Chapters Group | January 2026

 Today, we’re looking at a company that is polarizing the investing community: Chapters Group AG. Some call it the 'German Constellation Software.

Chapters Group has long been a company I’d like to analyze. Not just because of the company itself, but also because of the market it’s operating in: the VMS market. While I own the serial acquirer Teqnion, it isn’t a VMS company. This officially is the first time I've analyzed a VMS serial acquirer.

I’ve spoken to several people close to the management team, and talked to several knowledgeable people who were kind enough to help me. With that info, I put together this 34-page company analysis (and this short podcast).

Disclaimer:
Nothing in this podcast can be considered financial advice. This is for educational purposes only. We may hold positions in the businesses discussed. Do your own research.

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