Private Equity Deal Activity in Germany is Accelerating Again

CVC, Apollo, Allianz Global Investors and a long list of other international sponsors are currently closing, structuring, and executing transactions in the German market at a pace that rivals the pre-2022 highs.

Every one of those transactions creates an entity. Often several.

A PE acquisition in Germany typically involves at least one holding company, one operating entity, and frequently one or more special purpose vehicles structured around the target. In many transactions, additional entities are established for financing, co-investment, or management equity participation. Each of those entities typically requires a registered address in Germany, a qualified and experienced managing director who accepts personal liability under German law, a corporate bank account, and ongoing compliance with German corporate governance requirements.

For international PE sponsors that do not maintain a permanent operational presence in Germany, this creates a practical challenge that legal counsel alone cannot address. The deal team knows how to structure the transaction. What they need alongside that is a trusted partner who can take over the operational reality of running the resulting German entities from day one.

This is exactly what Greenfields provides for private equity clients. We act as managing directors for portfolio companies and holding structures, manage all corporate housekeeping obligations including shareholder resolutions and statutory register maintenance, provide registered business addresses for new entities, and support banking and cash management requirements. For time-sensitive transactions where a new entity cannot be registered quickly enough, we offer shelf companies that are incorporated, clean, and ready to deploy immediately.

The deal pipeline is there. The question is whether the operational infrastructure around it is ready.