BWK Unternehmensbeteiligungsgesellschaft

BWK GmbH Unternehmensbeteiligungsgesellschaft (BWK) is a German investment holding company headquartered in Stuttgart. Founded in 1990, it focuses on acquiring minority and majority stakes in mid-sized companies (Mittelstand) across the German-speaking region of Germany, Austria and Switzerland (D-A-CH). The company has a stable shareholder structure: its largest shareholders are Landesbank Baden-Württemberg (LBBW) with 40 percent and the insurance group Wüstenrot & Württembergische with 35 percent. Further stakes are held by the Hertie-Stiftung (15 percent) and the Landeskreditbank Baden-Württemberg Förderbank (L-Bank) (10 percent). BWK invests in succession solutions, shareholder changes (MBO/MBI), capital increases for investments or growth strategies, and the acquisition of minority stakes. It does not interfere in day-to-day operations, leaving these to management, but accompanies portfolio companies through advisory and supervisory boards. The financial lower limit for an investment is 7 million euros. Target companies are primarily mid-sized businesses with a successful business model, strong cash flow and annual revenue of at least 15 million euros. BWK has no specific industry focus and invests across sectors in the D-A-CH region. Since its founding, BWK has invested in more than 70 participations. Past portfolio companies have included Bechtle AG (IT), Mahle Behr GmbH & Co. KG (automotive supplier), R-Biopharm AG (biotechnology) and Trumpf GmbH & Co. KG (mechanical engineering). As of August 2026, the current portfolio includes Coffee Fellows GmbH, CruiseVision GmbH, CONSILIO GmbH, Erpo Möbelwerk GmbH, heute-wohnen-Gruppe, HORA eTec GmbH, IMS Gear SE & Co. KGaA, KRUG Holzsystembinder GmbH, ndd Medizintechnik AG, QLOCKTWO Gruppe, RAFI GmbH & Co. KG and VTQ Videotronik GmbH. The supervisory board consists of six members, chaired by Joachim Erdle, who is also a board member of Landesbank Baden-Württemberg. Other members include Jacques Wasserfall (deputy chairman, chairman of the board of Württembergische Lebensversicherung AG), Ann-Kristin Stetefeld (board member of Baden-Württembergische Bank), Armin Beerwart (head of W&W Asset Management GmbH), Rainer Maucher (managing director of Gemeinnützige Hertie-Stiftung) and Katrin Abt (economist at Landeskreditbank Baden-Württemberg-Förderbank).

BWK GmbH Unternehmensbeteiligungsgesellschaft was founded in 1990 with its seat in Stuttgart. From the outset, it was designed as a long-term investment holding company with a stable shareholder base. Its largest shareholders are Landesbank Baden-Württemberg (LBBW) with 40 percent and the insurance group Wüstenrot & Württembergische with 35 percent. The remaining shares are held by the Hertie-Stiftung (15 percent) and the Landeskreditbank Baden-Württemberg Förderbank (L-Bank) (10 percent). This shareholder structure has remained stable since the company's founding. Since 1990, BWK has invested in more than 70 participations. Its investment approach focuses on mid-sized companies in the German-speaking D-A-CH region (Germany, Austria, Switzerland). The company engages in succession solutions, shareholder changes such as management buy-outs (MBO) and management buy-ins (MBI), capital increases for investments or growth strategies, and the acquisition of minority stakes. BWK does not interfere in the operational day-to-day business, which is left to the management of the portfolio companies. Instead, it accompanies its investments through advisory and supervisory boards. The financial lower limit for an investment is 7 million euros, and target companies are expected to have a successful business model, strong cash flow and annual revenue of at least 15 million euros. BWK has no specific industry focus and invests across sectors. Over the decades, BWK's portfolio has included companies from various industries. Past investments include Bechtle AG (IT), Mahle Behr GmbH & Co. KG (automotive supplier), R-Biopharm AG (biotechnology) and Trumpf GmbH & Co. KG (mechanical engineering). As of August 2026, the current portfolio comprises twelve companies: Coffee Fellows GmbH (since 2015), CruiseVision GmbH (since 2018), CONSILIO GmbH (since 2026), Erpo Möbelwerk GmbH (since 2013), heute-wohnen-Gruppe (since 2022), HORA eTec GmbH (since 2017), IMS Gear SE & Co. KGaA (since 1999), KRUG Holzsystembinder GmbH (since 2022), ndd Medizintechnik AG (since 2015), QLOCKTWO Gruppe (since 2020), RAFI GmbH & Co. KG (since 2015) and VTQ Videotronik GmbH (since 2024). The supervisory board of BWK consists of six members. Its chairman is Joachim Erdle, who is also a member of the board of Landesbank Baden-Württemberg. The deputy chairman is Jacques Wasserfall, chairman of the board of Württembergische Lebensversicherung AG. Further members are Ann-Kristin Stetefeld (member of the board of Baden-Württembergische Bank), Armin Beerwart (head of W&W Asset Management GmbH), Rainer Maucher (managing director of Gemeinnützige Hertie-Stiftung) and Katrin Abt (economist at Landeskreditbank Baden-Württemberg-Förderbank).

• 2026

  Investment in CONSILIO GmbH begins.

• 2024

  Investment in VTQ Videotronik GmbH begins.

• 2022

  Investments in heute-wohnen-Gruppe and KRUG Holzsystembinder GmbH begin.

• 2020

  Investment in QLOCKTWO Gruppe begins.

• 2018

  Investment in CruiseVision GmbH begins.

• 2017

  Investment in HORA eTec GmbH begins.

• 2015

  Investments in Coffee Fellows GmbH, ndd Medizintechnik AG and RAFI GmbH & Co. KG begin.

• 2013

  Investment in Erpo Möbelwerk GmbH begins.

• 1999

  Investment in IMS Gear SE & Co. KGaA begins.

• 1990

  BWK GmbH Unternehmensbeteiligungsgesellschaft is founded in Stuttgart.

A stable, regionally focused private equity partner for mid-sized companies in the German-speaking D-A-CH region, backed by major German financial institutions and foundations.

Product categories. Private equity investments · Minority and majority stakes in mid-sized companies · Succession solutions · Management buy-outs (MBO) and management buy-ins (MBI) · Growth capital

1. 1BWK Unternehmensbeteiligungsgesellschaft – Wikipediade.wikipedia.org
2. 2BWK Unternehmensbeteiligungsgesellschaft – Wikidatawikidata.org