Buyer landscape
Likely buyers · SaaS in Italy.
Prepared 2026-08-28 with GP Intel · deterministic scoring, published weights: gp-intel.com/methodology/league-tables
How companies like this sold · 70 verified exits: 29% to sponsors, 59% to corporates and platforms, 11% via IPO, 1% other routes. Route shift since 2020: sponsors 21% (was 21%), corporates and platforms 75% (was 73%), IPO 3% (was 6%) (sector-wide).
The list: 24 Tier 1 · 1 Tier 2 of 120 matched buyers, including 26 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. TeamSystem PE-backedVery High88
86 acquisitions in Software & IT · 85 in Italy · 28 deals 2024–26
Active in Italy since 2007.
Added on DIA Yazilim, 2026 · SaaS, Turkey
2. BU Bregal Unternehmerkapital Multi-Asset Continuation Fund SponsorVery High88
18 platform investments in Software & IT · 5 in Italy · 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.
Backed SnelStart, 2025 · SaaS, Netherlands
3. Oakley Capital SponsorVery High87
15 platform investments in Software & IT · 4 in Italy · 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
4. Hg SponsorVery High86
48 platform investments in Software & IT · 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
5. Apax Partners SponsorVery High85
35 platform investments in Software & IT · 6 in Italy · 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 DLRdmv, 2025 · SaaS, US
6. Oakley Capital, Eurazeo, Sagard NewGen (I-Tracing platform) SponsorVery High85
15 platform investments in Software & IT · 4 in Italy · 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 Blinq, 2025 · SaaS, Australia
7. AFINUM Management GmbH SponsorVery High85
14 platform investments in Software & IT · 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
8. EQT SponsorVery High83
40 platform investments in Software & IT · 3 in Italy · 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 Mews, 2026 · SaaS, Netherlands
9. Apax Partners (with NewAlpha) SponsorVery High83
30 platform investments in Software & IT · 4 in Italy · 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 DLRdmv, 2025 · SaaS, US
10. Apax Partners and Inova Capital SponsorVery High83
29 platform investments in Software & IT · 4 in Italy · 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 DLRdmv, 2025 · SaaS, US
11. Apax Partners and JMI Equity SponsorVery High83
29 platform investments in Software & IT · 4 in Italy · 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 DLRdmv, 2025 · SaaS, US
12. Apax Partners SAS SponsorVery High83
29 platform investments in Software & IT · 5 in Italy · 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 DLRdmv, 2025 · SaaS, US
13. BU Bregal Unternehmerkapital SponsorVery High82
17 platform investments in Software & IT · 4 in Italy · 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 SnelStart, 2025 · SaaS, Netherlands
14. Swanlaab Venture Factory SponsorVery High82
12 platform investments in Software & IT · 1 in Italy · 18 deals 2024–26
Swanlaab Innvierte Agrifood Tech · 2024 vintage · deploying
Accelerating: 15 deals in the last 2 years vs 1.3/yr before.
Backed Flowww, 2025 · SaaS, Spain
15. Alkemia SGR SponsorVery High81
8 platform investments in Software & IT · 19 in Italy · 8 deals 2024–26
AUM €270M · Food Excellence I · 2025 vintage · deploying
6 platform investments since the 2025 vintage · largely deployed vs its usual 4 per fund.
Backed 4Gift, 2021 · SaaS, Italy
16. BID Equity Continuation Fund I SCSp SponsorVery High81
12 platform investments in Software & IT · 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
17. Kester Capital SponsorVery High79
7 platform investments in Software & IT · 7 deals 2024–26
Kester Capital IV · 2025 vintage · deploying · check €10-75M
3 platform investments since the 2025 vintage · mid-deployment vs its usual 5 per fund.
Backed Nutritics, 2026 · SaaS, Ireland
18. Maguar Capital SponsorVery High79
5 platform investments in Software & IT · 7 deals 2024–26
AUM €595M · Maguar Continuation Fund I · 2023 vintage · deploying · check €5-35M
7 platform investments since the 2023 vintage · largely deployed vs its usual 4 per fund.
Backed Schlafender Hase, 2026 · SaaS, Germany
Tier 2 · High · score 50+
19. Visma PE-backedHigh78
164 acquisitions in Software & IT · 2 in Italy · 55 deals 2024–26 · add-on program under General Atlantic / Hg
Platform held 6 yrs · likely exiting
Active in Italy since 2024.
Added on MaisMei, 2026 · SaaS, Brazil
Tier 1 · Very High · score 70+
20. Permira SponsorVery High78
27 platform investments in Software & IT · 9 in Italy · 17 deals 2024–26
AUM €80.0B · Permira VIII · 2023 vintage · deploying · check €334M-2.5B
17 platform investments since the 2023 vintage · largely deployed vs its usual 11 per fund.
Backed Versaterm, 2025 · SaaS, Canada
21. Axcel SponsorVery High78
20 platform investments in Software & IT · 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 SuperOffice, 2025 · SaaS, Norway
22. Maguar Capital Partners SponsorVery High78
4 platform investments in Software & IT · 6 deals 2024–26
AUM €595M · Maguar Continuation Fund I · 2023 vintage · deploying · check €5-35M
7 platform investments since the 2023 vintage · largely deployed vs its usual 4 per fund.
Backed Schlafender Hase, 2026 · SaaS, Germany
23. Isai Gestion SponsorVery High77
61 platform investments in Software & IT · 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 Synera, 2026 · SaaS, Germany
24. Deutsche Beteiligungs SponsorVery High77
13 platform investments in Software & IT · 4 in Italy · 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
25. Permira Credit SponsorVery High77
25 platform investments in Software & IT · 4 in Italy · 14 deals 2024–26
AUM €80.0B · Permira VIII · 2023 vintage · deploying · check €334M-2.5B
17 platform investments since the 2023 vintage · largely deployed vs its usual 11 per fund.
Backed Versaterm, 2025 · SaaS, Canada
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.