Mapping Succession in Germany: Where the Next Generation of Handovers Will Emerge

Words Clare King

Mapping Succession in Germany: Where the Next Generation of Handovers Will Emerge

Over 1 in 4 German limited companies are wholly owned by a single person aged over 55. Using newly available shareholder data, we map where ownership is most concentrated among people over 65, and where the next generation of company handovers is likely to emerge.

Succession is one of the most discussed issues facing Germany’s Mittelstand. Shareholder data offers a direct view of one part of that picture: the age of owners in the country’s limited companies and where older ownership is most concentrated.

This analysis draws on the shareholder lists (Gesellschafterlisten) that German limited companies file with the commercial register, now available as structured data on Beauhurst. It offers one of the first views of ownership age across all 16 Bundesländer.

A regional pattern

share of limited companies at least half-owned by someone aged 65 or over ranges from 12.0% in Berlin to 21.5% in Saarland, a difference of nearly double. 

Berlin’s low share likely reflects the age of its business base. As the centre of Germany’s startup activity, Berlin’s business-owner population is much younger. Its average shareholder age is 48.0, the lowest of any state. 

At the opposite end of the scale are Saarland, Baden-Württemberg and Rhineland-Palatinate, with the highest shares of companies at least half-owned by someone aged 65. These regions have long-established, often family-owned industrial businesses, which may help explain why ownership skews older.

The picture in the east is mixed. Thuringia (19.9%), Saxony-Anhalt (19.8%), and Mecklenburg-Vorpommern (19.6%) rank near the top, while Saxony (15.6%) and Brandenburg (16.7%) rank among the lowest.

Ownership often rests with one person

Over 1 in 4 companies are wholly owned by a single person aged over 55. In these businesses, ownership, and with it the decision over what happens next, rests with one individual.

Most have yet to bring in the next generation

Where someone over 65 owns at least half of a company, more than 4 in 5 have no shareholder under 50. Among companies with two or more shareholders, the figure is almost 2 in 3. For most of these businesses, succession has yet to be reflected on the shareholder list.

Some show signs of an ongoing handover. 11.7% of companies majority-owned by someone over 65 now include a younger family member among their shareholders. Notably, two regions with the highest shares of older ownership, Baden-Württemberg and Rhineland-Palatinate, also have the highest rates. It is least common in Berlin and Hamburg.

On Beauhurst, the shareholder timeline shows how a company’s ownership has changed over time, so you can follow a handover as it unfolds. Succession can also show up before it reaches the shareholder list. In Germany, the next generation is often granted Prokura, a broad commercial power of attorney, before receiving shares. With authorised signatory data alongside shareholder data, you can spot these signals beyond the owners themselves.

What this means for advisers and investors

Ownership changes often require specialist support, from valuation and buyer searches to deal structuring, financing, and legal and tax advice. For M&A advisers, corporate finance teams, private equity investors and law firms, knowing where older ownership is concentrated helps show where those conversations may arise.

Timing matters; advisers who build relationships with owners before a decision is made are better placed to help. German shareholder data on Beauhurst shows who owns companies with a filed shareholder list, and how that ownership is structured.

Methodology

This analysis covers active German limited companies (GmbH, UG and gGmbH) with a filed shareholder list, where we know the ages of the shareholders holding at least 80% of the shares. Ownership is as at each company’s most recent filing. Source: Beauhurst, September 2026.

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