Hannover Finanz
The company

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Hannover Finanz has served as the equity capital partner for medium-sized family businesses in Germany, Austria, and Switzerland since 1979, and it is itself a second-generation family-run company. Here, entrepreneurs converse about equity capital. Hannover Finanz employs approximately 30 individuals in Hanover, Frankfurt am Main, and Vienna.

HF Debt GmbH, established in 2017, operates independently in the private debt market segment.

We are among Germany’s longest-standing and most experienced investment firms. So far, we have successfully supported over 250 companies. The investment portfolio we currently manage includes around 35 companies with over 15,000 employees and a combined turnover exceeding 4 billion euros.

Medium-sized, owner-managed companies opt for Hannover Finanz due to its extensive experience and long-term focus. The evergreen funds we oversee lack a maturity limit, which is unusual in the private equity sector. This allows us to maintain investments in a company for as long as deemed appropriate by all parties involved. This positions us as a dependable and forward-thinking partner for companies aspiring to achieve sustainable growth.

For decades, Hannover Finanz has effectively supported renowned companies like Fielmann, Rossmann, Aixtron, and Technotrans in their entrepreneurial journey, often spanning over 20 years.

misson statement

We create value Entrepreneurs and investors have trusted us for over 40 years.
Succeed together We are entrepreneurs. We aim to bring ideas to life, focusing on long-term and sustainable success.
Reliability and integrity We trust and respect each other. We act responsibly and in partnership.
We understand SMEs We are familiar with the environment and the needs of entrepreneurs and companies. Together, we find the best solutions on an individual basis.
Personality Our team embodies diverse experiences. We leverage these for the benefit of our companies, with a great enthusiasm for innovation.
Partnership on equal footing We engange in open dialogue. Together, we find the best path forward.
FocusAs entrepreneurial partners, we enable growth and change.

Participation occasions
at a glance


Founding of
the company

2 b

invested in
250 companies


companies in 
the portfolio

700 m

in assets under 


employees in
the group

4 b

group´s sales

> 30



locations: Hannover,
Frankfurt am Main, Wien

Investors of
Hannover Finanz

Our capital is provided by a large number of German institutional investors such as banks, insurance companies and professional pension schemes. Our investors also include wealthy private individuals and former shareholders of portfolio companies.

Hannover Finanz’s investors include, among others

Commerzbank AG
Hannover Rück SE
Die Continentale
Baloise Lebensversicherungs-AG
Mecklenburgische Lebensversicherungs-AG
Berufsständische Versorgungswerke 
SIGNAL IDUNA Select Invest GmbH
NÜRNBERGER Lebensversicherung AG
Gehrke Treuhand GmbH

What investors say

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The investors in the Hannover Finanz Group primarily consist of insurance companies, professional pension schemes, and banks. Hannover Re, ranked as the world’s third-largest reinsurer, not only invests in two of the funds managed by Hannover Finanz but also holds the most significant stake as the leading shareholder, along with the management of Hannover Finanz, each holding 28% of the shares. Former Hannover Re CFO (until 2020), Roland Vogel, who served as the Chairman of the Advisory Board of the equity partner starting from 2020 and has been Deputy Chairman of the Advisory Board since 2021, discusses the benefits that companies like Hannover Re offer to their policyholders by investing in the funds managed by Hannover Finanz.

Investment strategy

On average, Hannover Finanz has invested in medium-sized family businesses operating in stable and expanding markets for a duration ranging from eight to ten years. We stand as a primary partner for entrepreneurs and management teams with growth aspirations, particularly in service- or technology-driven B2B niche sectors.

Traditionally, our focus lies on entrepreneurial SMEs, with investors entrusting us with their capital for the long haul. With our evergreen structure, investment terms can align with a company’s objectives rather than being constrained by fund terms.

Backed by our team and extensive network, we boast experience from over 250 completed investments across various sectors. Leveraging this experience, along with our networks and market insights, we zero in on B-2-B markets, particularly in IT services, software, advanced industrials, medical technology, and business services.

The ESG segment holds significant importance for us, encompassing companies whose business models prioritize sustainable resource utilization. The Hannover Finanz team possesses substantial expertise in this area, bolstered by ongoing investments.

Investment Criteria

>3 m


>20 m


15 – 50 m

Equity per investment

We focus our investments on medium-sized companies headquartered in the DACH region, typically generating sales exceeding 20 million euros and an operating result (EBITDA) surpassing 3 million euros. Our equity investments range between 15 and 50 million euros per venture, which may be supplemented with moderate debt financing depending on the investment’s purpose. Apart from acquiring majority stakes, Hannover Finanz stands out as one of the few investment firms in Germany offering minority shareholdings.

Our primary consideration lies in identifying companies with a distinctive market position and growth potential, often rooted in structurally expanding markets with favorable market dynamics. We also support growth acceleration through strategic consolidation strategies, known as “buy-and-build,” where deemed strategically beneficial.

We prioritize companies with stable, enduring customer relationships and consistently healthy profit margins, which we believe provide a strong foundation for appropriately seizing growth opportunities.

We do not participate in early-stage and project financing.

value proposition

The entrepreneurial venture of turning ideas and plans into reality requires an independent, entrepreneurial equity partner. Joint success is what drives us. Our partnership, network, and the support we provide to companies represent our true value addition.

And not to forget: The management of Hannover Finanz is itself involved in the company. Here, entrepreneurs engage with fellow entrepreneurs!

All our investments are centred around one objective: sustainable growth. Companies that achieve this typically experience an increase in value, which benefits all stakeholders.

While the operational management of the company is handled by the management team, our collaborative discussions focus on strategic insights. We refrain from interfering in the day-to-day operations of our portfolio companies but place significant emphasis on aligning their core competencies with management and directing them toward long-term strategy and value enhancement.

Our approach typically involves a well-crafted strategy that aligns the interests of all stakeholders towards a common goal and raises mutual expectations for long-term collaboration. This includes creating a transparent basis for discussion (financial excellence) and support to orchestrate the implementation of this strategy with the right talent and processes (human resources). We draw on our own resources and experts from our network as required.

Many of our portfolio companies are also supported by an advisory board. We select the advisory board members together with the management. The aim is always to jointly create added value for the company. We find advisory board members in our network of industry specialists and experienced entrepreneurs, which has grown over four decades, and who passionately fulfil the role of sparring partners for the management.


Hannover Finanz is aware of its impact on the environment and society and recognizes this as both a responsibility and an opportunity. Our team and our portfolio companies are determined to make positive and valuable contributions – for shareholders, clients, employees, our environment, our society and our investors.

Hannover Finanz is a signatory to the United Nations Principles for Responsible Investment (UNPRI), a supporter of the Alliance for Development and Climate and has been climate-positive since 2021. We endeavour to promote ESG principles (Environmental, Social, Corporate Governance) and are convinced that companies with a sustainable business model have a positive impact on society and at the same time have the best chance of experiencing long-term value growth. We collect ESG information and key figures from our portfolio companies and are dedicated to continuously improve these key figures.

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