KPMG's "Pulse of Private Equity" series analyses global and regional private equity activity on a quarterly basis. It is based on an integrated methodology that combines various data sets - and thus offers much more than a snapshot of classic buyouts: the reports cover the entire spectrum of relevant PE deals. The aim is to provide stakeholders with insights into the changing private equity landscape in order to support investment decisions and understand long-term market movements.
Transaction landscape in Germany
Between the first and second quarters of 2025, Germany experienced a slight decline in private equity investment, from US$16.9bn across 214 deals to US$15bn across 148 deals. Despite the decline, there were notable highlights, particularly in the fintech and utilities sectors. One outstanding deal was the USD 2 billion buyout of cloud security company Hornetsecurity by Proofpoint. In addition, Stonepeak and Energy Equation Partners secured a majority stake in JET Tankstellen Deutschland for USD 1.6 billion. These transactions show that the investment landscape in Germany continues to be characterised by significant deals.
Tilman Ost
Partner, Deal Advisory, Private Equity, Global Private Equity Advisory Leader
KPMG AG Wirtschaftsprüfungsgesellschaft
