Itineris accelerates its growth strategy with Cobepa as the new majority shareholder

DATE

June 23, 2025

Itineris, a global leader in innovative SaaS solutions for utilities, today announces that Cobepa, a renowned long-term equity investor active in Belgium and the U.S., has acquired a majority stake in the company. This marks a significant milestone in Itineris’ journey to accelerate growth, expand its global reach, and further strengthen its leadership in advanced software solutions for utilities.

Founder and CEO Edgard Vermeersch remains the largest non-institutional shareholder, reaffirming his long-term commitment to Itineris’ vision and future. As part of the transaction, all existing institutional investors – PMV, Gimv, Smartfin, and SFPIM – will exit their positions.

The investment marks a strong vote of confidence in Itineris’ strategy to become the global category leader in advanced software solutions for the utilities sector. Cobepa brings not only capital, but also valuable expertise and resources in the EU and in the U.S. that will enable Itineris to further innovate, scale its operations, and support utilities as they navigate the complex challenges of the energy transition, climate change, and rising customer expectations.

“We are thrilled to welcome Cobepa as our new majority investor. As an equity partner with a long-term vision, Cobepa is a perfect match for Itineris. Our unwavering commitment to customer satisfaction and long-term strategic partnerships with our customers has positioned us uniquely within the industry. The trust our customers place in us has fostered a very strong, loyal and vibrant community on both sides of the Atlantic. It is my ambition to continue building on this legacy.

With Cobepa’s support, we will further enhance our solution offering, expand our global footprint, and continue enabling utilities to meet the challenges of tomorrow. I am truly excited about the opportunities ahead and look forward to a close and fruitful collaboration with the Cobepa team.

I would also like to express my sincere gratitude to our former investors – PMV, Gimv, Smartfin, and SFPIM – for their trust and partnership over the years. Their support has been instrumental in bringing Itineris to where it stands today.”

Edgard Vermeersch,
CEO and Founder

“We are truly impressed by the track record Itineris has built with its customers across both Europe, the UK & Ireland, and the U.S. Their remarkable growth and continued innovation have positioned the company as a technological leader in software solutions for utilities.

We see great potential for Itineris to further evolve into a global category leader. Our interactions with the team over the past few months have highlighted the trust and confidence customers place in their UMAX platform – an exceptional result given the complexity and mission-critical nature of these solutions.

At Cobepa, we’re excited to support Itineris as it continues to innovate in areas such as AI, real-time data, and advanced digital technologies – key capabilities that are vital for utilities navigating the challenges of the energy transition. We look forward to partnering closely with Edgard and the entire Itineris team in this next phase of growth.”

Jean-Marie Laurent Josi
CEO, Cobepa

Itineris was advised on the transaction by DC Advisory (M&A and debt advisory), A&O Shearman (Legal) and Four & Five (Legal).

In the picture at the top: Filip Vanderschueren, Director (Cobepa) – Edgard Vermeersch, CEO (Itineris) – Jean-Marie Laurent Josi, CEO (Cobepa)

About Itineris

Itineris is a leading provider of innovative software solutions enabling water and energy utilities to reach operational efficiency, improve the experience of their customers, and achieve their environmental goals.

Itineris develops and delivers UMAX, a modern and highly configurable Customer Information System (CIS), CRM, Asset, and Field Service Management solution built on the powerful Microsoft Dynamics 365 platform. Itineris also offers data intelligence tools to help utilities achieve seamless and efficient data sharing and visualization.

Itineris employs over 550 utility experts and has offices in Belgium, the UK, and North America.

About Cobepa

Cobepa is an independent, privately held investment company with offices in Brussels and New York. Established in 1957, they are a well-recognized equity investor, with over € 5.1 billion net asset value.

In cooperation with the management team of their portfolio companies and in partnership with their co-investors, they aim to enhance the growth perspectives of their investments as well as the sustainability of their business model.

In developing its investment activity, Cobepa remains committed to the values of trust, respect for people, acting with integrity, and transparency. For more information, please visit https://www.cobepa.com.