Bregal Milestone, a European software-focused growth private equity firm, has announced a majority growth investment in Nethive S.p.A., an Italian cybersecurity services and software company. Alongside the investment, Bregal Milestone has supported Nethive’s acquisition of JoyComm S.r.l., an Italian IT security specialist, as part of a strategy to expand its cybersecurity capabilities and market presence.
Founded in 2014 by Alessandro Bellato and Diego Rocco, Nethive provides managed cybersecurity services, professional services, technology resale, and proprietary software to enterprise customers, small and medium-sized businesses, and public-sector organizations throughout Italy.
The company serves more than 250 clients across industries including telecommunications, energy, healthcare, industrial operations, and public administration. Its services include 24/7 security monitoring, threat detection and response, vulnerability management, infrastructure protection, risk assessment, and specialized security consulting.
Nethive also develops proprietary software solutions designed for complex enterprise and telecommunications environments. Its HiveFlow platform enables telecommunications operators to deliver network-based security services, while X-Suite provides monitoring and log management capabilities for sophisticated network infrastructures.
The acquisition of JoyComm expands Nethive’s technical capabilities across cybersecurity, information technology and operational technology networking, and cloud infrastructure. JoyComm specializes in designing, implementing, and managing secure network and cloud environments, adding complementary engineering and consulting expertise to Nethive’s existing operations.
Nethive has experienced substantial growth in recent years, with revenue reaching approximately €25 million in 2026 on a pro forma consolidated basis that includes JoyComm. The company reported a compound annual revenue growth rate of approximately 30% between 2020 and 2026.
During that period, the combined company’s employee base expanded from approximately 20 to more than 80 professionals. Nethive was also recognized in the Financial Times’ Europe’s Long-term Growth Champions 2026 rankings as the highest-ranked Italian company in the IT and Software category.
With Bregal Milestone’s backing, Nethive plans to accelerate investments in AI-enabled automation, expand its managed security services and proprietary software offerings, and strengthen its commercial organization.
The growth strategy also includes selective acquisitions in Italy and other European markets, potentially allowing Nethive to expand its technical expertise, geographic reach, and customer relationships.
The investment comes as European businesses face increasingly sophisticated cybersecurity threats, evolving regulatory requirements, and growing complexity associated with AI-enabled attacks.
Bregal Milestone specializes in growth investments in business-to-business software, artificial intelligence, and cybersecurity companies. The firm has raised approximately €2.3 billion since inception and operates within Bregal, a global private markets investment platform with more than €24 billion in assets under management.
Several advisors supported the transaction. Alvarez & Marsal, PedersoliGattai, and Fineurop Soditic advised Bregal Milestone on financial, legal, and M&A and debt matters, respectively. Deloitte provided financial and legal advisory services to Nethive’s shareholders, while Klecha & Co. acted as their exclusive financial advisor.
The combination of Nethive and JoyComm establishes an expanded cybersecurity platform that will pursue organic growth and acquisitions while strengthening its ability to serve organizations operating mission-critical technology infrastructure.
KEY QUOTES:
“The cybersecurity landscape is evolving rapidly: threats are becoming more sophisticated, regulations are tightening across Europe, and AI is increasing both the scale and complexity of cyberattacks. We founded Nethive to help organizations manage this complexity with confidence. Bregal Milestone’s deep cybersecurity expertise makes them the ideal partner for our next phase of growth. Their support will help us further productize our offering and expand our footprint while preserving the reliability and quality our clients expect.”
Alessandro Bellato And Diego Rocco, Co-Founders And Co-CEOs Of Nethive
“We have been impressed by what Alessandro, Diego and the entire Nethive team have accomplished over the years and are delighted to partner with them to support this next phase of the Company’s growth. The Italian and European cybersecurity markets are undergoing a significant transformation, and we are convinced that Nethive is ideally positioned to capture the opportunities ahead.”
Philippe Lautenberg, Co-Founder And Managing Partner At Bregal Milestone
