Annual rank66
Germany · Industrials
MBB
MBB is a family of independent Mittelstand companies working in energy transition, e-mobility, renewable raw materials and cybersecurity.
FY2022–FY2025
FY2022–FY2025
FY2022–FY2025
current context only
Company profile
A listed parent behind five independently managed specialists
MBB SE is a Berlin-based, listed holding and management company, not the manufacturer behind its portfolio. Founders Christof Nesemeier and Gert-Maria Freimuth indirectly own 71%. Five independently managed operating groups span energy infrastructure, automation, cyber security, technical beech materials and tissue products; Aumann, Friedrich Vorwerk and Delignit are themselves publicly traded. On 13 August 2026, MBB sold CT Formpolster and removed the foam-and-mattress business from its current portfolio. The distinctions below keep MBB's capital-allocation and mentoring role separate from subsidiaries' factories, projects, customers and brands.
Ownership and acquisitions
Own funds, indefinite ownership and local authority
MBB seeks established businesses in Europe and the US, normally with at least €25 million revenue and €10–500 million enterprise value, in succession, spin-off or balance-sheet restructuring situations. It says acquisitions use own funds, have no fixed exit horizon and preserve local names, locations and operating responsibility; an MBB mentor becomes management's sparring partner. Economic stake is not the same as operating control. At 30 June 2026, MBB directly held 40.48% of Friedrich Vorwerk, 37.47% of Aumann, 80.00% of DTS, 56.31% of Delignit and 93.01% of Hanke Tissue; the H1 report lists each among the directly held subsidiaries included through full consolidation.
- See who controls the parent Founder ownership, free float and the listed MBB share
- Check the acquisition screen Target size, geographies and transaction situations
- Read the ownership philosophy Own-funds financing, continuity and operating independence
- Verify ownership and control Audited stakes and the consolidation basis at Aumann and Friedrich Vorwerk
Three listed industrial holdings
Grid construction, factory automation and engineered beech
Friedrich Vorwerk plans and builds gas, electricity, hydrogen and district-heating infrastructure. Its 43-km SuedLink civil-works lot was awarded to a consortium in which the group holds 40%; its Statkraft order is for a 10 MW PEM electrolyser whose main construction awaits final authorisations and whose commissioning is scheduled for 2027. Aumann automates motor winding, battery modules and packs, electrode coating and fuel-cell production, while Next Automation addresses aerospace, defence, robotics and life sciences. Delignit turns beech into cargo-area systems, rail floors and protection solutions. On 16 July 2026 Delignit extended its lease of Bellotti's Rail & Marine unit through 31 January 2027; a permanent takeover remained undecided. In H1 2026, Friedrich Vorwerk subsidiary 5C-Tech won a contract to supply highly automated PX-II welding technology for the second line of the Beineu–Bozoy–Shymkent gas pipeline in Kazakhstan. The scope is technology supply, not full pipeline construction.
- Inspect the SuedLink consortium scope A 40% group share in a 43-km civil-works contract
- Follow the Statkraft electrolyser order Authorisation-dependent construction and planned 2027 commissioning
- Follow a battery-module line Inspection, stacking, joining, testing and traceability
- Read the Bellotti lease update Extension through January 2027 while a permanent takeover remains open
- ▶ VideoWatch: automated pipe welding Official English 5C-Tech film introducing the PX-II system
- ▶ VideoWatch: beech becomes a technical material Official English Delignit sustainability and production film
Two privately held operators
Cyber defence and tissue conversion
DTS combines two own certified German data centres with cloud services, proprietary security software and a 24/7 security operations centre; its Meyer & Meyer reference shows continuous monitoring in practice. Hanke Tissue makes parent reels and converts tissue into toilet paper, towels, napkins and facial tissues, sold under “aha” and private labels. At 30 June 2026, MBB directly held 80.00% of DTS and 93.01% of Hanke; both were included through full consolidation. CT Formpolster is excluded because MBB sold it on 13 August.
- Enter the DTS security operations centre Continuous monitoring, detection, analysis and response
- Read a named DTS customer case Meyer & Meyer on DTS Cockpit and 24/7 monitoring
- Browse Hanke's tissue range Reels, napkins, facial tissues, toilet paper and kitchen towels
How the portfolio was built
Succession, carve-outs and public equity without one operating brand
The portfolio followed different paths: MBB combined Claas Fertigungstechnik with Aumann before Aumann's 2017 IPO; backed Friedrich Vorwerk through generational change before its 2021 IPO; and acquired Delignit in 2003 before its 2007 listing. CT came from Continental in 2010; MBB sold the full stake on 13 August 2026 to Nexeras, backed by former MBB CEO Constantin Mang and Christian Theurer. The MBB name itself dates to a 1997 purchase of a former Messerschmitt-Bölkow-Blohm subsidiary from Daimler-Benz Aerospace; today's group should not be mistaken for the aerospace company.
- Trace MBB's own roots The 1995 founding, 1997 name origin and 2006 IPO
- View the current five-company portfolio One holding company and five independently managed operating groups after the CT handover
- Explore Aumann's industrial history The operating company's milestones and technology development
- Trace Delignit's industrial history From a 1799 register entry to today's technical materials
Official profile sources: For Entrepreneurs - Our Acquisition Focus - MBB SE · For Entrepreneurs - Our Acquisition Philosophy - MBB SE · About us - Our Mission - MBB SE · About us - Our Roots - MBB SE
Current 2026 update
What is changing at MBB in 2026?
MBB's portfolio is changing at three levels: CT Formpolster has left, 5C-Tech is supplying automated welding technology to Kazakhstan, and Aumann's incoming-order mix is leaning beyond automotive.
The change in one sentence
The portfolio narrows while subsidiary technology travels outward.
The CT sale reduces the portfolio to five companies, PX-II gains a named Central Asian application and Aumann's new-market order share rises inside a contracting business.
Four lenses on 2026
The same four-quadrant format used in the Company profile.
01 · Portfolio focus
CT Formpolster leaves in a sale to a succession-focused buyer
On 13 August, MBB sold 100% of CT Formpolster, its smallest portfolio company, to Nexeras, a buyer focused on succession solutions. Nexeras is backed by Constantin Mang, who worked in the MBB team and served as Group CEO from 2021 to 2025, and Christian Theurer. MBB bought CT from Continental in 2010, so the transaction closes a holding episode that began in 2010 and reduces the live portfolio from six companies to five: Aumann, Friedrich Vorwerk, DTS, Delignit and Hanke Tissue. MBB says the sale sharpens the portfolio's focus, but does not disclose price, proceeds, valuation, accounting impact or employee commitments. The buyer's succession focus and Mang's former MBB role are notable, but MBB does not describe a formal exit model and the value realised remains undisclosed.
- Current signal100% sold · 2010-2026 holding · portfolio from six to five · terms undisclosed
- Why it mattersThe sale records how one long-held company left MBB's portfolio, while the buyer profile is unusual and the economics remain private.
- CT Formpolster sale MBB · 13 August 2026
- Current five-company portfolio MBB · Checked 28 August 2026
- CT 2010-2026 history MBB · Checked 28 August 2026
02 · Pipeline technology
5C-Tech supplies PX-II welding technology to a Kazakhstan gas line
Friedrich Vorwerk subsidiary 5C-Tech won a contract to supply its highly automated PX-II pipeline-welding technology for the second line of the Beineu–Bozoy–Shymkent long-distance gas pipeline in Kazakhstan. The scope is the welding system, not engineering and construction of the entire pipeline. The corporate chain matters: MBB held 40.48% of Friedrich Vorwerk at 30 June and included it through full consolidation; 5C-Tech is Friedrich Vorwerk's subsidiary. The H1 report does not disclose the contract value, delivery timetable or the award's revenue contribution. It does report strong recruiting, project execution and order conditions at Friedrich Vorwerk, but those broader drivers cannot be attributed to PX-II alone. The named project is therefore product and geography evidence, not a full-project or earnings claim by MBB.
- Current signalPX-II supply contract · second pipeline line · Kazakhstan · no value or schedule disclosed
- Why it mattersA concrete international application shows the reach of a specialised subsidiary technology while keeping MBB and full-project roles separate.
- H1 portfolio and subsidiary review MBB · 13 August 2026
03 · Aumann order mix
Aumann's incoming orders tilt toward Next Automation markets
Aumann's first-half order mix moved away from its prior concentration even as the overall business contracted. Next Automation's share of order intake rose from 24.3% to 57.7%, and MBB says the segment is building a sales pipeline in clean tech, aerospace and life sciences. The denominator matters: Aumann's total order intake and order book were both below the prior year, while revenue fell 34.8% to EUR70.6 million as the issuer described a noticeable reluctance to invest in the automotive market environment. The higher share therefore shows composition within a smaller order base, not a completed transformation. MBB does not report that non-automotive revenue now exceeds automotive revenue, nor that the expanded sales pipeline has converted into signed orders. The next evidence must separate market diversification from recovery in total demand.
- Current signalNext Automation: 24.3% to 57.7% of order intake · total order base lower
- Why it mattersThe mix points toward new end markets, but scale and conversion will determine whether diversification changes Aumann's trajectory.
- H1 portfolio and subsidiary review MBB · 13 August 2026
04 · What to watch
Three questions for the next disclosures
The next disclosures should separate portfolio focus, product reach and order composition from realised value or scale.
- CT handoverAre sale proceeds, accounting effects or transition commitments disclosed after the 13 August handover?
- PX-II deliveryDoes 5C-Tech disclose contract value, timing or further Central Asian applications without expanding the scope beyond technology supply?
- Aumann conversionDoes the Next Automation pipeline become signed orders and revenue while total order intake recovers?
Annual record
Ranking history
Future editions add rows; they do not rewrite the 2026 record.
| Edition | Measurement period | Rank | Revenue growth | Net-income growth | Stock return |
|---|---|---|---|---|---|
| 2026 | FY2022–FY2025 | 66 | +31% | +332% | +136% |