Key Takeaways
- Sector: Technology Software & Gaming.
- Geography: Germany.
Analysis
Munich, Germany – August 5, 2025 – Maguar Capital, a specialist investor in B2B software companies across the DACH region, has announced the sale of its stake in Ingentis Group to global investment firm Carlyle. The transaction marks the second successful exit for Maguar Fund I, further solidifying the firm's track record in European tech investing.
Under Maguar’s ownership since August 2021, Ingentis has transitioned from a founder-led business into a globally recognized SaaS provider. The company achieved consistent double-digit revenue growth, significantly expanded its share of recurring revenues, and built a robust presence in North America. Strategic alliances with leading firms like Armanino and Wiss have further accelerated its international reach.
Joachim Rotzinger, CEO of Ingentis, will continue to lead the company, and the management team is also reinvesting in the business as part of the Carlyle transaction. This continuity signals confidence in the company’s future trajectory under its new ownership.
Maguar Capital’s investment model emphasizes close collaboration with founders and management to drive operational excellence, SaaS transformation, and international scale. The Ingentis exit showcases Maguar’s ability to execute this model successfully.
Strong Momentum in European B2B SaaS Exits
This deal joins a series of recent successful B2B software exits in Europe:
- Main Capital Partners sold HR software firm Perbility to US-based Paycor in June 2025, marking its third exit from its Growth Fund I.
- Hg Capital exited cloud ERP specialist Translucent in a sale to SAP for a reported $300M in May 2025.
- Five Arrows sold its majority stake in UK-based compliance platform Athena Software to Vista Equity in a deal valued above $250M in April 2025.
- EMH Partners exited its position in Munich-based Brainloop, acquired by Dassault Systèmes in a strategic push into secure enterprise collaboration tools.
These exits point to a broader trend of global investors targeting high-performing European SaaS firms with proven growth and international potential.
Arno Poschik, Matthias Ick, and Gunther Thies, founding partners at Maguar, praised the partnership with Ingentis, stating it “exemplifies what we strive for – supporting founder-led software companies in reaching the next level.”
The sale to Carlyle marks a new phase of growth for Ingentis. With continued leadership from CEO Joachim Rotzinger and a reinvested management team, the company is well-positioned to scale its international footprint and enhance its SaaS offering under Carlyle’s global investment platform.
With this second realization from Fund I, Maguar strengthens its profile as a leading growth partner for software companies in Europe, as global demand for AI-driven, data-intelligent business platforms continues to rise.