Click on headlines below to download research

MUX
Termination of coverage | 29/12/2021

Edison Investment Research is terminating coverage on Gamesys Group (GYG), Mutares (MUX) and MedservRegis (MDS). Please note you should no longer rely…

Targeting a 10%+ AUM and NAV CAGR to FY24
Deutsche Beteiligungs | 17/12/2021

Deutsche Beteiligungs (DBAG) posted a NAV total return (TR) of 35.3% in FY21 (to end-September 2021). This return is in line with public and private equity…

Updating estimates
Evolva | 07/12/2021

On 30 November, Evolva announced a private placement whereby Veraison SICAV would purchase 63.75m shares at CHF0.118 per share, or a 7% discount to the…

Bolstering the balance sheet
Evolva | 02/12/2021

Evolva has announced a private placement whereby Veraison SICAV will purchase 63.75m shares in a private placement at CHF0.118 per share, or a 7% discount…

Termination of coverage
Termination of coverage | 30/11/2021

Edison Investment Research is terminating coverage on FinLab (A7A), The Scottish Investment Trust (SCIN), and Telix Pharmaceuticals (TLX). Please note…

Business Keeper a keeper
EQS Group | 16/11/2021

EQS Group’s Q3 figures show the boost given to its whistleblowing offering by the June acquisition of Business Keeper, lifting the total number of…

New capital to fuel growth
The NAGA Group | 15/11/2021

The NAGA Group is a fintech start-up in social trading with a flagship product (Naga Trader) and supplementary services. Headquartered in Hamburg, the…

PE fund signs its first transaction
SGT German Private Equity | 12/11/2021

SGT German Private Equity (SGT) is continuing its transition from a venture capital (VC) investor to an asset manager after the merger with SGT Capital…

Changes to group structure on the horizon
publity | 12/11/2021

On 19 October 2021, publity announced a European consortium led by a Luxemburg investment company has signed a Letter of Intent to become the new majority…

Planning a game-changing acquisition
mVISE | 12/11/2021

Significant changes are afoot at IT consulting company mVISE. Swiftly responding to deteriorating operations (H121 sales down 23% and EBITDA down 50% vs…

Primed to execute on its growth strategy
MagForce | 10/11/2021

MagForce continues to pursue its two-pillarMagForce continues to pursue its two-pillar strategy to drive uptake of its nanotechnology-based thermal ablation…

Customer engagement intensifying
Mynaric | 10/11/2021

During H121 Mynaric continued to broaden its customer base and expand capacity. This is in readiness to supply the requirements of the US Space Development…

Primed to execute on its growth strategy
MagForce | 10/11/2021

MagForce continues to pursue its two-pillar strategy to drive uptake of its nanotechnology-based thermal ablation treatment, NanoTherm. In the United States,…

Entering its next growth phase
CLIQ Digital | 09/11/2021

CLIQ Digital’s Q3 results were strong, with gross revenue of €40m (+35% y-o-y, +21% q-o-q) and EBITDA of €7.4m (+63% y-o-y), growing…

Capturing the market opportunity
CLIQ Digital | 04/11/2021

CLIQ Digital is a leading European content provider, which has seen strong revenue growth and margin improvement in 2021, underpinned by its new media…

Focused on growing automotive technology
paragon | 03/11/2021

paragon’s renewed focus on its core Automotive operations should soon be confirmed by the divestment of Voltabox. The refreshed strategy remains…

FY21 outlook confirmed
Mensch & Maschine Software | 02/11/2021

After returning to growth in Q221, Mensch und Maschine (M+M) reported 15.3% y-o-y revenue growth and 10.6% EBIT growth for Q321. Management maintains its…

The roar of the fans
Borussia Dortmund | 01/11/2021

Borussia Dortmund has an established track record as one of the most successful football clubs in Europe. This enables it to exploit structural tailwinds,…

Executive interview with Nicolas Paalzow, CEO of Pantaflix
Executive interview with Nicolas Paalzow, CEO of Pantaflix | 29/10/2021

In this interview, Pantaflix CEO Nicolas Paalzow outlines the group's operations. He then explains how the COVID-19 pandemic has disrupted the industry…

New investments under new management
Heliad Equity Partners | 29/10/2021

Heliad Equity Partners (HEP) has recently become more active, with a mid-double digit million-euro amount invested across several private companies under…

Seeking higher levels of growth
JDC Group | 28/10/2021

Bancassurance advisory and service platform JDC Group is quickly adding large new clients to its insurtech platform. The platform, which was originally…

Progressing towards cash break-even
Evolva | 28/10/2021

Evolva has undergone a transformation from an R&D-driven enterprise to a commercial company with a product-based revenue model. Its H121 results demonstrated…

German private equity investor and manager
Deutsche Beteiligungs | 27/10/2021

Deutsche Beteiligungs (DBAG) is a well-established player in the German private equity (PE) mid-market. It has been increasing its exposure to new ‘growth’…

Back on track
DATAGROUP | 25/10/2021

IT services provider DATAGROUP has recovered from a difficult 2020, driven by a turnaround in its Financial IT Services (FIS) unit. The M&A-driven business…

Strong base for organic and M&A growth
Deutsche Börse | 25/10/2021

Deutsche Börse (DB1) is a leading European capital markets infrastructure provider with activities across pre-trading, trading and clearing, and post-trade…