Buyer landscape
Likely buyers · Data & Analytics in Germany.
Prepared 2026-08-28 with GP Intel · deterministic scoring, published weights: gp-intel.com/methodology/league-tables
How companies like this sold · 347 verified exits: 20% to sponsors, 78% to corporates and platforms, 1% via IPO, 1% other routes. Route shift since 2020: sponsors 19% (was 23%), corporates and platforms 79% (was 75%), IPO 0% (was 3%).
The list: 25 Tier 1 · 0 Tier 2 of 120 matched buyers, including 7 geographic expansion candidates without a local platform yet. A first round of the Tier 1 names plus the expansion buyers covers the demonstrated demand.
Financial buyers · 25
Tier 1 · Very High · score 70+
1. BU Bregal Unternehmerkapital Multi-Asset Continuation Fund SponsorVery High85
18 platform investments in Software & IT · 32 in Germany · 15 deals 2024–26
AUM €7.0B · BU Bregal Unternehmerkapital Multi-Asset Continuation Fund · 2026 vintage · deploying · check €16-122M
4 platform investments since the 2026 vintage · early in deployment vs its usual 9 per fund.
Bought Safety21 from BU Bregal Unternehmerkapital, 2026 · Software, Italy
2. Deutsche Beteiligungs SponsorVery High84
13 platform investments in Software & IT · 80 in Germany · 10 deals 2024–26
AUM €2.7B · DBAG Solvares Continuation Fund · 2024 vintage · deploying · check €3-20M
9 platform investments since the 2024 vintage · largely deployed vs its usual 8 per fund.
Backed Bug Bounty Switzerland, 2026 · Cybersecurity, Switzerland
3. Deutsche Beteiligungs AG SponsorVery High83
12 platform investments in Software & IT · 85 in Germany · 9 deals 2024–26
AUM €2.7B · DBAG Solvares Continuation Fund · 2024 vintage · deploying · check €3-20M
9 platform investments since the 2024 vintage · largely deployed vs its usual 8 per fund.
Backed Bug Bounty Switzerland, 2026 · Cybersecurity, Switzerland
4. BU Bregal Unternehmerkapital SponsorVery High83
17 platform investments in Software & IT · 32 in Germany · 14 deals 2024–26
AUM €7.0B · BU Bregal Unternehmerkapital Multi-Asset Continuation Fund · 2026 vintage · deploying · check €16-122M
4 platform investments since the 2026 vintage · early in deployment vs its usual 9 per fund.
Backed Safety21, 2026 · Software, Italy
5. Capmont SponsorVery High83
16 platform investments in Software & IT · 32 in Germany · 16 deals 2024–26
Capmont Technology Fund · 2024 vintage · deploying · check €2-15M
16 platform investments since the 2024 vintage · largely deployed vs its usual 15 per fund.
Backed Sifflet, 2025 · Data & Analytics, France
6. AFINUM Management GmbH SponsorVery High83
14 platform investments in Software & IT · 24 in Germany · 9 deals 2024–26
AFINUM X Buyout (2026) · 2026 vintage · deploying · check €10-75M
2 platform investments since the 2026 vintage · early in deployment vs its usual 9 per fund.
Backed Fairbanks, 2026 · SaaS, Netherlands
7. Hg SponsorVery High82
48 platform investments in Software & IT · 19 in Germany · 22 deals 2024–26
AUM €69.0B · Hg Mercury 4 · 2023 vintage · deploying · check €48-360M
24 platform investments since the 2023 vintage · largely deployed vs its usual 8 per fund.
Backed OneStream, 2026 · SaaS, US
8. Nordic Capital SponsorVery High81
27 platform investments in Software & IT · 21 in Germany · 14 deals 2024–26
AUM €39.0B · Nordic Capital Fund XI · 2023 vintage · deploying · check €180M-1.4B
15 platform investments since the 2023 vintage · mid-deployment vs its usual 22 per fund.
Bought BMLL from ACF Investors, 2025 · Data & Analytics, UK
9. Sophora Unternehmerkapital SponsorVery High81
5 platform investments in Software & IT · 4 in Germany · 5 deals 2024–26
Sophora Capital Unternehmer-Fonds I · 2023 vintage · deploying · check €1-8M
Accelerating: 4 deals in the last 2 years vs 0.8/yr before.
Backed SQUER, 2026 · IT Services, Austria
10. EQT SponsorVery High80
40 platform investments in Software & IT · 40 in Germany · 51 deals 2024–26
AUM €291.0B · EQT X · 2023 vintage · deploying · check €440M-3.3B
53 platform investments since the 2023 vintage · largely deployed vs its usual 11 per fund.
Backed RIMES Technologies, 2020 · Data & Analytics, UK
11. Apax Partners SponsorVery High80
35 platform investments in Software & IT · 6 in Germany · 21 deals 2024–26
AUM €70.8B · Apax XI · 2024 vintage · deploying · check €221M-1.7B
19 platform investments since the 2024 vintage · largely deployed vs its usual 12 per fund.
Backed Sedex, 2026 · Data & Analytics, UK
12. Apax Partners (with NewAlpha) SponsorVery High80
30 platform investments in Software & IT · 6 in Germany · 19 deals 2024–26
AUM €70.8B · Apax XI · 2024 vintage · deploying · check €221M-1.7B
19 platform investments since the 2024 vintage · largely deployed vs its usual 12 per fund.
Backed Sedex, 2026 · Data & Analytics, UK
13. Apax Partners and Inova Capital SponsorVery High80
29 platform investments in Software & IT · 6 in Germany · 19 deals 2024–26
AUM €70.8B · Apax XI · 2024 vintage · deploying · check €221M-1.7B
19 platform investments since the 2024 vintage · largely deployed vs its usual 12 per fund.
Backed Sedex, 2026 · Data & Analytics, UK
14. Apax Partners and JMI Equity SponsorVery High80
29 platform investments in Software & IT · 6 in Germany · 19 deals 2024–26
AUM €70.8B · Apax XI · 2024 vintage · deploying · check €221M-1.7B
19 platform investments since the 2024 vintage · largely deployed vs its usual 12 per fund.
Backed Sedex, 2026 · Data & Analytics, UK
15. Apax Partners SAS SponsorVery High80
29 platform investments in Software & IT · 6 in Germany · 19 deals 2024–26
AUM €70.8B · Apax XI · 2024 vintage · deploying · check €221M-1.7B
19 platform investments since the 2024 vintage · largely deployed vs its usual 12 per fund.
Backed Sedex, 2026 · Data & Analytics, UK
16. Inflexion SponsorVery High80
8 platform investments in Software & IT · 5 in Germany · 27 deals 2024–26
AUM €11.0B · Inflexion Buyout Fund VII · 2026 vintage · deploying · check €90-675M
4 platform investments since the 2026 vintage · mid-deployment vs its usual 6 per fund.
Backed GlobalData Healthcare, 2024 · Data & Analytics, UK
17. Oakley Capital SponsorVery High80
15 platform investments in Software & IT · 15 in Germany · 20 deals 2024–26
AUM €12.7B · Oakley Capital Fund VI · 2025 vintage · deploying · check €90-675M
10 platform investments since the 2025 vintage · largely deployed vs its usual 6 per fund.
Bought Senef from Isatis Capital, 2026 · SaaS, France
18. Axcel SponsorVery High80
20 platform investments in Software & IT · 1 in Germany · 14 deals 2024–26
Axcel VII · 2023 vintage · deploying · check €26-194M
15 platform investments since the 2023 vintage · largely deployed vs its usual 9 per fund.
Backed Bekk, 2026 · IT Services, Norway
19. Armira SponsorVery High80
8 platform investments in Software & IT · 23 in Germany · 12 deals 2024–26
AUM €5.0B · Armira III · 2025 vintage · deploying · check €20-150M
8 platform investments since the 2025 vintage · mid-deployment vs its usual 10 per fund.
Backed Meteomatics, 2025 · Data & Analytics, Switzerland
20. BID Equity Continuation Fund I SCSp SponsorVery High80
12 platform investments in Software & IT · 14 in Germany · 9 deals 2024–26
AUM €800M · BID Equity Continuation Fund I · 2025 vintage · deploying · check €6-45M
Accelerating: 7 deals in the last 2 years vs 2.0/yr before.
Bought everii from BID Equity, 2025 · SaaS, Germany
21. Isai Gestion SponsorVery High79
61 platform investments in Software & IT · 1 in Germany · 30 deals 2024–26
AUM €458M · ISAI Expansion III · 2025 vintage · deploying · check €6-45M
23 platform investments since the 2025 vintage · largely deployed vs its usual 20 per fund.
Backed Hiboo, 2024 · Data & Analytics, France
22. Oakley Capital, Eurazeo, Sagard NewGen (I-Tracing platform) SponsorVery High79
15 platform investments in Software & IT · 13 in Germany · 19 deals 2024–26
AUM €12.7B · Oakley Capital Fund VI · 2025 vintage · deploying · check €90-675M
10 platform investments since the 2025 vintage · largely deployed vs its usual 6 per fund.
Backed Senef, 2026 · Software, France
23. NORD Holding SponsorVery High79
9 platform investments in Software & IT · 40 in Germany · 15 deals 2024–26
AUM €5.0B · NORD Holding all inclusive Fitness Continuation Fund · 2026 vintage · deploying
Accelerating: 13 deals in the last 2 years vs 2.5/yr before.
Backed VisionmaxX Gruppe, 2026 · IT Services, Germany
24. NORD Holding / Pinova Capital SponsorVery High79
10 platform investments in Software & IT · 37 in Germany · 12 deals 2024–26
AUM €5.0B · NORD Holding all inclusive Fitness Continuation Fund · 2026 vintage · deploying
Accelerating: 10 deals in the last 2 years vs 2.5/yr before.
Backed VisionmaxX Gruppe, 2026 · IT Services, Germany
25. bm-t Beteiligungsmanagement Thueringen SponsorVery High79
6 platform investments in Software & IT · 28 in Germany · 13 deals 2024–26
AUM €465M · Mittelstands-Fonds Thueringen II (MFT II) · 2025 vintage · deploying · check €0-3M
Accelerating: 8 deals in the last 2 years vs 2.5/yr before.
Backed Leapter, 2025 · Software, Germany
Scores and facts derive from verified deal records only; sample floors and thresholds are published on the methodology page. Figures marked with a tilde are bands, not disclosures.