In debates about private equity, one myth keeps coming up: “bringing in a fund = losing control.” In reality, for mature family businesses it’s increasingly a pragmatic way to accelerate growth, streamline management, and ensure a safe succession. In this article, we outline the 10 most important reasons to consider a PE partnership — from capital for international expansion and a buy-and-build strategy, through access to industry know-how and digitalisation, to IPO readiness and diversification of the owners’ wealth. We draw on European examples (including Dr. Martens, Birkenstock, De’Longhi) to show how to retain decision-making power while strengthening the business and its value over the next few years. If you’re thinking about scale, professionalisation, or succession — these insights are for you.
Capital for international expansion
Example: Brembo (Italy) – a family-owned manufacturer of braking systems. Investor support enabled acquisitions in the US and China, accelerating the company’s globalisation.
Professionalisation of management
Example: Burger King Spain (family-owned master franchise) – the Cinven fund helped to build a professional management team and introduce reporting standards, which enabled dynamic growth in the number of restaurants.
Ownership succession
Example: Dr. Martens (UK) – the Griggs family sold its shares to the Permira fund. PE helped transform the brand into a global player and prepared the company for its IPO.
Access to industry know-how
Example: Sittard Glass (Germany) – a family-owned technical glass manufacturer, supported by a fund that introduced the company to premium segments and new technologies.
Building value through acquisitions (buy & build)
Example: Poltronesofà (Italy) – the fund enabled rapid acquisitions of smaller furniture brands, consolidating the market and increasing the scale of operations.
Unlocking owners’ capital
Example: Borsalino (Italy, hats) – the family was able to partially monetise its assets while retaining influence over the development strategy and brand.
Preparing for an IPO
Example: Campari family (Italy) – before Campari became a global leader in spirits, funds supported restructuring and professionalisation, which facilitated the subsequent IPO.
Entering new sales channels and digitalisation
Example: Birkenstock (Germany) – the Birkenstock family, in partnership with the L Catterton fund (affiliated with LVMH), accelerated its e-commerce expansion and reached younger consumers.
Risk reduction and asset diversification
Example: Rimowa (Germany, premium suitcases) – the family brought in an investor to reduce its own capital exposure while securing the future of the brand (ultimately a partnership with LVMH).
Maintaining control while strengthening the business
Example: De’Longhi (Italy) – by working with funds in the past, the De’Longhi family was able to raise funds for development while maintaining its dominant strategic role.
Summary
Private equity funds do not necessarily mean “giving up the company”. They are increasingly seen by large family businesses in Europe as a strategic partner for growth, succession and professionalisation. They provide access not only to capital, but also to know-how, networks and experience in building value – often faster and more effectively than the family could do on its own.
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