Key Takeaways
- • Hg Capital announced a majority investment in EnterSoftone (ES1), a Greece-based ERP and business software platform, valuing the business at approximately €1 billion, marking Hg's first investment in Greece.
- • HgCapital Trust is committing approximately £33 million to the deal via the Hg Genesis Fund, alongside other Hg client co-investors; closing is expected later in 2026.
- • EnterSoftone was formed in 2025 through a merger of Entersoft and Softone, creating a combined entity serving more than 90,000 clients across Greece, Romania, Bulgaria, and Cyprus.
- • Olympia Group, Imker Group, and management retain significant equity stakes in the post-transaction structure, indicating a continuation of founder and strategic shareholder involvement.
- • The deal reflects Hg's expansion of its software investment thesis into Southern European markets, with a focus on established, client-dense business software platforms in the region.
Summary
On September 22, 2026, Hg Capital announced a majority investment in EnterSoftone, a Greece-based enterprise resource planning (ERP) and business software platform, in a transaction valuing the company at approximately €1 billion. The investment marks Hg's first entry into the Greek market and signals the firm's strategic push into Southern European software assets. According to regulatory filings on Investegate and follow-on coverage in PE Hub, HgCapital Trust is deploying approximately £33 million alongside other Hg client capital through the Hg Genesis Fund.
EnterSoftone was established in 2025 through the merger of two established Greek software companies, Entersoft and Softone. The combined platform serves more than 90,000 clients across Greece and Southeastern Europe, including operations in Romania, Bulgaria, and Cyprus. This substantial client base and geographic footprint position ES1 as a meaningful regional player in business software infrastructure, particularly in markets where ERP and related solutions remain fragmented.
The transaction preserves meaningful ownership stakes for existing stakeholders. Olympia Group, Imker Group, and management are retaining significant equity positions post-close, a structure that aligns incentives and reflects confidence in the combined entity's trajectory under Hg's partnership. The deal is expected to close later in 2026. Specific equity percentages beyond Hg's majority stake, leverage terms, and EBITDA transaction multiples were not disclosed in the public announcement.
For institutional allocators tracking Hg's deployment of capital into software-as-a-service and enterprise software verticals across Europe, this transaction exemplifies the firm's willingness to move down the market-cap and geography ladder—from Western European software assets into Southern European regional platforms with strong customer density and demonstrated revenue resilience. The Genesis Fund vehicle structure continues Hg's co-investment model, distributing capital across multiple managed accounts alongside the core fund.
EnterSoftone was established in 2025 through the merger of two established Greek software companies, Entersoft and Softone. The combined platform serves more than 90,000 clients across Greece and Southeastern Europe, including operations in Romania, Bulgaria, and Cyprus. This substantial client base and geographic footprint position ES1 as a meaningful regional player in business software infrastructure, particularly in markets where ERP and related solutions remain fragmented.
The transaction preserves meaningful ownership stakes for existing stakeholders. Olympia Group, Imker Group, and management are retaining significant equity positions post-close, a structure that aligns incentives and reflects confidence in the combined entity's trajectory under Hg's partnership. The deal is expected to close later in 2026. Specific equity percentages beyond Hg's majority stake, leverage terms, and EBITDA transaction multiples were not disclosed in the public announcement.
For institutional allocators tracking Hg's deployment of capital into software-as-a-service and enterprise software verticals across Europe, this transaction exemplifies the firm's willingness to move down the market-cap and geography ladder—from Western European software assets into Southern European regional platforms with strong customer density and demonstrated revenue resilience. The Genesis Fund vehicle structure continues Hg's co-investment model, distributing capital across multiple managed accounts alongside the core fund.
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