The boutique investment firm co-founded by Bear Stearns’ former co-head of European investment banking has completed its first deal - acquiring a German power systems company owned by the private equity fund run by Credit Suisse's ex-chief executive, Leonhard Fischer.

BLM Partners, which was founded earlier this year by former Bear Stearns banker Florian Lahnstein, along with former Bertelsmann chief executive Thomas Middelhoff and Roland Berger, founder of Roland Berger Management Consultants, has sealed its first deal with the take over of AEG Power Solutions for €250m ($364m).