Buyer landscape

Likely buyers · SaaS in Spain.

Prepared 2026-08-28 with GP Intel · deterministic scoring, published weights: gp-intel.com/methodology/league-tables

How companies like this sold · 98 verified exits: 17% to sponsors, 81% to corporates and platforms, 1% 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 25 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. Oakley Capital SponsorVery High89

15 platform investments in Software & IT · 7 in Spain · 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

2. Hg SponsorVery High88

48 platform investments in Software & IT · 2 in Spain · 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

3. EQT SponsorVery High87

40 platform investments in Software & IT · 13 in Spain · 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

4. Oakley Capital, Eurazeo, Sagard NewGen (I-Tracing platform) SponsorVery High87

15 platform investments in Software & IT · 6 in Spain · 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

5. Swanlaab Venture Factory SponsorVery High87

12 platform investments in Software & IT · 24 in Spain · 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

6. TeamSystem PE-backedVery High86

86 acquisitions in Software & IT · 10 in Spain · 28 deals 2024–26

Active in Spain since 2020.

Added on DIA Yazilim, 2026 · SaaS, Turkey

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. BU Bregal Unternehmerkapital Multi-Asset Continuation Fund SponsorVery High83

18 platform investments in Software & IT · 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

9. Apax Partners SponsorVery High81

35 platform investments in Software & IT · 2 in Spain · 21 deals 2024–26

AUM €70.8B · Apax XI · 2024 vintage · deploying · check €221M-1.7B