Thyssen'sche Handelsgesellschaft has acquired h/p/cosmos sports & medical GmbH
October 2025 — Thyssen’sche Handelsgesellschaft mbH (THG), a German strategic holding company, has acquired a majority stake in h/p/cosmos sports & medical GmbH. Founder and former sole shareholder Franz Harrer, who built h/p/cosmos into a global leader in niche medical and sports diagnostics equipment, remains invested as a minority partner. THG will support the company’s international growth and innovation plans, while the existing management team continues to run the business.
THG is a traditional German family office with a long-term investment approach focused on value preservation and sustainable growth.
h/p/cosmos is a leading German manufacturer of high-performance treadmill systems and related technologies for diagnostics, rehabilitation and elite sports. Founded in 1988 and headquartered in Traunstein, the company generates around US$20 million (€17 million) in annual revenue, exports approximately 80 percent of its products and serves customers in more than 90 countries worldwide. Its portfolio includes advanced treadmills, ergometers, gait trainers and integrated systems for ergometry, rehabilitation, cardiopulmonary and performance diagnostics, biomechanics and sports science. As a technology pioneer, h/p/cosmos has significantly shaped the global development of treadmill systems through innovations such as the Virtual Split-Belt, perturbation functions, the MDR-certified gaitway 3d treadmill and the patented Robowalk gait trainer.
Our role in the transaction
Oaklins’ team in Germany acted as the exclusive buy-side advisor to THG in the acquisition of h/p/cosmos.
Talk to the deal team
Related deals
Valuation advisory has been provided to a co-investor in VDK
EMK Capital has transferred VDK Groep B.V. from EMK Capital Partners Fund I into the newly established US$1.4 billion single-asset continuation fund, the EMK VDK Partnership Fund, alongside a co-investment from EMK Capital Partners Fund III. The transaction, co-led by LGT Capital Partners and Coller EQT, provides existing investors with the opportunity to retain their exposure to VDK while securing additional capital to support the company’s continued growth and buy-and-build strategy.
Learn moreBe-Cloud has been acquired by PSG Equity
Be-Cloud, backed by B&Capital since 2021, has been acquired by PSG Equity, a leading growth equity firm specializing in software and technology-enabled services. The transaction marks the full exit of B&Capital and the reinvestment of Be-Cloud’s founders, Lenny and Sébastien Vercruysse, alongside PSG Equity.
Learn moreMattina Holding has sold a 5% stake in Gens Aurea via accelerated bookbuild
Mattina Holding S.A. (DVC Partners) has sold a 5% stake in Italian company Gens Aurea S.p.A. through an accelerated bookbuild, raising approximately US$69.96 million.
Learn more