Invested as entrepreneurs

About us.

Alion Holding Ltd invests its own capital in companies and real estate that we can actively help to shape.

Investment focus

What we look for.

01 · Technology

Tech with substance

We invest in technology companies with a proven product and recurring revenue, from software and AI to robotics. On the board, we contribute what we have experienced ourselves: the path from licence to cloud and from Switzerland to international markets.

Profile
Technology companies with recurring revenue: software, AI, robotics, technology-enabled services
Situation
Growth, transition to recurring revenue, internationalisation, succession
Stake
Minority or majority, with co-investors
Our contribution
Experience with the transition to SaaS and internationalisation, board work, financing, M&A
02 · Real estate

Homes where they are needed

Through our development brand Sphera, we replace old buildings with new homes, from land acquisition to sale. Discreet offers from owners and brokers are welcome.

Properties
Buildings for demolition and replacement, building land
Region
City of Zurich and Glatt valley, Winterthur and surroundings, the lake region from Lake Zurich to Höfe and March, Central Switzerland with Zug, Baar and Cham
Plot
Land in full ownership, from around four residential units
Volume
CHF 4 to 15 million per project
Delivery
Architecture with Studio Jakob, each project in a separate company with co-investors
03 · Established SMEs

Succession with an entrepreneurial spirit

We acquire healthy SMEs in German-speaking Switzerland whose owners are looking for a successor and develop them further with a strong management team.

Profile
Sustainably profitable, clear market position
Size
Revenue CHF 3 to 30 million, EBITDA from CHF 0.5 million
Sectors
Industry, services, tourism
Stake
Majority, gradually if preferred
Our contribution
Board work, financing, succession planning, business development

Not in our focus: Start-ups without revenue · Turnaround cases · Leasehold plots · Pure investment properties

Our stance

We stay as long as we can add value.

We are not a fund and have no fixed term. We can hold good companies indefinitely.

If a company needs a different owner for its next step, we plan the transition together with management and co-investors, in good time and with care.

How we work

Whoever talks to us talks to the person who decides.

01

Entrepreneurial

Decisions are made quickly and without committee loops.

02

Hands-on

We sit on the board and work closely with management, especially on financing, strategy and succession.

03

With partners

Larger projects are backed by a close circle of experienced entrepreneurs who have been investing together for years. Each transaction is structured individually. This makes holdings possible that would be too large for a single holding company.

What we have built

From our own experience.

Exit · Cruises

From niche provider to Trip.com Group

The founders of Alion built Cruisetour AG into one of the leading cruise providers in Swiss travel agency distribution and sold it to TUI in 2017, together with Croisimonde. In 2026 the cruise specialist e-hoi acquired Cruisetour, and since September e-hoi has been majority-owned by Trip.com Group. The sale to TUI laid the foundation for Alion Holding.

Holding · Software

Luware: from licence to cloud

Since 2020, together with a group of co-investors, we have supported Luware: from rebuilding its on-premise software as a SaaS platform for Microsoft Teams, through building the international business, to expanding in the USA via the Microsoft partner network.

Build-up · Real estate

Sphera: our own development brand

With Sphera we have built a brand for residential projects. Replacement new builds in Zurich and Winterthur, designed with Studio Jakob and financed with co-investors, for example on Rychenbergstrasse in Winterthur and Nordstrasse in Zurich.

Trust.

Honesty and transparency are the basis of every partnership.

Respect.

Every company has its own story. We listen before we judge.

Responsibility.

We build companies and properties that last.

Severin Reichenbach
Contact

Severin Reichenbach.

Co-owner and Investment Director

Has led Alion Holding since 2019 and is responsible for new investments and the development of the holdings. As a developer under the Sphera brand, he also realises real estate projects. Board member of Luware Holding AG, Chairman of the Board of the SKAG Group around R|EX, Kultour, Surprise and Carreisen Ostschweiz.

Previously M&A adviser at ZETRA International, CFO of Cruisetour AG and risk management at Swiss Re. MSc in Corporate Finance from Bayes Business School, London, and BSc in General Management from ZHAW, Winterthur.