AFINUM takes majority stake in P36
Context
Afinum invested in p36, the German software provider serving the life science and medtech industries, through its Afinum 9 fund, in a transaction announced on 18 February 2026. Founders Robin Wennemuth and Patrick Pfau reinvested alongside the firm and stayed on as managing directors. At the time of the deal, the company employed 47 people. The investment extended a strategy of building a group of SAP-based vertical software companies serving the life science sector, which Afinum had begun with mymediset. Both businesses sell products that run inside the SAP systems their customers already use, and the fund expected demand to grow as regulatory and compliance requirements become more complex. Alvarez & Marsal advised Afinum on the M&A side, with Greenfort as legal counsel, while valantic and Ebner Stolz carried out due diligence.
P36, which reported an EBITDA margin of [members only] in 2026, is valued in this transaction at an EV/EBITDA multiple of [members only], to compare with the average currently observed in the TMT (Tech, Media, Telecom) sector (14.6x).
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Target
Founded in 2015 by Robin Wennemuth and Patrick Pfau, p36 develops software that helps life science and medical device companies meet their regulatory obligations. Its Unique Device Identification suite automates the registration and tracking of medical devices required by regulators in each market, from assigning identifiers to filing the data in national databases. Its Cloud Service Qualification product documents and verifies that the cloud infrastructure a company uses complies with GxP rules, the quality standards governing regulated manufacturing. Its products run within the SAP environment its customers use, and it sells internationally from its base in Bad Hersfeld, Germany.
Ent. Value
€1–100M
Equity Value
[members only]
Multiples
EV / Revenue
[members only]
EV / EBITDA
[members only]
EV / EBIT
[members only]
Historical Financials (EUR)
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REFERENCES
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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Press release: view release
Target: p36
Acquirer: afinum