Volpi Capital, advised by CMS, acquires Beta10 to accelerate its growth in the European FSM software market

CMS Albiñana & Suárez de Lezo has advised Volpi Capital, a private equity fund, on the acquisition of Beta10 through its Norwegian portfolio company Asolvi AS. The purpose of this transaction is to accelerate Asolvi’s growth and strengthen its presence in Southern Europe, particularly in the dynamic FSM software sector.

Asolvi has positioned itself as a European leader in FSM solutions for fire protection and security—an industry characterized by strict regulation, strong customer loyalty, and a highly fragmented software market. Thanks to its approach, the group has built the only pan-European platform at scale dedicated to this sector and continues to drive market consolidation, with organic growth of around 25%. Meanwhile, Beta10 is the leading provider in Spain of FSM software for the security and alarm sector, with a strong presence in fire protection and organic growth close to 30%. Its deep knowledge of the Spanish market brings strategic value to the transaction.

This acquisition represents another step in Volpi Capital’s expansion strategy. As a recurring CMS' client, the firm has supported them in various growth transactions, further strengthening their position in a market with significant development potential.

Pablo Cervantes and Ignacio Montero, co-founders of Beta10, commented: “We are delighted to join the Asolvi Group, the European market leader. By joining forces, we will benefit from Asolvi’s scale and expertise, offer our customers a new cloud-native, AI-based product in the near future, and expand the reach of our product across the rest of Europe and Latin America. We couldn’t be more excited.”

Asolvi is unifying the functional capabilities of all its security and fire protection products across the United Kingdom, Germany, Spain, and the Nordic countries, where the group has already consolidated its leadership in local markets. The group will launch a new cloud-native, AI-powered product in April 2026, leveraging decades of experience to deliver what will be the most comprehensive and modern solution in the European market. The founders of Beta10 will contribute their unique expertise in the Spanish market, particularly in the alarm security subsector.

Nick Barnett, CEO of Asolvi, said: “Beta10 brings real strength in the sector to Asolvi. The team’s expertise will complement our product range and further establish Asolvi as the European leader in field service management (FSM) software for specialist providers of security and fire protection services, enabling them to do more. In the security and fire protection sector, we primarily compete with horizontal FSM providers or smaller local solution companies. Our new product, to be launched soon, will further widen the gap with the competition.”

Fernando Piekenbrock and Tomas Ambrosio of Volpi Capital, the majority shareholder of Asolvi, added: “We met Pablo in 2024 and have followed the company closely ever since, consistently impressed by its trajectory. Beta10 represents Asolvi’s twelfth acquisition, and the fire protection and security sector now accounts for approximately half of our annual recurring revenue.”

The team leading this transaction was headed by Pedro Ferreras, together with Eric Domènech, Irene Carol, and Meya Torras, all from the Corporate/M&A department. In addition, lawyers Juan Egea and Giuseppe Esposito (employment), Miguel Recio (data protection), and Covadonga Maestro (IP) contributed support during the due diligence process.

About Asolvi

Asolvi is Europe’s leading provider of field service management software for specialized industries, trusted by more than 2,000 customers in over 20 countries, with a strong presence in the United Kingdom, the DACH region, the Nordics, Spain, and Latin America. Founded in 1991 in Norway, Asolvi has grown both organically and through acquisitions to become a dominant player in sectors such as security and fire protection, workplace environments and IT, and utilities, among others. Backed by Volpi Capital, Viking Growth, and its management team, Asolvi continues to drive consolidation and digital transformation across the field service management (FSM) market.