Engagement — Platform Due Diligence
Code & Co. provides AI & Tech Due Diligence to Bregal Milestone ahead of its investment in Asolvi, a provider of field service management software for compliance-critical and asset-intensive industries.
Bregal Milestone, a leading European growth private equity firm specializing in software, has 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.
Scope of work
Code & Co. advised Bregal Milestone on AI & Tech Due Diligence through a detailed evaluation of Asolvi's field service management software portfolio, covering the product roadmap and platform consolidation plan, customer value and usage, integrations and onboarding, support operations, acquisition integration, as well as the AI strategy, positioning and defensibility, the underlying data foundation, model operations, and AI risk and compliance.
The assessment extended to the technical architecture, infrastructure and deployment, the technology stack, automation and monitoring, resilience and business continuity, cyber security, open-source and third-party dependencies, legacy and technical debt, and corporate IT, together with the engineering organization, key contributors, the software development life cycle, and certifications.
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, with a strong footprint in the UK, DACH, the Nordics, Spain, and Latin America. Founded in Norway in 1991 and headquartered in Trondheim, the company has scaled both organically and through acquisitions to become the dominant player in 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. To learn more, visit asolvi.com.
About Bregal Milestone
Bregal Milestone is a leading software private equity firm with approximately €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. To learn more, visit bregalmilestone.com.