ARGOS finalises acquisition of Axitea

Tenth investment by Argos Wityu Mid-Market VIII fund in Axitea, a leading Italian provider of digitally enabled surveillance and security services for corporates.  

• Argos Wityu’s strategy is focused on supporting Axitea in its transformation into a leading provider of convergent and hybrid security services, effectively addressing both physical and digital threats.
• Marco Bavazzano confirmed as CEO.
• Pietro Scott Jovane, former CEO of Microsoft Italy, will chair Axitea’s Board, with Paolo Scaroni joining as a Board Member.

Argos Wityu, an independent pan-European investment group, has acquired a majority stake in Axitea, a leading Italian provider of digitally enabled surveillance and security services for corporate clients, from Stirling Square, a leading pan-European private equity firm specialized in internationalising and digitalising mid-market businesses. This acquisition marks the tenth investment by Argos Wityu’s Mid-Market VIII fund. Financial terms of the transaction are not being disclosed.

Axitea is a leading provider of integrated and managed security services, offering tailored solutions to both SMEs and large enterprises that address physical and digital security needs. Founded in 1914, the company has consistently led innovation in the industry, becoming the first in Italy to deploy AI-powered surveillance solutions. Under Stirling Square’s ownership, Axitea has undergone a digital transformation and strategic repositioning to diversify its customer base across public and private sector customers. This digital transformation involved Axitea pivoting from a traditional physical security model to a tech-enabled integrated security platform, combining surveillance, alarm systems, and cybersecurity into a single unified solution. Today, Axitea offers a comprehensive suite of services designed to protect both physical assets (e.g., infrastructure, vehicles, goods) and digital assets (e.g., sensitive data, identities, intellectual property, reputation), adapting to the evolving needs of clients in traditional, technology-driven, and cyber environments.

Argos Wityu will collaborate with the current management team, led by CEO Marco Bavazzano, to support Axitea’s next phase of growth. The strategic roadmap aims to position Axitea as a leader in convergent security services, delivering advanced digital ‘active protection’ systems that effectively mitigate a broad range of significant risks faced by corporate clients.

The newly appointed Board of Directors will be chaired by Pietro Scott Jovane, former CEO of Microsoft Italy, who brings extensive leadership experience in driving digital transformation and innovation. Jovane will provide his expertise to the team to expand the company’s technology-driven offerings, leveraging his knowledge to accelerate its evolution into a leader in integrated physical and cybersecurity solutions.

Andrea Pavesi, Partner at Argos Wityu, commented: «We are excited to invest in Axitea, a company uniquely positioned in the rapidly evolving security landscape. As the industry shifts from traditional labour-intensive models toward sophisticated technology and AI-driven solutions, Axitea stands at the forefront of this transformation. With our support, we believe Axitea will accelerate its technological evolution, expanding its AI security capabilities while creating exceptional value in this high-growth market.

This investment perfectly embodies the Argos DNA: we identify businesses with strong fundamentals and partner with management teams to unlock their full potential, in this case by leveraging our expertise in digital transformation and build-up expansion.»

Marco Bavazzano, CEO of Axitea, said: «We are excited to begin this new chapter alongside Argos Wityu. Their strategic and operational support will allow us to accelerate our transition toward digital active protection and further strengthen our leadership in tech-enabled security services. Together, we are ready to scale our impact, innovate across key verticals, and respond to the evolving needs of our clients. I want to take this opportunity to thank the Stirling Square team for their long-standing support, as we evolved our strategy to meet the changing needs of our customers, including making the investment required to spearhead our successful digital transformation. »

Pietro Scott Jovane, Chairman of the new Board added: “Innovation, a strong team and a promising market are elements that make Axitea a successful leader with strong potential. We have a unique know-how and competitive advantage, combined with the support of Argos, with European-wide expertise and experience, which make us look to the future with confidence.”

Stefano Bonfiglio, Founder and Executive Chairman of Stirling Square, said: «We are extremely proud to have supported Axitea’s evolution and growth as it transformed into a tech-enabled integrated and managed security services provider and achieved its market leading position in Italy. Working alongside Marco and his team, we made targeted, strategic investments in innovation, talent and digital infrastructure to address changing customer security needs. It has been a privilege to support this digital transformation and see the business fulfil the potential we identified when we made our original investment. On behalf of our team, I want to extend our thanks to Marco and his team and wish them all the best in this exciting new chapter for the business.»

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 Argos Wityu team: Jean-Pierre Di Benedetto, Andrea Pavesi, Gabriele Scalco, Davide Liverani, Giacomo Egidi and Veronica Digoncelli.

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Financing Provider:
Unitranche Financing: BNP Paribas Asset Management Europe (first deal in Italy with the bank as sole provider for UT + RCF + ancillary facilities)
RCF: BNL

Buyer’s Advisors:
M&A Advisor: Daiwa Corporate Advisory (Giuliano Guarino, Marzia Cormun, Luca Maccari, Antonio Sciacca)
Debt Advisor: EY Capital & Debt Advisory (Giovanni Grandini, Sergio Tengattini, Maria Pia Pedota)
Legal Advisor: Giovannelli e Associati (Alessandro Giovannelli, Matteo Bruni, Alessandra Gritti)
DD Tax: WST (Luca Pangrazzi, Silvia Sofia, Matteo Angileri)
DD Strategy: Boston Consulting Group (Elisa Crotti, Dario De Sanctis, Cesare D’Adda, Beatrice Abbiate)
DD Financial: EY Capital & Debt Advisory (Marco Ginnasi, Andrea di Bella, Matteo Mezzetti)

Seller’s Advisors:
M&A Advisor: Lazard (Michele Marocchino, Carlo Gallovich, Edoardo Massari Calvi, Tommaso Cecchini)
Legal Advisor: Pavia and Ansaldo (Paola Carlotti, Riccardo Robuschi)
Commercial DD: Deloitte (Federico Bazzani, Federica Lamperti, Davide Locatelli, Flavia Regazzo)
Financial DD: EY (Enrico Silva, Gaetano Di Benedetto)
Tax DD: EY (Roberto De Bernardinis, Alessandro Pina, Federico Donetti)