Chapters Group
- Bouke Scholtens
- Jan 23
- 31 min read

Company name: Chapters Group
Ticker symbol: $CHG.DE
Sector: Serial Acquirers
Industry: Vertical Market Software
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.
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