Winterberg Investment X, an investment fund advised by Winterberg Advisory GmbH, has successfully completed its second closing round, significantly exceeding its capital target. Originally set between 20 and 25 million euros, the fund achieved a maximum limit of 35 million euros, which includes future commitments from management.
Following two acquisitions, the fund is set to further develop its Swiss buy, build, and technologize platform in the accredited testing, inspection, and certification (TIC) services sector. The objective is to pursue additional acquisitions of small and medium-sized Swiss companies within this industry.
Located in Baar, Switzerland, on October 28, 2025, Winterberg, alongside funds advised by Yana Investment Partners, a prominent European small-cap investment specialist, established TIC Holding Schweiz AG as a platform aimed at creating a leading provider of accredited TIC services in Switzerland. To date, two companies have been acquired, with a third transaction expected to close soon.
Through its subsidiaries, Metron Measurement SA and TransGeo AG, TIC Holding Schweiz AG specializes in the calibration of tools and measurement instruments, as well as conducting chemical, mechanical, and other testing on industrial materials and products, including construction materials. All group companies are accredited by the Swiss Accreditation Service (SAS).
The demand for these services is on the rise, driven by increasing regulatory requirements, making the sector resilient to crises and highly attractive to investors. Fabian Kröher, chairman of the board of TIC Holding Schweiz AG and partner at Winterberg, stated, “Following the successful launch of TIC Holding Schweiz, a promising portfolio of potential acquisitions, and strong financial performance from our portfolio companies, our fund”s second round was significantly oversubscribed, with total potential commitments exceeding 50 million euros.”
Ralph Nowak, a partner at Winterberg, added, “We are currently in discussions with several additional targets, particularly entrepreneurs seeking long-term succession solutions. In this context, we are fully confident in our ability to create another relevant Swiss industrial group and to invest our investors” capital efficiently and responsibly.”
Dr. Hanspeter Bader, founding partner of Yana Investment Partners and a member of the board of TIC Holding Schweiz AG, remarked, “The extraordinary demand from investors in this second round exceeded all our expectations. We are very pleased with the progress of the investment and proud to have identified the group”s potential from an early stage. As a lead investor and board member, we look forward to continuing to help define the strategic direction of TIC Holding Schweiz AG alongside Winterberg.”
TIC Holding Schweiz AG aims to become one of Switzerland”s leading business groups, placing the customer at the center of its operations. The company emphasizes quality, excellence, and diversity while actively seeking small and medium-sized enterprises in the accredited TIC services sector, preferably in business succession scenarios. By fostering an entrepreneurial culture and incorporating advanced technologies across its corporate areas, the group aims for above-average growth and profitability.
Winterberg Advisory GmbH, based in Grünwald near Munich, manages private equity funds primarily focused on succession solutions for small- and mid-cap segments. Based on this foundation, it develops buy-build-and-technologize platforms, including the current TIC Holding Schweiz AG and Healthcare Holding Switzerland AG.
Winterberg Group AG, located in Zug, Switzerland, operates as an independent family office investing in private equity—including funds managed by Winterberg—as well as selectively in real estate and other asset classes. Both Winterberg Advisory and Winterberg Group are led by founding partners Florian Brickenstein, Fabian Kröher, Ralph Nowak, and Lorenzo Tencati.
Yana Investment Partners collaborates with institutional investors, family offices, and asset managers to invest directly in high-potential private companies across Europe. Through its funds, Yana acts as an active owner in highly attractive, entrepreneurial, and innovative “off-market” investments, managed in an organized way with a focus on risk control. Investments are made through systematic partnerships with independent private equity sponsors, focusing on small-cap investments.
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Note to editors: Please mention Winterberg Advisory GmbH in all references to the statements and information contained in this release. For more information about TIC Holding Schweiz AG, visit www.tic-holding.ch. For details on group companies, visit www.metron-labo.ch and www.transgeo.ch. For more information about Winterberg Advisory GmbH and Winterberg Group AG, visit www.winterberg.group. For details on Yana Partners, visit www.yana.partners. Information about the Swiss platform Healthcare Holding Switzerland AG, also managed by Winterberg, can be found at www.healthcare-holding.ch.
This press release has been prepared and distributed by Winterberg Advisory GmbH on behalf of TIC Holding Schweiz AG.
