Freund & Partner GmbH Steuerberatungsgesellschaft: management transactions · Germany · BaFin

About Freund & Partner GmbH Steuerberatungsgesellschaft

Freund & Partner GmbH Steuerberatungsgesellschaft is a German tax advisory firm embedded in the ETL Group, and for capital-market purposes it is monitored within the German regulatory framework for MAR Article 19 director dealings reported to BaFin. Its market presence is linked to the Xetra/Frankfurt (DAX/MDAX/SDAX) ecosystem through its listed debt instruments and investor communications rather than through equity trading. For international investors, the company should be viewed as a professional services issuer, with value creation driven by recurring advisory fees, client retention, and the scale benefits of a national advisory platform. The company is headquartered in Berlin, Germany, with its registered office at Mauerstraße 86-88, 10117 Berlin. It operates under the ETL/Freund & Partner brand, which sits within a broader group that has built a “one-stop-shop” advisory model spanning tax, business, and legal services. ETL’s roots date back to the early 1970s, when the foundations of the group were laid, and the ETL brand expanded materially from the 1990s onward; Freund & Partner became part of that growth story and remains one of the key tax-advisory building blocks within the group’s network. The company’s core business lines are classic tax advisory, financial accounting, annual financial statements and tax returns, payroll services, business consulting, and tax planning/optimization. Its client base is primarily made up of entrepreneurs, self-employed professionals, and SMEs, which supports a relatively defensive and recurring revenue profile. Competitive positioning is based on scale, local market coverage, brand recognition, and the ability to combine centralized resources with local client service. ETL describes itself as a market leader in tax advisory in Germany and one of the major professional services groups in the country; Freund & Partner benefits from that positioning through access to shared expertise, digital tools, and a broad branch network across Germany. Geographically, the business is strongly anchored in Germany, while the ETL platform also supports cross-border and multilingual advisory capabilities. A notable recent development is the continued use of the capital markets for funding: the company launched the DE000A460Q19 subordinated bond in late 2025, underlining ongoing refinancing and growth access through the bond market. For investors, the key themes are the stability of the advisory franchise, the dependence on regulatory and client-service execution, and the importance of ETL’s broader ecosystem in sustaining competitive strength.