Volpi Capital announces sale of Asolvi to Bregal Milestone
London, 13 October 2026: Volpi Capital is delighted to announce that it has signed an agreement to sell its shareholding in Asolvi to Bregal Milestone, which will become the company’s new majority shareholder, partnering alongside the management team.
Today, Asolvi is a leading European provider of field service management software for specialist industries, with 2,000+ customers across 20+ countries.
Volpi has worked closely with Asolvi’s management team to build a high-performing sales organisation with dedicated vertical specialisation and modernise the product portfolio with new cloud-native and agentic solutions.
Together with the management team, Volpi executed a buy-and-build strategy comprising seven acquisitions, which has transformed Asolvi from a predominantly Nordic and UK business into a pan-European platform, with particular strength in Germany and Spain. This has supported its expansion into the high-growth Fire & Security vertical, which now accounts for half of its ARR. Both revenue and EBITDA have more than doubled during Volpi’s ownership, with organic growth accelerating from low single digits to double digits.
Nick Barnett, CEO of Asolvi, commented: “We thank Volpi Capital and Viking Growth for a successful partnership over the last years and the milestones we have reached together. We are now excited to embark on the next chapter alongside Bregal Milestone, continuing to develop our AI roadmap and drive growth across all our markets.”
Fernando Piekenbrock, Investor at Volpi Capital, added: “Asolvi has undergone an impressive transformation, becoming the leader in Fire & Security, through a combination of organic growth and strategic acquisitions. We wish Nick, Antonio, Matthew, and the rest of the team every success in the next stage of the journey and are confident we are leaving the business in good hands with Bregal Milestone.”
Volpi Capital was advised by Raymond James (M&A), Wikborg Rein (legal advisor and legal due diligence), Oliver Wyman (commercial and AI due diligence), 8Advisory (financial and tax due diligence) and Ringstone (technology due diligence). Completion of the transaction is expected in Q4 2026.
About Volpi Capital
Volpi Capital is a specialist pan-European lower mid-market private equity firm seeking to partner with ambitious businesses that use technology to disrupt traditional B2B value chains. As a thematic investor, Volpi typically invests €25-75 million of equity in businesses with enterprise values between €50 million and €200 million and seeks to drive transformative growth through investment in go-to-market capabilities, international expansion, and consolidation. The firm, which was founded in 2016, closed its third fund (Volpi Capital Fund III) in 2024 with €428 million of commitments. volpicapital.com
About Asolvi
Asolvi is the leading European provider of field service management software for specialist industries, trusted by over 2,000 customers across more than 20 countries. The company has a strong footprint in the UK, DACH, the Nordics, Spain, and Latin America. Founded in 1991 in Norway, Asolvi has scaled both organically and through acquisitions to become the dominant player across the fire & security, workplace and IT, and utilities sectors, among other verticals. Backed by majority investor Volpi Capital, Viking Growth, and its management team, Asolvi has continued to drive consolidation and digital transformation across the FSM market. For more information, visit www.asolvi.com.
Media contact:
Volpi Capital: Estelle Sheanon / estelle@volpicapital.com
