Bregal Milestone, a European private equity firm focused on software, has agreed to acquire a majority stake in Asolvi, a provider of field service management software for compliance-critical industries. The firm is buying its stake from Volpi Capital and Viking Growth, with CEO Nick Barnett and the management team reinvesting. The transaction is expected to close in Q4 2026, and financial terms were not disclosed.
Backing an AI-First Field Service Platform
Asolvi was founded in 1991 and is headquartered in Trondheim, Norway. It serves more than 2,000 customers across the UK, DACH, the Nordics, Spain, and Latin America. The company's software supports fire and security installers and utility contractors by scheduling engineers, managing maintenance contracts, recording inspections, and producing evidence required by regulators, insurers, and building owners.
The investment is intended to accelerate Asolvi's cloud platforms and its broader AI roadmap. Bregal Milestone plans to support practical AI tools in scheduling, inspection reporting, and maintenance workflows. These tools could draft compliance certificates automatically from engineers' notes and photos, and they could use fault histories to improve first-time fix rates.
Bregal Milestone's in-house value creation team, Milestone Performance Partners, will work alongside Asolvi's management. The firm's data and AI specialists will support efforts to embed AI into core field service processes such as scheduling and inspection workflows. Customers will continue to be supported on their current Asolvi products during the transition, ensuring continuity for existing users.
Addressing Compliance-Critical Industries
Asolvi's customers are responsible for systems that keep people safe, including fire alarms, sprinklers, security, and power. Every completed job must stand up to auditors, insurers, or fire officers, and compliance rules are tightening across Asolvi's markets. Because the software sits at the center of these workflows, it captures structured data on assets, inspections, parts, and outcomes.
Nick Barnett, CEO of Asolvi, said the backing lets the company move faster on proof of compliance captured as work is done and sites signed off before engineers drive away. He added that the investment supports confidence that nothing slips through the cracks as rules get tougher. Barnett and the management team are reinvesting alongside Bregal Milestone.
Growth Strategy and Market Consolidation
Bregal Milestone will also back selective acquisitions to deepen Asolvi's position in existing markets and extend into new ones. The company has scaled organically and through acquisitions to become a dominant player across fire and security, workplace and IT, and utilities. Asolvi has a footprint in more than 20 countries and drives consolidation across the field service management market.
Cyrus Shey, Co-Founder and Managing Partner of Bregal Milestone, said software that is embedded and hard to replace is where AI creates the most value. Sebastian Charpentier, Principal at Bregal Milestone, said the first priority is to put practical AI tools in the hands of engineers and back-office teams. He added that Asolvi's European footprint offers a clear set of acquisition opportunities.
About Bregal Milestone and Asolvi
Bregal Milestone is a software private equity firm with approximately €2.3 billion of capital raised since inception. It provides growth capital and operational support to build market-leading companies in B2B software, AI, and cybersecurity. The firm is part of Bregal, a global GP solutions platform with assets under management of over €24 billion.
Asolvi is a leading European provider of field service management software for specialist industries, trusted by over 2,000 customers across more than 20 countries. The company's products serve sectors including fire and security, workplace and IT, and utilities. Asolvi is headquartered in Trondheim, Norway, and operates across Europe and Latin America.
The investment marks a significant step for Asolvi as it builds an AI-first field service software business for compliance-critical industries. With Bregal Milestone's support, Asolvi aims to accelerate cloud development, expand through acquisitions, and deliver measurable efficiency gains. Completion of the transaction is expected in the fourth quarter of 2026.