The sale marks a highly successful 6th exit from FPE Fund II

LONDON, 9 October 2025 – FPE, the specialist software & data focused lower mid-market investor, is pleased to announce the successful sale of Intragen, a European market leading Identity and Access Management services provider, to Nomios, a leading European expert in cybersecurity and secure network services in EMEA, backed by Keensight Capital, a leading European Growth Buyout investor. This strategic combination creates a powerful integrated platform that places identity at the heart of comprehensive cybersecurity. The terms of the transaction, which will complete in October 2025, are not disclosed.

FPE invested in Intragen in 2019, transforming the business from a specialist identity consultancy into one of Europe’s leading Identity and Access Management (IAM) services platforms. Over the course of the partnership, FPE supported a step-change in Intragen’s leadership and strategy.  A new CEO (Alex Fagioli) was appointed in April 2022, and a new high-performing executive team was brought together to support the next stage of growth.

During FPE’s ownership, Intragen achieved more than 5x revenue growth through a combination of organic expansion and strategic M&A. The business developed deep commercial partnerships with leading vendors including One Identity and Okta, shifted to a vendor-led commercial strategy, organically built a managed service practice and invested in marketing and sales capability to support a high-quality pipeline across Europe. 

Alongside this, Intragen significantly scaled its European footprint, establishing a Centre of Excellence in Finland and a market-leading academy in Greece, and expanding its presence across the UK, Benelux, Nordics and DACH markets. The business also completed three bolt-on acquisitions including the IAM business of Telia in Finland, Aspis ID, and Atlas Identity, adding scale, delivery capability and blue-chip customers. Today, Intragen employs 250 IAM specialists, serving a high-quality international client base and is positioned as one of the top IAM services providers in Europe.

Intragen’s growth and innovation has been widely recognised winning multiple awards, including One Identity’s Global and EMEA Partner of the Year and Okta’s EMEA Partner of the year. 

Alex Fagioli, CEO of Intragen, commented,

 “The period since FPE’s investment has been genuinely transformational for Intragen. We have scaled across Europe, strengthened our leadership team, and significantly evolved our commercial and delivery capabilities. FPE has been an exceptionally supportive and engaged partner throughout – providing the strategic clarity and operational backing to help us grow with confidence. I’m proud of what we have achieved together and excited for what lies ahead in this next chapter with Nomios.”

Chris Kay, Partner at FPE, commented,

“The sale of Intragen marks another strong realisation for Fund II and a great example of our value creation strategy in action, backing software, data and services businesses where our sector focus enables us to help create real scale and leadership. It’s been a privilege to work closely with the Intragen team, supporting their ambitions in international growth and strategic M&A. Together we have built a market-leading IAM consultancy, and we are proud to have been part of that journey.”

FPE’s team was led by Chris Kay and Sam Greenberg. FPE was advised by Canaccord Genuity (Corporate Finance), Squire Patton Boggs (Legal), Altman Solon (Commercial) and KPMG (Financial).   

-ENDS-

FPE

FPE Capital LLP (‘FPE’) is a specialist private equity investor focused on the software, data and services sectors. It invests in lower mid-market UK and Ireland headquartered software, data and services companies with advantaged business models that offer significant growth potential in large markets that are undergoing structural change. FPE is authorised and regulated by the Financial Conduct Authority. www.fpecapital.com

Intragen

Intragen is a leading European expert in digital identity and access management. The company has offices and teams in several key European countries, including the United Kingdom (London), Finland (Helsinki), Germany (Neuss), Greece (Athens), the Netherlands (Utrecht), and Sweden (Stockholm). Intragen supports organizations throughout the EMEA region, relying on local experts to deliver tailored solutions. As an award-winning partner of Okta, CyberArk, One Identity, and SailPoint, Intragen has been supporting organizations for over 15 years in securing identities and managing privileged access (PAM). With recognized expertise, a comprehensive managed services offering, and tailored support, Intragen helps clients address compliance, digital transformation, and cybersecurity challenges. The company relies on a team of experts and an internal academy to ensure operational excellence and continuous innovation. www.intragen.com

Nomios

Nomios is one of Europe’s leading providers of cybersecurity services. With a deep-rooted commitment to understanding and addressing clients’ unique needs, Nomios ensures personalised and effective strategies that drive tangible results. Leveraging a wealth of experience and expertise across various industries, Nomios delivers innovative solutions across a broad customer base in a wide range of sectors. Founded in 2004 by its current Group CEO, Nomios now has more than 20 offices in seven European countries. It has continually expanded its range of services, including integration, consulting, support, managed services and SOC and VOC. Nomios is renowned for its experienced, loyal and highly certified engineers, making it a leading partner for vendors such as Palo Alto Networks, Juniper Networks, Cisco, Fortinet, F5, and others. Since November 2023, Keensight Capital is the majority shareholder of Nomios. https://www.nomios.co.uk/