Winterberg Investment X Closes at Hard Cap Amid Strong Investor Demand
Winterberg Investment X, a fund advised by Winterberg Advisory GmbH, has successfully completed its second closing. The target equity range of EUR 20–25 million was significantly exceeded, with the fund closing oversubscribed at its hard cap of EUR 35 million (including future management commitments). Following two completed acquisitions, the fund will continue to advance its Swiss buy, build and technologize platform in the field of accredited testing, inspection, and certification services, pursuing further acquisitions of small and mid-sized Swiss companies in the sector.
BAAR, Switzerland, Oct. 28, 2025 /PRNewswire/ -- At the end of last year, Winterberg—together with funds advised by Yana Investment Partners, a leading European small-cap specialist—established TIC Holding Schweiz AG as a platform to build a leading provider in Switzerland's accredited testing, inspection, and certification (TIC) market. To date, two companies have been acquired, with a third transaction expected to close shortly.
Through its portfolio companies Metron Measurement SA and TransGeo AG, TIC Holding Schweiz AG operates in the calibration of tools and measurement instruments, as well as in chemical, mechanical, and other testing of industrial materials and products, such as building materials. All group companies are accredited by the Swiss Accreditation Service (SAS). Given the continuous demand for such services—fueled by increasing regulatory requirements—the sector is regarded as both crisis-resilient and highly attractive to investors.
Fabian Kröher, Chairman of the Board of TIC Holding Schweiz AG and Partner at Winterberg, commented: "Following a very successful launch of TIC Holding Schweiz, a promising pipeline of additional acquisition targets, and strong financial performance of our existing portfolio companies, the second closing of our fund was significantly oversubscribed – with total potential commitments of more than EUR 50 million."
Ralph Nowak, Partner at Winterberg, added: "We are currently in discussions with a number of additional targets, particularly successful owner-managers seeking to secure a long-term succession solution. Against this backdrop, we are confident in our ability to build another significant Swiss industrial group and to deploy our investors' capital efficiently and responsibly."
Dr. Hanspeter Bader, Founding Partner of Yana Investment Partners and Board Member of TIC Holding Schweiz AG, noted: "The exceptionally strong investor demand in the second closing exceeded our expectations. We are very pleased with how the investment is developing and proud to have recognized the group's potential early on. As a lead investor and member of the Board, we look forward to continuing to shape TIC Holding Schweiz AG's strategic direction alongside Winterberg."
About TIC Holding Schweiz AG
TIC Holding Schweiz aims to become one of the leading corporate groups in Switzerland, with the client at the center. It also places a strong emphasis on quality, excellence and diversity. The holding company actively seeks small and medium–sized enterprises in the field of accredited testing, inspection and certification services, preferably in succession situations. By fostering an entrepreneurial culture and adopting the latest technologies across all corporate functions, it targets above–average growth and returns. TIC Holding Schweiz is headquartered in Baar, Switzerland.
About Winterberg Advisory GmbH and Winterberg Group AG
Based in Grünwald near Munich, Winterberg Advisory GmbH manages private–equity investment funds focused primarily on succession solutions in the small and mid–cap segment. On this basis, buy–build–and–technologize platforms are developed, such as—currently—TIC Holding Schweiz AG and Healthcare Holding Switzerland AG. Winterberg Group AG, headquartered in Zug, Switzerland, is an independent family office investing in private equity—including funds managed by Winterberg Advisory—as well as selectively in real estate and other asset classes. Both Winterberg Advisory and Winterberg Group are led by their founding partners Florian Brickenstein, Fabian Kröher, Ralph Nowak and Lorenzo Tencati.
About Yana Investment Partners
Yana Investment Partners engages with institutional investors, family offices, and asset managers to invest directly in outstanding privately held companies across Europe. Through its funds and together with its investors, Yana is an active asset owner in highly attractive, entrepreneurial "off-market" investments in an innovative, organised, and risk-controlled manner. Investments are made by systematically partnering with independent private equity sponsors on a deal-by-deal basis with a focus on small-cap investments.
For press enquiries, please contact [email protected]
Note to editors: Please credit Winterberg Advisory GmbH in all references to the quotes and information provided.
Further information on TIC Holding Schweiz AG: www.tic-holding.ch
Further information on the group companies of TIC Holding Schweiz AG: www.metron-labo.ch and www.transgeo.ch
Further information on Winterberg Advisory GmbH and Winterberg Group AG: www.winterberg.group
Further information on Yana Partners: www.yana.partners
Information on the Swiss platform Healthcare Holding Switzerland AG, also managed by Winterberg, can be found at www.healthcare-holding.ch
This press release is prepared and distributed by Winterberg Advisory GmbH on behalf of TIC Holding Switzerland AG.
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