3i sells German portfolio to Heidelberg

3i Group has sold 23 minority stakes in German firms to Heidelberg Capital for an undisclosed sum. This represents the second portfolio of legacy investments 3i has divested in the past two months as part of its plan to sell off small and medium-sized companies it bought into over a decade ago.

The portfolio comprises four listed companies, including pharmaceuticals supplier 4SC, Swiss biotech fund HBM, nanotech company Nanogate and software business Magix. Other firms being sold include sports shoe supplier Framas, stair company Fuchs and brake business TMD Friction.

Founded last year, Heidelberg Capital received EUR150m of financing from US asset manager Auda to fund the acquisition, according to press reports.

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