Avega: new era begins for Luxembourg corporate services pioneer
Fourteen years after its establishment to serve the private equity industry, Avega’s Management Buyout reflects a company DNA rooted in family culture, service quality and long-term relationships underpinned by the fast-expanding group’s continuing independence.
Avega in short
Avega was established in 2006 to seize the opportunities of the burgeoning private equity boom, starting with a handful of people focusing on accounting and corporate services, and has grown steadily by responding to its clients’ needs. Over the years, the Avega Group has added several businesses specialised on tax services, audit and liquidation services. Recently in 2020 the Group further expanded its range of services by launching an alternative investment fund manager (Avega Capital Management) servicing private markets clients. This hands-on in-house approach, executed by a highly qualified team, has enabled Avega to establish a strong position as a trusted partner in international private equity, real estate, debt and infrastructure investments. With subsidiaries in the Netherlands, France and Spain the Avega Group is able to offer the same range of services across several European countries. By its international competence the Avega Group has become a trusted partner for investors across all jurisdictions, incl. the DACH region through its German speaking competence. The Avega Group further expanded over the past years its workforce to 140 people, including 125 in Luxembourg. In 2018 the company moved to its new headquarters at 2, rue Edward Steichen Luxembourg-Kirchberg, but the completion of the Management Buyout was an even bigger milestone in late 2020.
"Our DNA encompasses a family culture, long-term relationships, and high quality at every level."
Avega’s founders, Stefan Lambert and Dr. Wolfgang Zettel, were regularly approached to sell the business by private equity firms and competitors. Advised by NovitasFTCL, a London-based corporate finance boutique that specialises in M&A and capital raising, their decision to opt for a management buyout is aligned with the company’s DNA. This encompasses three key priorities: a family culture with a very low staff turnover, long-term relationships and high quality at every level. This evolution offers Avega’s clients the reassurance that their partner continues to focus exclusively on delivering state of the art services, while employees can look forward to a future of continued independence and ongoing growth.
New owners, existing fundamentals
The firm’s new owners, Stefan Ruppert, Thomas Weber and Thomas Probst have drawn up a very clear roadmap for the coming years. The founders will remain actively involved within the business to ensure a smooth handover to the MBO team. The main focus of the new owners is to stay true to the firm’s fundamentals in order to achieve sustainable growth. Says Ruppert: “Our mission is simple: we help private equity houses to set up their European investments, and provide services throughout the whole life cycle.” Avega’s independence will ensure that clients will continue to be served according to the same standards, while the size of the business enables new clients to be onboarded seamlessly. “Our level of expertise ensures a quick turnaround in setting up structures,” Weber comments. But they will also add their personal focus: “Today besides innovation and technology, a familiar and trusted working atmosphere with highly motivated staff is instrumental in enhancing our performance,” Probst says.