Key Takeaways
- • Bregal Milestone acquired a majority stake in Nethective S.p.A. (Nethive), a leading Italian cybersecurity services and software provider, and backed Nethive's acquisition of IT security specialist Joy Comm S.r.l. (JoyComm), according to a Business Wire release dated October 22, 2026.
- • Nethive reported 2026 revenue of roughly EUR 25 million, with average annual revenue growth of about 30% between 2020 and 2026 and headcount rising from about 20 to over 80.
- • Nethive serves more than 250 clients across telecommunications, energy, healthcare, industry and public administration, and develops its own products HiveFlow and X-Suite.
- • Growth plans include investment in AI-driven automation, expansion of managed services and proprietary software, a larger sales organization and further acquisitions in Italy and other markets.
- • Financial terms of the transaction were not disclosed; Alvarez & Marsal, PedersoliGattai and Fineurop Soditic advised Bregal Milestone, while Deloitte and Klecha & Co. advised Nethive's shareholders.
Summary
London-based Bregal Milestone, a European private equity firm focused on growth investments in software, has announced the acquisition of a majority stake in Nethive S.p.A., one of Italy's leading providers of cybersecurity services and software. As part of the transaction, Bregal Milestone is also supporting Nethive's acquisition of IT security specialist Joy Comm S.r.l. The financial terms of the deal were not published.
Founded in 2014 by Alessandro Bellato and Diego Rocco, Nethive offers managed security services, professional services and the distribution of technology solutions to large enterprises, small and mid-sized companies and public institutions. According to the company, it serves more than 250 clients in telecommunications, energy, healthcare, industry and public administration, and has built a reputation for rapid response times and protection of business-critical systems. Its proprietary software includes HiveFlow, which allows telecom operators to deliver network-based security services, and X-Suite, which supports monitoring and log management of complex network infrastructures.
Nethive reported 2026 revenue of approximately EUR 25 million, with average annual revenue growth of roughly 30% between 2020 and 2026 and headcount rising from about 20 to more than 80 over the same period. The 2026 revenue figures are presented on a pro forma basis including JoyComm. The Financial Times included Nethive in its "Europe's Long-term Growth Champions 2026" ranking, where it placed first among Italian participants in the IT & Software category.
JoyComm, which plans, implements and operates secure network and cloud infrastructures with a focus on IT/OT networks, is expected to add complementary expertise in cybersecurity, IT/OT networking and cloud infrastructure. Nethive intends to use the partnership to invest in AI-driven automation, expand its managed services and proprietary software offerings, strengthen its sales organization and pursue targeted acquisitions in Italy and other markets.
Philippe Lautenberg, co-founder and managing partner of Bregal Milestone, said the firm was impressed by what Bellato, Rocco and the Nethive team had built and that Nethive is well positioned to capture opportunities in Italian and European cybersecurity markets, which he described as undergoing fundamental change. Nethive's co-CEOs Bellato and Rocco cited rising regulatory requirements across Europe and AI-driven increases in the scale and complexity of cyberattacks as drivers for the partnership. Advisers included Alvarez & Marsal (financial), PedersoliGattai (legal) and Fineurop Soditic (M&A and debt financing) for Bregal Milestone, and Deloitte (financial, legal and vendor due diligence) and Klecha & Co. (exclusive financial adviser) for Nethive's shareholders.
Founded in 2014 by Alessandro Bellato and Diego Rocco, Nethive offers managed security services, professional services and the distribution of technology solutions to large enterprises, small and mid-sized companies and public institutions. According to the company, it serves more than 250 clients in telecommunications, energy, healthcare, industry and public administration, and has built a reputation for rapid response times and protection of business-critical systems. Its proprietary software includes HiveFlow, which allows telecom operators to deliver network-based security services, and X-Suite, which supports monitoring and log management of complex network infrastructures.
Nethive reported 2026 revenue of approximately EUR 25 million, with average annual revenue growth of roughly 30% between 2020 and 2026 and headcount rising from about 20 to more than 80 over the same period. The 2026 revenue figures are presented on a pro forma basis including JoyComm. The Financial Times included Nethive in its "Europe's Long-term Growth Champions 2026" ranking, where it placed first among Italian participants in the IT & Software category.
JoyComm, which plans, implements and operates secure network and cloud infrastructures with a focus on IT/OT networks, is expected to add complementary expertise in cybersecurity, IT/OT networking and cloud infrastructure. Nethive intends to use the partnership to invest in AI-driven automation, expand its managed services and proprietary software offerings, strengthen its sales organization and pursue targeted acquisitions in Italy and other markets.
Philippe Lautenberg, co-founder and managing partner of Bregal Milestone, said the firm was impressed by what Bellato, Rocco and the Nethive team had built and that Nethive is well positioned to capture opportunities in Italian and European cybersecurity markets, which he described as undergoing fundamental change. Nethive's co-CEOs Bellato and Rocco cited rising regulatory requirements across Europe and AI-driven increases in the scale and complexity of cyberattacks as drivers for the partnership. Advisers included Alvarez & Marsal (financial), PedersoliGattai (legal) and Fineurop Soditic (M&A and debt financing) for Bregal Milestone, and Deloitte (financial, legal and vendor due diligence) and Klecha & Co. (exclusive financial adviser) for Nethive's shareholders.
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