Bregal Milestone Backs Asolvi to Build AI-First Field Service Software for Compliance-Critical Industries

Bregal Milestone, a leading European growth private equity firm specialising in software, today announced a majority investment in Asolvi, a provider of field service management (FSM) software for compliance-critical and asset-intensive industries. Bregal Milestone is acquiring its stake from Volpi Capital and Viking Growth. CEO Nick Barnett and the management team are reinvesting alongside Bregal Milestone.

Founded in 1991 and headquartered in Trondheim, Norway, Asolvi serves more than 2,000 customers across the UK, DACH, the Nordics, Spain and Latin America. For fire and security installers and utility contractors, Asolvi’s software is the operating system of the business. It schedules engineers, manages maintenance contracts, records inspections, and produces evidence that regulators, insurers and building owners require.

Because Asolvi sits at the centre of these workflows, it captures structured data on assets, inspections, parts, and outcomes as jobs are completed. This puts Asolvi in a strong position to apply AI to improve the economics of field service:

• scheduling that accounts for engineer skills, location and service levels;
• inspection reports and compliance certificates drafted automatically from engineers’ notes and photos; and
• fault histories used to raise first-time fix rates and anticipate maintenance needs.

Bregal Milestone will back continued investment in Asolvi’s cloud platforms and AI roadmap. It will also support selective acquisitions to deepen Asolvi’s position in existing markets and extend it into new ones. Milestone Performance Partners, Bregal Milestone’s in-house value creation team, including its data and AI specialists, will work alongside management. Customers will continue to be supported on their current Asolvi products.

“Our customers are responsible for the systems that keep people safe: fire alarms, sprinklers, security and power,” said Nick Barnett, CEO of Asolvi. “Every job they do has to stand up to an auditor, an insurer or a fire officer. Bregal Milestone’s backing lets us move faster on what matters most to them: proof of compliance captured as the work is done, sites signed off before the engineer drives away, and the confidence that nothing slips through the cracks as the rules get tougher.”

“Asolvi’s customers keep fire systems working, buildings safe and utilities running, and they rely on Asolvi to do it,” said Cyrus Shey, Co-Founder and Managing Partner of Bregal Milestone. “Software that is this embedded and this hard to replace, holding decades of operational and compliance data, is where AI creates the most value. With compliance requirements tightening across its markets, Asolvi is in a strong position to lead with AI, and we are honoured to be backing Nick and the team.”

“Our first priority is to put practical AI tools in the hands of engineers and back-office teams, and to measure them in jobs completed and hours saved,” said Sebastian Charpentier, Principal at Bregal Milestone. “Alongside that, Asolvi’s position across Europe gives us a clear set of acquisition opportunities to build on.”

Bregal Milestone was advised by White & Case, PwC, Dedale, and Code & Co. Terms of the transaction were not disclosed. Completion of the transaction is expected in Q4 2026.

About Bregal Milestone

Bregal Milestone is a leading software private equity firm with c.€2.3 billion of capital raised since inception. The firm provides growth capital and operational support to build market-leading companies in B2B software, AI and cybersecurity. Bregal Milestone is part of Bregal, a global GP solutions platform for the private markets with assets under management of over €24 billion. Bregal Milestone was recognized by GrowthCap as one of the Top Private Equity Firms of 2026. For more information, visit www.bregalmilestone.com or follow us on LinkedIn.

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 Volpi Capital, Viking Growth, and its management team, Asolvi continues to drive consolidation and digital transformation across the FSM market. For more information, visit www.asolvi.com.

Disclosure: Endorsements presented herein are made by current or former portfolio company executives, over which Bregal Milestone may have the ability to exercise discretion on employee compensation, promotion and other employment decisions and may also be investors in Bregal funds.

View source version on businesswire.com: https://www.businesswire.com/news/home/20261013430580/en/