London, Luxembourg and Zurich, June 17, 2025 – Jacobs Holding and Telemos Capital, two leading private equity investment firms affiliated with the Jacobs family, are pleased to announce their decision to join forces and form Jacobs Capital. This strategic move marks a significant milestone in their shared ambition of investing in and building great companies for the long term.
The combination of Jacobs Holding and Telemos Capital will build on the complementary strengths of the two firms, creating an even stronger platform with enhanced capabilities. Operating as Jacobs Capital, the combined firm will leverage the best of both organisations while ensuring continuity for portfolio companies and other stakeholders.
The decision to combine is a natural progression building on Jacobs Holding’s transition to become an independent investment house, separate from the Jacobs Foundation, as announced on April 29, 2025. This shift has allowed Jacobs Holding to focus fully on its core investment activities, laying the groundwork for this next step in its evolution.
Both Jacobs Holding, founded in 1994, and Telemos Capital, established in 2017, are investment firms funded by evergreen, family capital, that combine the active ownership and professionalism of private equity firms with the flexibility and strong values of a family-backed enterprise.
This move is underpinned by the Jacobs family’s continued stewardship, which is the basis of the strong cultural and strategic alignment between the two firms. With offices in London, Luxembourg and Zurich, Jacobs Capital will continue to build on the entrepreneurial vision of Klaus J. Jacobs.
The combined firm will pursue a strategy of investing in mid-market businesses across Europe with the potential for further value creation. The sector focus will be on consumer, business services, education and healthcare companies, partnering with management to accelerate growth.
The combination will not impact the existing portfolios of Jacobs Holding and Telemos Capital, which will continue to be owned and managed in the same way, but with the added benefit of a shared network and additional resources.
Nicolas and Philippe Jacobs will co-chair Jacobs Capital providing continuity and family stewardship. Jacob Polny, current CEO of Telemos Capital, will take on the role of CEO of Jacobs Capital, ensuring a unified vision and continuity in leadership. Timothy Franks, the CEO of Jacobs Holding, has decided to step down. Jacobs Holding thanks him for his commitment and leadership whilst he was at the helm.
Philippe and Nicolas Jacobs, Co-Chairmen of Jacobs Capital, commented: “Jacobs Capital, the new firm resulting from the combination of Jacobs Holding and Telemos Capital, marks an exciting new chapter. This is a natural and seamless step, given our shared investment philosophy, strategic alignment, and deep cultural fit. We are proud of our father’s legacy, our family’s strong Swiss roots and the successful track record of both Jacobs Holding and Telemos Capital. Together, we are even better positioned to deliver value for our portfolio companies, business partners, and employees.”
