Blackstone holds 45% of Leica Camera AG, acquired as a strategic investment, while the remaining 55% is held by ACM, an Austrian investment vehicle linked to Andreas Kaufmann. Both shareholders have discussed a potential sale that could value the Wetzlar-based company at about €1 billion. HSG, an Asian investment firm, is reported to be ahead of a small set of bidders that includes Altor Equity Partners, though talks are early and may not result in a transaction. Leica’s value is tied primarily to its brand name and luxury positioning rather than its factories. A sale would represent Blackstone exiting a turnaround strategy, while Kaufmann’s potential reinvestment could preserve continuity.
"That HSG is the likely buyer is itself a small marker of how the camera business has shifted east. The firm split from Sequoia's US"
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