M&A Deal Summary

Warburg Pincus and E.ON Acquire PSI Group

On October 13, 2025, private equity firm Warburg Pincus and E.ON acquired software company PSI Group for 702M EUR

Acquisition Highlights
  • This is Warburg Pincus’ 35th and E.ON’s 1st transaction in the Software sector.
  • This is Warburg Pincus’ 19th and E.ON’s 2nd largest (disclosed) transaction.
  • This is Warburg Pincus’ 12th and E.ON’s 4th transaction in Germany.

M&A Deal Summary

Date 2025-10-13
Target PSI Group
Sector Software
Buyer(s) Warburg Pincus
E.ON
Deal Type Going Private
Deal Value 702M EUR

Target

PSI Group

Berlin, Germany
PSI Group develops software products for optimizing the flow of energy and materials for utilities and industry. As an independent software producer, it offers process control systems that ensure sustainable energy supply and production by combining AI methods with industrially proven optimization methods. PSI Group is based in Berlin, Germany.

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Buyer(S) 2

Buyer

Warburg Pincus

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1966
PE ASSETS 83.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Warburg Pincus is a mega-sized, global private equity firm focused on investment opportunities across North America, Asia, and Europe. Warburg will consider investing at various company stages, from early-stage opportunities to distressed situations. Warburg Pincus is organized by industry groups. Verticals include financial services, healthcare, technology, media & telecommunications, energy, consumer & industrial, and real estate. Within financial services, Warburg will consider asset/wealth managers, banks, exchanges, financial technology, insurance, transaction processing, private banking, and specialty/consumer finance. Within healthcare, specific areas of interest include medical devices, healthcare services, and biotech/pharmaceuticals. Within technology/media/communications, Warburg targets software, media/internet/information, financial technology, telecom, business services, and systems/semiconductors. Within energy, specific areas of interest include oil/gas exploration, power generation/transmission, and alternative energy. Warburg Pincus raised its first fund in 1966 and is based in New York City.


DEAL STATS #
Overall 491 of 492
Sector: Software M&A 35 of 35
Type: Going Private M&A Deals 12 of 12
Country: Germany M&A 12 of 12
Year: 2025 M&A 8 of 9
Size (of disclosed) 19 of 49
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-09-26 Fortegra

Jacksonville, Florida, United States

Fortegra is a global specialty insurance company through its subsidiaries, offers to underwrite and administer a comprehensive and diverse set of admitted and surplus insurance products and warranty solutions across the United States and around the world. Fortegra is based in Jacksonville, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-11-25 Topcast

Hong Kong, China

Topcast connects suppliers with customers in all segments of aviation including airlines, Maintenance, Repair, and Overhaul (MRO) service providers and Original Equipment Manufacturers (OEMs). Topcast operates as an extension of the suppliers offering not only aftermarket support, but also the development of new businesses for its principals. The company also provides technical support and maintenance services and distribution of industrial cables and wires. Topcast was founded in 1991 and is based in Hong Kong, China.

Buy -
Buyer

E.ON

Essen, Germany

Category Company
Founded 1923
Sector Energy Services and Equipment
Employees65,515
Revenue 80.1B EUR (2024)
DESCRIPTION

E.ON focuses on renewables, distribution networks, and customer solutions. Its conventional generation, global energy trading, and exploration and production businesses will be combined in a new, independent company. E.ON was founded in 1923 and is based in Essen, Germany.


DEAL STATS #
Overall 8 of 8
Sector: Software M&A 1 of 1
Type: Going Private M&A Deals 1 of 1
Country: Germany M&A 4 of 4
Year: 2025 M&A 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-01 WINGAS - Biomethane Business

Kassel, Germany

WINGAS GmbH - Biomethane Business is a clean energy that reduces greenhouse gas emissions and improves air quality.

Buy -