Acquisition of Polish Digital Retail Solutions Provider IAI Group by Montagu Announced
Montagu Private Equity, a UK-based private equity firm, has announced the acquisition of IAI Group, a leading digital retail solutions provider in Poland. This move marks a significant expansion in Montagu's digital infrastructure portfolio.
IAI Group, founded in 2000, is the largest e-commerce SaaS platform in Central and Eastern Europe, serving approximately 13,000 stores in Poland and Hungary through its brands IdoSell, AtomStore, and Shoprenter, and also owning IdoPayments, a licensed National Payment Institution.
The acquisition follows a period from 2018 to 2024 when IAI was growing strongly under the ownership of MCI Capital, a Polish private equity fund. During this period, IAI made strategic acquisitions, including Shoprenter and AtomStore, and achieved a compound annual growth rate (CAGR) of over 20% in net revenues from 2022 to 2024.
Michał Paschalis-Jakubowicz, Chief Executive Officer at IAI Group, shares a shared vision with Montagu for strong growth with both current and future clients. Montagu plans to include IAI in its digital infrastructure portfolio, joining other businesses like Multifonds, Harvest, ITRS Group, and Wireless Logic.
Daniel Fischer, Partner at Montagu, expresses excitement about IAI's mission-critical role in the fast-growing digital retail ecosystem across Central and Eastern Europe. He looks forward to supporting IAI in further developing its capabilities and realizing its full potential.
IAI's products are well-integrated into customer infrastructures, leading to high client retention rates. The company's e-commerce platform, IdoSell, is used by mid-to-large-sized merchants for effective online operations management.
Jan Stypulkowski, Partner at Montagu, highlights their success in building a leading SaaS provider for e-commerce in the Central and Eastern European region through active support in organic growth and acquisitions.
MCI Capital, which previously owned a majority stake in IAI, drove significant growth, making IAI a market leader in Poland and Hungary. MCI Capital, listed on the Warsaw Stock Exchange, manages assets exceeding PLN 2.7 billion.
The transaction is subject to customary regulatory approvals, including from the Polish Office of Competition and Consumer Protection. Montagu, a private equity firm managing €14 billion, is optimistic about the acquisition, aligning with their investment strategy in must-have digital services.
This acquisition represents a transfer of ownership from a regional fund to a larger, pan-European private equity player with a broader digital infrastructure portfolio. Montagu's entry aims to scale IAI further within its digital infrastructure investments.
In summary, Montagu’s acquisition of IAI Group in 2025 followed a period from 2018 to 2024 when IAI was growing strongly under MCI Capital, consolidating its market-leading position in ecommerce SaaS in Central and Eastern Europe, aided by strategic investments and expansions. Montagu’s entry aims to scale IAI further within its digital infrastructure investments.
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Private equity firm Montagu, having managed €14 billion, is set to scale IAI Group's digital retail solutions in the technology sector, following IAI's growth under MCI Capital from 2018 to 2024 in Central and Eastern Europe. IAI, a leading e-commerce SaaS platform, serves approximately 13,000 stores with its brands, including IdoSell, and owns IdoPayments.
