Partners

GREENPEAK Partners is a company builder with proven track record and comprehensive expertise in the foundation, development, and expansion of industry leaders within the German, Austrian, and Swiss markets. While executing its Buy & Build strategies, GREENPEAK aims at developing industry leaders by virtue of strong and close partnerships, ESG values, and aligned sustainable interests.

PARATUS - our Healthcare Software & IT-Service Buy & Build Group

We are happy to announce that we have added another group. PARATUS is set to become the leading Software and IT-Service Company within the German Healthcare market. Through partnering with of small-cap software and IT-Service companies within dedicated healthcare niche verticals PARATUS aims to deliver real benefits to their partners and customers. Among other things, PARATUS will support group members and their customers in overcoming regulatory challenges emerging from new data security laws, to promote further growth and digitizating in the Health-IT sector.

About GREENPEAK Partners

GREENPEAK Partners is a company builder with proven track record and comprehensive expertise in the foundation, development, and expansion of industry leaders within the German, Austrian, and Swiss markets. While executing its Buy & Build strategies, GREENPEAK aims at developing industry leaders by virtue of strong and close partnerships, ESG values, and aligned sustainable interests.

Incorporation of CERTANIA, our TIC focused Buy & Build Platform

We are pleased to announce the incorporation of another platform for our GP II Fund. CERTANIA is set to become a leading ecologically oriented Testing, Inspection, and Certification provider with a dedication to supporting customers as an independent partner to ensure quality, sustainability, and transparency along its value-chain.

CERTANIA benefits from its experienced management team, consisting of experts from the TIC industry.

About GREENPEAK partners

GREENPEAK Partners is a company builder with proven track record and comprehensive expertise in the foundation, development, and expansion of industry leaders within the German, Austrian, and Swiss markets. While executing its Buy & Build strategies, GREENPEAK aims at developing industry leaders by virtue of strong and close partnerships, ESG values, and aligned sustainable interests.

Our new Building Services Strategy, aiming to decarbonise the housing sector, has officially launched

GREENPEAK Partners

We are pleased to share the incorporation of our Building  Service platform. The company sees itself as a pioneer in driving ecological change within the German-speaking building service market, facilitating opportunities to achieve CO2 reduction. The HVAC market in Germany is characterised as highly fragmented and non-cyclical, which offers substantial consolidation potential. Additionally, the market is benefiting from several technologisation, social trends, as well as environmental policy requirements.

About GREENPEAK Partners

GREENPEAK Partners is a company builder with proven track record and comprehensive expertise in the foundation, development, and expansion of industry leaders within the German, Austrian, and Swiss markets. While executing its Buy & Build strategies, GREENPEAK aims at developing industry leaders by virtue of strong and close partnerships, ESG values, and aligned sustainable interests.