List of 15 Middle-Market Construction Private Equity Firm Investors in Western Europe

Investor	PE Assets $mlns	Portfolio		M&A Activity Buy vs Sell, Last 5 Years
Investor	PE Assets $mlns	Total	Current	M&A Activity Buy vs Sell, Last 5 Years
Ciclad Paris, France Private Equity Firm • 1988 • website See all 12	-	49	37
Nazca Capital Madrid, Spain Private Equity Firm • 2001 • website See all 11	851	44	15
PFH Vicenza, Italy Private Equity Firm • 1982 • website See all 1	451	11	11
Hivest Capital Partners Paris, France Private Equity Firm • 2016 • website See all 3	563	13	9
Süd Beteiligungen Stuttgart, Germany Private Equity Firm • 1970 • website See all 3	563	13	8
CARVEST Lyon, France Private Equity Firm • website See all 1	317	25	24
Sparring Capital Paris, France Private Equity Firm • 2002 • website See all 5	958	40	14
NiXEN Partners Paris, France Private Equity Firm • 1998 • website See all 3	676	38	6
Halder GmbH Frankfurt, Germany Private Equity Firm • 1988 • website See all 3	642	38	8
Anders Invest Maarsbergen, Netherlands Private Equity Firm • 2014 • website See all 8	-	34	33
Private Equity Partners Milan, Italy Private Equity Firm • 1989 • website See all 4	-	25	10
Maj Invest Equity Copenhagen, Denmark Private Equity Firm • 2005 • website See all 12	665	81	8
ADCURAM Group AG Munich, Germany Private Equity Firm • 2003 • website See all 4	338	19	8
Adiuva Capital Hamburg, Germany Private Equity Firm • 2011 • website See all 3	902	8	6
Pechel Paris, France Private Equity Firm • 2004 • website See all 6	620	30	5

Middle-Market Western Europe Construction Private Equity Firm Investors