Investcorp has established a €240 million continuation fund to enhance the growth of Italian cybersecurity firm HWG Sababa, following a successful majority stake sale.

Information on the Target

Investcorp has initiated a €240 million single-asset continuation fund aimed at fostering the next growth phase of HWG Sababa, an Italian cybersecurity firm. This development follows a majority stake sale by the Investcorp Technology Partners Fund V (ITP V). This transaction signifies the first exit from the highly subscribed ITP V fund, which successfully closed at $570 million in 2024.

HWG Sababa was established in 2008 and is headquartered in Verona, Italy. It stands as a prominent independent cybersecurity provider within Southern Europe, specializing in security operations across IT, IoT, and OT environments. The company serves a diverse array of clients, including those in critical infrastructure, energy, finance, and manufacturing sectors. Since receiving investment from ITP V in 2022, HWG Sababa has impressively increased its revenues sixfold and has executed four acquisitions, notably acquiring Sababa Security in 2023.

Industry Overview in Italy

The cybersecurity industry in Italy is experiencing notable growth, driven by the increasing prevalence of cyber threats and the urgent need for businesses