AURELIUS Growth Investments acquires a stake in Physiotherapy Christian Frei


AURELIUS Growth Investments acquires a stake in Physiotherapy Christian Frei

  • Acquisition of a regionally leading provider of therapy services in the fields of physiotherapy, occupational therapy and logotherapy
  • Previous shareholder Christian Frei retains a significant shareholding
  • Regionally established market position and a highly fragmented market offers a strong platform for growth within a Buy-and-Build framework

Grünwald/Nuremberg, May 26, 2023 – AURELIUS Growth Investments has acquired a stake in Physiotherapy Christian Frei GmbH (Physio Frei), a leading regional full-service provider in the field of therapeutic applications. Physio Frei's range of services covers the entire spectrum of therapeutic treatment methods from physiotherapy and occupational therapy to logotherapy.

Physio Frei operates eight locations in the greater Nuremberg region. Through its comprehensive range of therapies as well as organic and inorganic growth, Physio Frei has become one of the leading providers in the region.

AURELIUS Growth Investments plans to expand Physio Frei with the existing management team over the next few years and sees significant potential in the acquisition of additional practices focusing on physiotherapy, occupational therapy and logotherapy. The focus going forward will be on geographic expansion into other regions within Germany and the DACH region. With sustainable growth and stable margins, the market for physiotherapy, occupational therapy and logotherapy offers ideal conditions for a buy-and-build strategy, primarily driven by excess demand due to demographic developments.

“Physio Frei is a regional leader in the highly fragmented market for therapeutic services. Working in close cooperation with managing director Christian Frei, we will build on the organic and inorganic growth of Physio Frei”, stated Nico Vitense, Managing Partner of AURELIUS Growth Investments.

“AURELIUS Growth Investments is the ideal partner for our future growth strategy: thanks to AURELIUS Growth Investment’s many years of investment experience and operational know-how, we can build on Physio Frei's previous pledge of success. We look forward to this shared future!”, added Christian Frei, founder and managing director of Physio Frei.

On behalf of AURELIUS Growth Investments, the transaction was led by Nico Vitense and his team. The team was supported by L.E.K. Consulting (Tobias A. Kösters, Commercial Due Diligence), Ebner Stolz (Joerg Schoberth, Financial und Tax Due Diligence) and Schiedermair Rechtsanwälte (Jörg Swoboda, Legal Due Diligence and SPA Advice), Kuzaj Wittmann (Hans-Jörg Wittmann, Tax Advice).

Contact Persons to the Transaction

Nico Vitense
Managing Partner

Saskia Puschmann
Investment Manager

Toni Büchsenmann
Senior Investment Associate

Christopher Gongolo
Investment Associate


AURELIUS is a pan-European alternative investment firm. Deep operational expertise and experience enable AURELIUS to accelerate value creation within its portfolio companies. The Group has offices in London, Luxembourg, Munich, Amsterdam, Stockholm, Madrid, Milan and Dusseldorf.

Our key investment platforms are AURELIUS European Opportunities IV fund and listed AURELIUS Equity Opportunities SE & Co. KGaA (ISIN: DE000A0JK2A8, Ticker Symbol: AR4), which specialise in corporate carve-out transactions and acquiring companies with development potential in the mid-market. The investment strategy’s core element is growth of its portfolio companies, supported by a team of almost 100 operating taskforce experts.

AURELIUS Group additionally operates in the areas of growth capital, real estate and alternative lending solutions. AURELIUS Growth Investments is focused on transactions involving buy-and-builds, buyouts and succession solutions across the small cap sector. AURELIUS Real Estate Opportunities focuses on real estate investments, the value of which can be increased in the long-term by means of active management. AURELIUS Finance Company provides flexible lending solutions to firms across Europe.

AURELIUS Growth Investments is a member of AURELIUS Group. Its portfolio comprises eleven companies. In addition to capital for investments and growth, AURELIUS Growth Investments supports the management of its portfolio companies through its extensive entrepreneurial experience and helps with realizing operational potential and the implementation of growth initiatives.